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Travel aggregator <keyword id="21163825" type="General" weightage="20" keywordseo="Ixigo" source="keywords" meta.keywordsubtype="org" meta.entityname="Ixigo" meta.hostid="261" meta.entityid="Ixigo">Ixigo</keyword> made a resounding debut on the Indian stock exchanges today, listing at Rs 138.10 on NSE and Rs 135 on BSE this morning. The stock of <keyword id="20586007" type="General" weightage="100" keywordseo="Le-Travenues-Technology" source="keywords" meta.keywordsubtype="org" meta.entityname="Le Travenues Technology" meta.hostid="261" meta.entityid="Le Travenues Technology">Le Travenues Technology</keyword>’s stock, Ixigo’s parent company, which had an issue price of Rs 93, marked around 48% premium for its investors. The company, whose public offer worth Rs 720 crore was subscribed 53.95 times by retail investors, received a thumping approval from non-institutional investors (110.25 times) and qualified institutional investors (106.73 times) as well. Out of the Rs 720 crore issue, Rs 120 crore were to be generated from fresh issue (<keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>), while the remaining Rs 620 crores were to be raised via offer for sale (OFS), or sale of shares by existing shareholders. Per the company’s draft red herring prospectus, the company is set to utilise around Rs 450 crore from its net proceeds towards funding its working capital requirements, and another Rs 258 crores to enhance its cloud infrastructure and technology. The remaining funds will be deployed for strategic acquisitions and general purposes. <cmsannotation type="cmsannotation" annotationid="What's so special about Le Travenues?" comment="subhead" text="What's so special about Le Travenues?">What's so special about Le Travenues?</cmsannotation> The company, which is home to three applications, namely <keyword id="20821976" type="General" weightage="20" keywordseo="ConfirmTkt" source="keywords" meta.keywordsubtype="org" meta.entityname="ConfirmTkt" meta.hostid="261" meta.entityid="ConfirmTkt">ConfirmTkt</keyword>, <keyword id="22094192" type="General" weightage="20" keywordseo="ixigo-and-abhibus" source="Orion">Ixigo and AbhiBus</keyword>, claims to be India’s highest <keyword id="859499" type="General" weightage="20" keywordseo="online-travel-agency" source="Orion">online travel agency</keyword> (OTA) app usage, with a total of 8.3 crore monthly active users across the 3 platforms. As of 31st December 2023, the combined number of registered users across their applications stood at 21.321 crores. Between 2020 and 2023, the Indian OTA industry grew at a CAGR of 18%, going from gross booking revenues worth Rs 74,900 crores in 2020 to Rs 1,23,900 crore in FY2023. The company also earned Rs 501.25 crores in net revenue during FY23. It also saw a sharp reversal in its profit after tax (PAT) margins between FY22, where it was -6.42% to 4.63% in FY23. The company’s PAT grew at a CAGR of 76.2% between FY 2021-23. <cmsannotation type="cmsannotation" annotationid="What are the experts saying?" comment="subhead" text="What are the experts saying?">What are the experts saying?</cmsannotation> Brokerage firms like Canara bank securities and BP Wealth foresee long-term growth potential in the stock, given its dominant position in the OTA segment. The company is positioned as the leading OTA for India’s next one billion consumers. As compared to its peers in the industry, namely <keyword id="6362992" type="General" weightage="20" keywordseo="Yatra" source="Orion">Yatra</keyword> and Easy Trip planners, Le Travenues has lower earnings per share (EPS), which is generally considered a measure of the company’s profitability. While Yatra has an EPS of Rs 0.69, Easy Trip has an EPS of Rs 0.77. In contrast, Le Travenues has an EPS of Rs 0. 58. The company also has its fair share of pitfalls to overcome. Its ticketing agreement with <keyword id="65866" type="General" weightage="20" keywordseo="IRCTC" source="Orion">IRCTC</keyword> is non-exclusive basis, which means if IRCTC decides to engage with its competitors, or terminate the agreement, it will have an adverse impact on the company’s business.

Ixigo makes a solid debut on stock exchanges, but what's next for the share?

