ixigo’s parent company and online travel aggregator Le Travelnews Technology has fixed the price band for its initial public offering (IPO). The company has fixed a price band of Rs 88-93 per share for this, which will open for subscription on June 10. Yes, anchor bidding i.e. big investors can apply for bidding for it from June 7. According to the news of Moneycontrol, this issue will close on June 12. Let us tell you, this issue includes a new issue of Rs 120 crore and an offer for sale of 66.68 million shares, which is Rs 620 crore at the upper price band. The total issue size will be Rs 720 crore.
The largest shareholder in the company
According to the news, SAIF Partners India IV, Peak XV Partners Investment V, Alok Bajpai, Rajnish Kumar, Micromax Informatics, Placid Holdings, Catalyst Trusteeship and Madison India Capital are the selling shareholders in HC OFS. The largest shareholders in the company are SAIF Partners and Peak XV, holding 23.37 percent and 15.66 percent stake respectively. The company focuses on helping travellers plan, book and manage their trips across rail, air, buses and hotels.
The company’s financial results are better
The professionally managed technology company reported a net profit of Rs 23.4 crore for the year ended March FY23 as against a loss of Rs 21.09 crore in the previous year. Revenue from operations grew 32 per cent to Rs 501.3 crore during the same period. ixigo’s net profit for the nine-month period ended December FY24 grew 252.1 per cent to Rs 65.7 crore.
This figure was Rs 18.7 crore in the same period of the previous fiscal. Revenue in the 9th quarter of FY24 grew 34.8 percent to Rs 491 crore compared to the year-ago period. Axis Capital, DAM Capital Advisors and JM Financial are the book running lead managers to the issue.
Latest Business News