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Le Travenues Technology Ltd, which operates travel booking platform Ixigo, is looking to raise up to Rs 740 crore through its initial share-sale opening for public subscription on June 10.

The issue, with a price band of Rs 88 to Rs 93 per share, will conclude on June 12 and bids for anchor investors will open for a day on June 7, the company announced.

The Gurugram-based company’s Initial Public Offering (IPO) is a combination of a fresh issue of equity shares worth Rs 120 crore and an Offer For Sale (OFS) of 6.66 crore equity shares to the tune of Rs 620 crore, at the upper end of the price band, by existing shareholders. This translates into a public issue size of Rs 740 crore.

The company recorded a nearly 5X growth in operating revenue from the pre-pandemic levels, generating over Rs 500 crore in 2023, and is targeting 40% revenue growth in FY24. The Le Traveneus Technology Ltd-owned company clocked Rs 111.6 crore in revenue in FY20. It claimed to be cash flow positive and said it has achieved an EBITDA margin of more than 7% in FY23.

Saif Partners India Ltd and Peak XV Partners are the largest shareholders in ixigo, holding 23.37% and 15.66% stake, respectively.

Read more at: https://yourstory.com/2024/06/ixigo-ipo-will-open-on-june-10-shares-priced-rs-88-93

(With inputs from Yourstory)