Ixigo IPO Opens For Public Subscription On 10 June; Issue Size Rs 740 Cr
The IPO consists of fresh issue worth Rs 120 crore and an OFS component of Rs 620.10 crore with a price band of Rs 88 to Rs 93 per share
Ixigo, an online travel agency, attempted to raise over Rs 740 crore from the public market through its initial public offering (IPO).
Ixigo IPO opened on 10 June and scheduled to close on 12 June followed by allotment on 13 June. Subsequently, the IPO will list on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on 18 June.
The IPO consisted of fresh issue worth Rs 120 crore and an offer-for-sale (OFS) component of Rs 620.10 crore with a price band of Rs 88 to Rs 93 per share.
Retail investors can bid for the maximum of 13 lots, while for the 1 lot of 161 shares, the minimum investment required is Rs 14,973.
Axis Capital, Dam Capital Advisors and JM Financial are the book running lead managers, while Link Intime India is the registrar to the issue.
IPO Objectives
Company intends to utilise the net proceeds of Rs 120 crore for the part-funding working capital requirements of the company and investments in cloud infrastructure and technology.
Additionally, the proceeds will also be used towards funding inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes.
Besides, the firm will also get benefits on listing in the public market which will enhance the brand’s visibility and provide liquidity to the shareholders.
Firm’s Financials
The firm registered revenue of Rs 517 crore in FY23, compared to Rs 384 crore in FY22.
The firm’s profit after tax (PAT) increased to Rs 23.40 crore in FY23 compared to the loss of Rs 21.09 crore in FY22.
Overall, revenue and PAT increased by 34 per cent and 210 per cent respectively.
