Online travel aggregator Le Travenues Technology, the parent company of ixigo, has set a price band of Rs 88-93 a share for its initial public offering that will open for subscription on June 10.
The anchor bidding will start on June 7 and the issue will close on June 12.
The issue comprises a fresh issue of Rs 120 crore and an offer for sale of upto 66.68 million shares that comes to Rs 620 crore on the upper price band. The total issue size will be at Rs 720 crore.
SAIF Partners India IV, Peak XV Partners Investments V, Aloke Bajpai, Rajnish Kumar, Micromax Informatics, Placid Holdings, Catalyst Trusteeship, and Madison India Capital HC are the selling shareholders in the OFS.
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SAIF Partners and Peak XV are the largest shareholders in the company, with 23.37 percent and 15.66 percent stake, respectively.
The professionally managed technology company, focussing on travellers to plan, book and manage their trips across rail, air, buses and hotels, recorded net profit at Rs 23.4 crore for the year ended March FY23, against loss of Rs 21.09 crore in the previous year. Revenue from operations during the same period increased by 32 percent to Rs 501.3 crore.
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Net profit for ixigo for the nine month period ended December FY24 grew by 252.1 percent to Rs 65.7 crore, up from Rs 18.7 crore in the corresponding period of previous fiscal. Revenue in 9MFY24 jumped 34.8 percent to Rs 491 crore compared to year-ago period.
Axis Capital, DAM Capital Advisors, and JM Financial are the book running lead managers to the issue.
