ixigo stock made a strong entry in the market, investors got 45% return on listing

ixigo IPO Listing Today :The stock of Le Travenues Technology, the company that operates the travel tech platform ixigo (Ixigo IPO), has made a strong entry in the stock market today. The company’s stock is listed on BSE at Rs 135 (ixigo Stock Price)It happened, whereas the upper price band under the IPO was Rs 93. In this sense, investors have got 45 percent return on listing. Now the question arises whether the shares should be sold after the listing gains or should one stay in it for a long period (Buy or Sell ixigo).

It was subscribed 98 times (Ixigo IPO Subscription)

ixigo’s IPO received a strong response from investors. 75 per cent of the IPO was reserved for qualified institutional buyers (QIBs) and it was subscribed 106.73 times overall. 15 per cent was reserved for non-institutional investors (NIIs) and it was subscribed 110.20 times overall. While 10 per cent was reserved for retail investors and it was subscribed 53.54 times. Overall it was subscribed 98.10 times.

The size was 740 crores (Ixigo IPO Size)

The company had fixed the price band for this IPO at Rs 88 to Rs 93 per share. The size of this IPO was Rs 740.10 crore. Fresh equity worth about Rs 120 crore was issued in the IPO, while the OFS was worth Rs 620.10 crore.

Plenty of scope for business expansion

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 FY 2023. Its goal is to become a customer-centric travel company while giving a better experience to the users. Therefore, Ixigo has a lot of scope for expansion in business.

Strong position in the online travel market

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.

(Disclaimer: Investing or selling stocks is advised by experts and brokerage houses. These are not the personal views of Financial Express. There are risks in the market, so take expert advice before investing.)