Online travel platform Ixigo plans to raise Rs 740.1 crore through its initial public offering, which set to open on June 10. The IPO consists of a fresh issue of 1.29 crore shares totaling Rs 120 crore and an offer for sale of 6.67 crore shares amounting to Rs 620.1 crore.
The company will list on both the NSE and BSE post the IPO, which will close on June 12. The allotment is expected to be finalised on June 13, and the tentative listing date is June 18. Investors who bid for the issue can check the ixigo IPO allotment status here.
The price band is set between Rs 88 per share and Rs 93 per share. The minimum lot size for retail investors is 161 shares, requiring an investment of at least Rs 14,973. For small non-institutional investors, the minimum lot size is 14 lots (2,254 shares), amounting to Rs 2.09 lakh. Minimum lost size for big non-institutional investors is 67 lots (10,787 shares), totaling over Rs 10 lakh.
Issue Details
Issue opens: June 10.
Issue closes: June 12.
Issue price: Rs 88 to 93 per share.
Fresh issue: Rs 120 crore.
Offer for sale: Rs 6.6 crore.
Total issue size: Rs 740.1 crore.
Bid lot: 161 shares.
Listing: BSE and NSE.
Business
Ixigo offers a range of travel services, including passenger name record status and confirmation predictions, train seat availability alerts, train running status updates, delay predictions, alternative route planning, flight status updates, automated web check-in, bus running status check, price and availability alerts, deal discovery, destination content, personalised recommendations, instant fare alerts for flights, artificial intelligence-based travel planning, and automated customer support.
Ixigo's online platforms include:
Ixigo trains and Confirmtkt app: Facilitates train ticket search, booking, payment, and real-time train information. Tickets are delivered via email, SMS, and WhatsApp, with post-sales support.
Ixigo mobile app: Allows booking of air tickets, train tickets, buses, and hotels, accessible on Android and iOS. Users can manage bookings and request e-tickets through messaging platforms.
Abhibus app: Provides bus amenities, price comparisons, schedules, and other facilities through the website and mobile app.
Ixigo has the highest app usage among online travel agencies, with 83 million monthly active users across its apps as of September 2023.
Recently, it launched Ixigo Plan, an AI-based travel planner offering detailed itineraries and real-time destination information, with a generative AI plugin for conversational interactions.
It also launched Ixigo Assured Flex, which is a value-added service for flexible air and rail tickets with no additional payment for cancellation or rebooking, apart from the price difference.
Financials
Between fiscal 2021 and 2023, Ixigo's revenue from operations grew at a compound annual growth rate of 92.29%, reaching Rs 501 crore in fiscal 2023. Despite a loss of Rs 21 crore in fiscal 2022, the company made profits of Rs 66 crore for nine months ended Dec. 31, 2023.
Key Risks
Limited experience of operating as an online travel agency.
General decline or disruption in the travel industry.
Security breach of personal data and compliance with privacy regulations.
Highly competitive online travel agency industry.
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