<ul><li><keyword id="6433699" type="UNKNOWN" weightage="20" keywordseo="Ixigo">ixigo</keyword>’s parent company <keyword id="735664" type="COMPANY" weightage="20" keywordseo="Le-Travenues-Technology">Le Travenues Technology</keyword> ⁠has filed preliminary papers for the IPO.</li><li>The company aims to raise ₹750 crore through fresh issue and ₹850 crore through secondary issue.</li><li>The issue would offer partial exits to investors such as Elevation Capital and Micromax.</li></ul>Gurugram-based online ticketing startup Le Travenues Technology ⁠— which operates the <keyword id="9276563" type="UNKNOWN" weightage="20" keywordseo="travel-app-ixigo">travel app ixigo</keyword> ⁠— has filed the draft red herring prospectus (DRHP) to raise ₹1,600 crore through its initial public offering (IPO). According to the preliminary prospectus submitted with the Securities and Exchange Board of India (SEBI), ixigo’s IPO would include a fresh issue of ₹750 crore and an offer for sale (OFS) component of ₹850 crore. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Issue size </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,600 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fresh issue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹750 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Offer for Sale (OFS) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹850 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">OFS by </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Elevation Capital, Micromax, and founders Aloke Bajpai and Rajnish Kumar </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investment bankers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Securities, Axis Capital, Kotak Mahindra Capital &amp; Nomura </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Legal advisors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shardul Amarchand Mangaldas and Khaitan &amp; Co </td></tr></tbody></table> ixigo’s DRHP highlights that Elevation Capital (formerly known as SAIF) would be selling shares worth ₹550 crore. Meanwhile, Micromax would be selling shares worth ₹200 crore. Both Aloke Bajpai and Rajnish Kumar, who founded the company in 2007, will be selling shares worth ₹50 crore each. Earlier this week, MakeMyTrip, which invested about $5 million in ixigo back in 2011,<a href="https://www.businessinsider.in/business/startups/news/makemytrip-fully-exits-travel-aggregator-ixigo-deep-kalra-to-resign-from-the-board/articleshow/85240387.cms"> completely exited</a> Le Travenues Technology ahead of its IPO. With this, MakeMyTrip’s founder Deep Kalra also stepped down from ixigo’s board post this sell-off. The publicly listed company has made about 8-fold return on its initial investment in ixigo. It sold the shareholdings for $38.5 million, clocking $33.1 million as net returns. SEE ALSO <a href="https://www.businessinsider.in/business/ecommerce/news/swiggy-reports-nearly-three-fold-increase-in-annual-revenue-in-neck-and-neck-race-with-zomato/articleshow/85233393.cms">Swiggy reports nearly three-fold increase in annual revenue, in neck and neck race with Zomato</a> <a href="https://www.businessinsider.in/careers/news/lenskart-aims-to-hire-over-2000-employees-to-ramp-up-its-operations/articleshow/85235059.cms">Lenskart aims to hire over 2000 employees to ramp up its operations</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-may-dominate-the-foldable-smartphone-market-with-88-share-says-report/articleshow/85091203.cms">Samsung may dominate the foldable smartphone market with 88% share, says report</a>

Travel app ixigo files for a ₹1,600 crore IPO

<ul><li>Ixigo’s parent Le Travenues is expected to file its preliminary papers for IPO by mid August.</li><li>The company recently appointed six independent board members.</li><li>It recently raised $53 million in a pre-IPO round from Singapore-based GIC.</li></ul>Gurugram-based online ticketing startup Le Travenues Technology ⁠— which operates the <keyword id="11782910" type="UNKNOWN" weightage="20" keywordseo="travel-portal-ixigo">travel portal ixigo</keyword> ⁠— has converted itself to a public limited company, before launchings its initial public offering (IPO) this year. The company ⁠— whose last reported valuation was $104 million, as per <a href="https://tracxn.com/d/companies/ixigo.com">Tracxn</a> ⁠— is expected to file its draft red herring prospectus (DRHP) with the market regulator <keyword id="63783" type="ORGANIZATION" weightage="20" keywordseo="Securities-and-Exchange-Board">Securities and Exchange Board</keyword> of India (<keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">SEBI</keyword>) by mid August. The conversion from a private limited company to a public limited company is the first step towards an IPO. A public limited structure allows companies to raise capital from the stock market. Indian laws do not allow a private company to invite the public to subscribe to its shares. The development comes a day after the 14-year old online travel agency (<keyword id="6607315" type="UNKNOWN" weightage="20" keywordseo="OTA">OTA</keyword>) appointed six independent board members, including former IRCTC chairperson and managing director Pratap Mall, former Nasscom foundation chairperson Arun Seth and GSF Accelerator founder Rajesh Sawhney. Banking and insurance sector veteran Shubha Rao Mayya, Hopper founder Frederic Lalonde, and Hamstede Living MD and chief executive officer (CEO) Rahul Pandit will also be joining the board as independent directors, ixigo’s CEO and cofounder Aloke Bajpai announced on <keyword id="6354616" type="UNKNOWN" weightage="20" keywordseo="Twitter">Twitter</keyword>. Ixigo raised $53 million in a pre-IPO round from Singapore-based GIC. White Oak, InfoEdge Ventures, Bay Capital, Orios Venture Partners, <keyword id="2694863" type="PERSON" weightage="20" keywordseo="Trifecta-Capital">Trifecta Capital</keyword> and Malabar Investment also participated in the round, according to regulatory filings. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/nykaa-will-spend-its-ipo-money-on-setting-up-retail-stores-and-repaying-loans/articleshow/84996894.cms">Nykaa will spend its IPO money on setting up retail stores and repaying loans</a> <a href="https://www.businessinsider.in/retail/news/britannia-marico-hindustan-unilever-nestle-india-products-can-be-costlier-as-inflation-is-eating-into-their-profits/articleshow/84977161.cms">From cookies king Britannia to soaps titan HUL, inflation is eating profits away ⁠— so, you may have to pay even more for daily essentials</a> <a href="https://www.businessinsider.in/business/startups/news/skill-lync-raises-17-5-million-to-offer-more-upskilling-courses-for-engineers/articleshow/84995007.cms">Three-year-old Skill-Lync gets $17.5 million funding from Flipkart founder Binny Bansal and others</a>

