Ixigo Plans Rs 740 Crore IPO to Propel Growth

Le Travenues Technology Ltd, operator of ixigo, is set to launch its IPO to raise up to Rs 740 crore. The offering combines fresh equity shares and an Offer For Sale by existing shareholders. Funds will be directed towards working capital, technology investments, and acquisitions.

PTI | New Delhi | Updated: 05-06-2024 12:45 IST | Created: 05-06-2024 12:45 IST
Ixigo Plans Rs 740 Crore IPO to Propel Growth
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Le Travenues Technology Ltd, the entity behind travel booking platform ixigo, intends to raise up to Rs 740 crore through an initial public offering (IPO) slated to open for public subscription on June 10.

The IPO, priced between Rs 88 and Rs 93 per share, will close on June 12, with bids from anchor investors opening on June 7, the company disclosed. The IPO involves a mix of fresh equity shares worth Rs 120 crore and an Offer For Sale (OFS) of 6.66 crore equity shares, valued at Rs 620 crore at the upper price band, by existing stakeholders.

Proceeds from the fresh issue include Rs 45 crore for working capital and Rs 26 crore for technology and data science investments, including advancements in AI, customer engagement, and cloud hosting. Additional funds will support acquisitions and general corporate activities.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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