Ixigo IPO (Le Travenues Technology Limited IPO) Review –
Ixigo IPO is set to open from 10th June 2024 to 12th June 2024. This article will analyze the financials , strengths and weaknesses of the Ixigo IPO. Keep scrolling below to read more!
Ixigo IPO Overview –
Established in 2006, Ixigo (Le Travenues Technology Limited) is an online travel agency (OTA) which operates in the Indian travel and tourism industry that enables travelers to plan, book and manage their travel and trips in terms of booking train, flight, and bus tickets as well as hotels via its OTA platforms under the brand name “ixigo”. The company’s list of services includes:
- PNR status and confirmation predictions.
- Train seat availability alerts.
- Train running status updates and delay predictions.
- Alternative route or transportation planning.
- Flight status updates
- Automated web check-in.
- Bus running status, price and availability alerts.
- Deal discovery.
- Destination content, personalized recommendations.
- Instant fare alerts for flights, AI-based travel planning service
- And automated customer support services.
The various OTA platforms offered by ixigo include:
- The ixigo trains and Confirmtkt app.
- ixigo flights mobile app.
- Abhibus app
The company has the highest app usage among online travel app with a cumulative 83 million monthly active users across its apps.
The company recently launched ixigo PLAN, an intelligent, AI-based travel planner that helps travelers plan their trips with detailed itineraries and real-time destination information. It has also launched a generative AI plugin that enables conversational interactions with ixigo PLAN.
The company has also launched a value-added service, ixigo Assured Flex, which enables the purchase of a fully flexible air or rail ticket with no additional payment for cancellation or rebooking, apart from the price difference, for all domestic flights and rail bookings at a low cost.
As of December 31, 2023, the company had 486 full-time employees, and 4 consultants working under consultancy agreements.
Ixigo IPO Synopsis-
Ixigo IPO is set to be open from 10th June 2024 to 12th June 2024, offering fresh issue of 1.29 crore shares aggregating to Rs 120.00 crores and offer for sale (OFS) of 6.67 crore shares aggregating to Rs 620.10 crores. This IPO follows a Book Built Issue IPO.
The total issue size of this IPO amounts to Rs. 740.10 Crores. The company has allocated shares 10% to retail investors, 75% to institutional and 15% to non institutional investors.
| Particulars | Details |
| Opening Date | 10th June 2024 |
| Closing Date | 12th June 2024 |
| Lot Size | 161 Shares |
| Face Value | Rs. 1 |
| IPO Size | Rs. 740.10 Cr |
| Fresh Issue | Rs. 120 Cr |
| IPO Price Range | Rs. 88-93 |
| Min. Investment | Rs. 14,973 |
| Offer for Sale (OFS) | Rs. 620.10 Cr |
| Basis of Allotment | 13th June 2024 |
| Refunds | 14th June 2024 |
| Listing Date | 18th June 2024 |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
Ixigo IPO Book Running Lead Managers –
Axis Capital Limited
Dam Capital Advisors Limited
Jm Financial Limited
Ixigo IPO Registrar to the offer –
The registrar for the Ixigo IPO is Link Intime India Private Limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly.
The Objective Of The Issue –
- Part-funding working capital requirements of the company;
- To invest in cloud infrastructure and technology; and
- Funding inorganic growth through unidentified acquisitions and other strategic initiatives
- General corporate purposes.
Key Performance Indicator –
The market capitalization of Ixigo IPO is Rs 3603.04 Cr.
KPI as of December 31, 2023.
| Earning Per Share (EPS): | ₹0.58 per Equity Share |
| Price/Earning P/E Ratio: | 148.87 |
| Return on Net Worth (RoNW): | 5.74% |
| NAV | ₹11.43 per Equity Share |
Ixigo (Le Travenues Technology Limited) Financial Status –
Ixigo (Le Travenues Technology Limited) revenue increased by 34.46% and profit after tax (PAT) rose by 210.91% between the financial year ending with March 31, 2023 and March 31, 2022.
| Particulars(in Rs. Crores) | FY 23 | FY 22 | FY 21 |
|---|---|---|---|
| Revenue From Operations | 501.25 | 379.58 | 135.56 |
| EBIDTA | 6.14 | -6.95 | 45.04 |
| PAT | 23.39 | -21.09 | 7.53 |
| Total Assets | 585.92 | 538.47 | 185.07 |
| Total Borrowings | 198.80 | 195.78 | 155.13 |
Peers of Ixigo IPO –
The table below show peer comparison from DRHP/RHP.
| Company | EPS Basic | EPS Diluted | NAV | P/E(x) | RoNW | Financial statements |
|---|---|---|---|---|---|---|
| Le Travenues Technology Limited | 0.58 | 0.57 | 9.79 | 5.74 | Consolidated | |
| Easy Trip Planners Limited | 0.77 | 0.77 | 2.13 | 54.96 | 36.21 | Consolidated |
| Yatra Online Limited | 0.69 | 0.69 | 14.80 | 187.83 | 4.50 | Consolidated |
Ixigo IPOs Strengths –
- Leading online travel agency (“OTA”), with significant penetration in the under-served ‘Next Billion User’ market segment.
- Company has Artificial intelligence and technology driven operations .
- Established consumer travel brands built with a user-first approach .
- Company has a diversified business model with significant operating leverage and organic flywheel .
- Experienced management team and promoters.
IPOs Weakness –
- General decline or disruptions in the travel industry may impact the business.
- Train ticketing services depend on its agreement with IRCTC.
- OTA industry is highly competitive.
- Dependent on limited suppliers and distributors for significant portion of revenue from operations
- Company has incurred net losses in the past.
- Required significant working capital requirements.
Ixigo IPO GMP Today –
last GMP is ₹28, last updated Jun 10th 2024 02:25 PM.
Conclusion –
The company has high financial value in the market and is offering an IPO in the coming days. The company specializes in online travel ticketing systems. So if you are planning to invest in this upcoming IPO this article would be really helpful in knowing about the factual data of the company, and its performance.
Experienced investors may apply in the upcoming IPO after thorough evaluation of all the factors to gain rewards.
Also, investors should consult their financial advisor, conduct further due diligence, analyze industry trends and the competitive landscape, and consider risk factors before making an investment decision.