Travel portal Ixigo moves a step closer to IPO

<ul><li><keyword id="54613" type="COMPANY" weightage="20" keywordseo="makemytrip">MakeMyTrip</keyword> had made an investment of $5 million in <keyword id="6433699" type="UNKNOWN" weightage="20" keywordseo="Ixigo">ixigo</keyword>, and now sold its shares for $38.5 million.</li><li><keyword id="11838988" type="UNKNOWN" weightage="20" keywordseo="trifecta-leaders-fund-1">Trifecta Leaders Fund-1</keyword>, Bay Capital, Malabar Investments and <keyword id="4804542" type="PERSON" weightage="20" keywordseo="white-oak">White Oak</keyword> bought shares from MakeMyTrip.</li><li>Ixigo has already converted itself to a public entity and plans to file for IPO this month.</li></ul>Online travel aggregator (OTA) MakeMyTrip has sold its shares in initial public offering (IPO)-bound Le Travenues Technology, which operates travel app ixigo. MakeMyTrip’s founder Deep Kalra would be stepping down from ixigo’s board post this sell-off, the two decade old company has confirmed. MakeMyTrip announced its exit from ixigo on August 9 in its regulatory <a href="https://s22.q4cdn.com/244830719/files/doc_downloads/sec/2021/c267209d-e17d-4ace-8f6a-2ebe5dd16b69.pdf">filings</a>. “On August 9, 2021, we completed the sale of our entire equity investment in the securities of an unlisted entity (classified under “Other investments” in our statement of financial position), for a total cash consideration of $38.5 million and recorded a gain on sale of $33.1 million, net of transaction related costs, which will be reflected in our financial results for the six months ending September 30, 2021,” MakeMyTrip said in its filing with the US Securities and Exchange Commission (SEC). The publicly listed company had invested close to $5 million in ixigo in 2011 and got almost 8-fold return on its initial investment. The company sold its shareholdings for $38.5 million, clocking $33.1 million as returns. Gurugram-based ixigo is yet to respond to Business Insider’s query seeking comments on the development. However, sources aware of the development said that MakeMyTrip has sold its shares to Trifecta Leaders Fund-1, Bay Capital, Malabar Investments and White Oak. Ixigo raised $53 million in a pre-IPO round from Singapore-based GIC. The above-mentioned investors had also participated in the round, along with InfoEdge Ventures and Orios Venture Partners. Moneycontrol was the <a href="https://www.moneycontrol.com/news/business/makemytrip-exits-ipo-bound-ixigo-with-8x-returns-deep-kalra-steps-down-from-firms-board-7316731.html">first</a> to report development on MakeMyTrip’s exit. Ixigo is <a href="https://www.businessinsider.in/business/startups/news/travel-portal-ixigo-moves-a-step-closer-to-ipo/articleshow/85006033.cms">planning</a> to file a draft red herring prospectus (DRHP) with India’s market regulator Securities and Exchange Board of India (SEBI) this month. It plans to raise ₹1500 crore- ₹1800 crore through this issue, sources aware of the development told Business Insider. SEE ALSO <a href="https://www.businessinsider.in/business/ecommerce/news/swiggy-reports-nearly-three-fold-increase-in-annual-revenue-in-neck-and-neck-race-with-zomato/articleshow/85233393.cms">Swiggy reports nearly three-fold increase in annual revenue, in neck and neck race with Zomato</a> <a href="https://www.businessinsider.in/careers/news/lenskart-aims-to-hire-over-2000-employees-to-ramp-up-its-operations/articleshow/85235059.cms">Lenskart aims to hire over 2000 employees to ramp up its operations</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-may-dominate-the-foldable-smartphone-market-with-88-share-says-report/articleshow/85091203.cms">Samsung may dominate the foldable smartphone market with 88% share, says report</a>

