ixigo IPO subscribed 98 times, successful investors will get shares on June 13, listing on June 18

ixigo IPO Strong Subscription :The IPO of Le Travenues Technology, the company that operates the travel tech platform ixigo, has received a bumper response from investors on the third and last day today. Today, on the third day, till 4:40 pm, this IPO has been subscribed about 98 times. At the same time, there is a craze about it in the gray market as well, which is an indication of better listing gains. Shares will be allotted to successful investors on Thursday, June 13. At the same time, the stock will be listed on BSE and NSE on June 18.

Subscribed 98 times so far (Ixigo IPO Subscription)

In this IPO, 75 percent of the share was reserved for qualified institutional buyers (QIBs) and it has been subscribed 106.73 times overall. 15 percent of the share was reserved for non-institutional investors (NIIs) and it has been subscribed 110.20 times overall. While 10 percent of the share was reserved for retail investors and it has been subscribed 53.54 times so far. Overall it has been subscribed 98 times.

The IPO is worth Rs 740 crore (Ixigo IPO Size)

The company has fixed the price band for this IPO at Rs 88 to Rs 93 per share. The size of this IPO is Rs 740.10 crore. Fresh equity worth about Rs 120 crore will be issued in the IPO. While the OFS is Rs 620.10 crore. That is, 66,677,674 shares will be sold by promoters and shareholders through OFS. The company has raised about Rs 333 crore from anchor investors.

ixigo IPO GMP

On the third day of the ixigo IPO, there is a lot of activity in the grey market. The company’s unlisted stock is at a premium of Rs 25 in the grey market. This premium is 27 per cent in terms of the upper price band of the IPO of Rs 93. In this regard, the stock may be listed at Rs 118 as compared to the issue price of Rs 93.

What is the company’s outlook

Brokerage house Anand Rathi says that Ixigo is an OTA platform focused on empowering Indian travelers to plan, book and manage their trips across rail, air, buses and hotels. It is the second largest OTA in India in terms of revenue from operations in FY23. Its goal is to become a customer-centric travel company by giving a better experience to the users. The company is currently valued at a P/E multiple of 154, while its value on market-cap/sales is 7.2 times after the issuance of equity shares compared to its peers based on FY23 earnings. Therefore, Ixigo has ample scope for expansion in the business.

Brokerage house SMIFS says that LTT Limited achieved a remarkable CAGR of 92.29 per cent in revenue from operations between FY21 and FY23, driven by rising GTV. It grew from Rs 21,532.97 million in FY21 to Rs 74,524.30 million in FY23. Revenue reached Rs 5,012.50 million in FY23. LTT’s diversified offerings across trains, flights, buses and hotels are well positioned to capitalise on the expanding Indian online travel market, which is projected to grow from Rs 1239 billion in FY23 to Rs 2802 billion by FY28.

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