Le Travenues Technology's ixigo Soars with Massive IPO Subscription

Le Travenues Technology, the operator behind ixigo, is set to debut on the stock market after a highly successful IPO. The initial public offering was subscribed 98.10 times, with proceeds aimed at working capital, technology, and acquisitions. The shares will begin trading on Tuesday.

Le Travenues Technology, the parent company of popular travel platform ixigo, will make its stock market debut on Tuesday, following a tremendously successful initial public offering (IPO) last week.

The IPO saw a subscription rate of 98.10 times on its final day of subscription, culminating on Wednesday. According to a notice from the Bombay Stock Exchange (BSE), equity shares of Le Travenues Technology Limited will be listed from Tuesday, June 18, 2024, and will be available for trading under the 'B' group securities list.

The Rs 740 crore IPO consisted of a fresh issue of Rs 120 crore and an Offer For Sale (OFS) of up to 6,66,77,674 equity shares, with the issue price fixed at Rs 93 per share. Proceeds from the fresh issue will be used to fund working capital requirements, technology investments, cloud and AI advancements, and potential acquisitions. Launched in 2007 by Aloke Bajpai and Rajnish Kumar, Le Travenues Technology has risen to prominence as a leading travel aggregator in India, offering comprehensive travel planning and booking services to millions of users.

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