MakeMyTrip fully exits travel aggregator ixigo, Deep Kalra to resign from the board

<ul><li><keyword id="1884281" type="COMPANY" weightage="20" keywordseo="AbhiBus">Abhibus</keyword> is a bus ticketing and aggregation platform founded in 2008.</li><li><keyword id="6433699" type="UNKNOWN" weightage="20" keywordseo="Ixigo">Ixigo</keyword> would get access to Abhibus’ intellectual property and operations with this acquisition.</li><li>Ixigo is planning to file preliminary papers for its IPO by mid August, to raise ₹1,500 crore. </li></ul>Online ticketing startup Le Travenues — which operates ixigo — has acquired bus ticketing and aggregation platform AbhiBus on Thursday, August 5. The development comes only a week after ixigo raised $53 million in a round led by Singapore’s sovereign fund GIC. The acquisition will help ixigo expand its footprint in the online ticketing segment, as it gets ready to go public. According to sources within the company, ixigo is planning to file its preliminary paperwork draft red herring prospectus (DRHP) by mid August, to raise ₹1,200 crore to ₹1,5000 crore from the public market. Earlier this week, the Gurugram-based startup also converted itself into a<a href="https://www.businessinsider.in/business/startups/news/travel-portal-ixigo-moves-a-step-closer-to-ipo/articleshow/85006033.cms"> public limited company</a> to start off the initial public offering (IPO) process. The latest acquisition was done for a mix of cash and ixigo stock. Post this acquisition, AbhiBus team led by founder Sudhakar Reddy Chirra will join the ixigo team. Ixigo would also get access to AbhiBus’ intellectual property, brands, technology and operations with this acquisition. The duo claims to have a combined user base of 255 million, as of May 31, 2021. “By leveraging our combined user base, multi-modal transportation capabilities, tech resources and travel domain expertise we will be able to enhance the experience of millions of travellers in India every day,” Aloke Bajpai and Rajnish Kumar, cofounders of ixigo, said in a statement. Earlier this year, ixigo had <a href="https://www.businessinsider.in/business/startups/news/ixigo-acquires-train-discovery-and-booking-platform-confirmtxt-in-a-cash-and-stock-deal/articleshow/80685580.cms" data-type="tilCustomLink">acquired</a> train booking app Confirmtkt. AbhiBus was founded in 2008 by Chirra. It provides end-to-end software and bus-related services such as online ticketing system, fleet management solutions, vehicle tracking system, passenger information system and logistics management. The company provides its tech solutions to both private and state transportation corporations in India. It has also partnered with Indian Railway Catering and Tourism Corporation (IRCTC) to offer bus ticketing services. AbhiBus claims that they used to sell around 26,000 bus tickets per day in the financial year 2020, before pandemic hit India. SEE ALSO <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-and-tiger-global-have-a-billion-dollar-notice-to-respond-to-in-the-next-90-days/articleshow/85059732.cms">Flipkart and Tiger Global have a billion dollar notice to respond to in the next 90 days </a><a href="https://www.businessinsider.in/business/startups/news/whitehat-jrs-ceo-karan-bajaj-quits-exactly-a-year-after-byjus-acquisition/articleshow/85029450.cms">WhiteHat Jr’s CEO Karan Bajaj quits exactly a year after Byju’s acquired the company</a> <a href="https://www.businessinsider.in/business/startups/news/moengage-wants-an-office-in-new-york-and-hire-to-150-techies-in-india/articleshow/85057941.cms">INTERVIEW: MoEngage, which helps companies like Domino's engage with customers, wants an office in New York and 150 techies in India</a>

You Searched For "Le Travenues IPO" and got 5 results

Ixigo makes a solid debut on stock exchanges, but what's next for the share?

Ira Alok Puranik

Travel app ixigo files for a ₹1,600 crore IPO

Kritti Bhalla

Travel portal Ixigo moves a step closer to IPO

Kritti Bhalla

MakeMyTrip fully exits travel aggregator ixigo, Deep Kalra to resign from the board

Kritti Bhalla

IPO-bound ixigo acquires bus ticketing platform AbhiBus to strengthen its footprint

Kritti Bhalla

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