IPO Calendar: Ixigo's Rs 740 crore issue, 4 listings on primary market radar next week

With a flurry of IPOs in the last two years, India has emerged as the second largest IPO market in the world. Now that the election outcome is out of the way, analysts expect the IPO boom to notch a level higher.

"We witness significant capital to be deployed in public markets and strong demand for new-age as well as conventional companies. Companies with good fundamentals will go public and attract large amounts of capital from the street," said Mahavir Lunawat, Managing Director, Pantomath Capital.

In the upcoming week, there is a sole public offer of Le Travenues Technology, which operates travel platform Ixigo, set to be launched. Apart from this, D-Street is likely to see four listings including that of Kronox Labs.


The issue of Kronox Labs received overwhelming response from investors with a subscription of over 100 times and the stock is set to debut at the bourses on June 10. Three other SME IPOs, which were launched in the week gone by, will also see their shares listed on the SME platforms of both the exchanges.

Ixigo IPO

Le Travenues Technology, which operates travel platform Ixigo, is set to launch its public offer for Rs 740 crore on June 10. The issue closes on June 12.

The company on Friday raised around Rs 333 crore from anchor investors. Some of the marquee investors who subscribed to Ixigo's anchor book include Nomura, Morgan Stanley, 3P India Equity Fund, HDFC MF, Motilal Oswal MF, Government of Singapore, Tata Investment Corp among others.

Ixigo had already announced a pre-IPO secondary placement of around Rs 176.2 crore at the top end of price band, completed a day prior to anchor book opening.

The IPO comprises fresh equity sale of Rs 120 crore and offer for sale (OFS) of up to 6.66 crore shares. Under the OFS, SAIF Partners, Peak XV Partners, Aloke Bajpai, Rajnish Kumar, Micromax Informatics and Placid Holdings will offload part of their stakes.

The company has fixed a price band of Rs 88-93 per share and investors can bid for 161 shares in one lot and in multiples thereafter.

About 75% of the offering is reserved for qualified institutional bidders (QIBs) while 15% is reserved for non-institutional investors and the remaining 10% for retail investors.

Net proceeds from the public offer are proposed to be utilised for funding working capital requirements, investments in tech, funding inorganic growth through acquisitions and other strategic initiatives and general corporate purposes.

Ixigo is a technology company focused on empowering Indian travelers to plan, book and manage their trips across rail, air, buses and hotels. It assists travelers in making smarter travel decisions by leveraging artificial intelligence, machine learning and data science led innovations on its OTA platforms.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)