ixigo share price makes a stellar debut, stock opens with 48.5% premium at ₹138.10 apiece on NSE

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ixigo share price made a positive debut on the bourses today. On NSE, ixigo share price opened at 138.10 per share, 48.5% higher than the issue price of 93. On BSE, ixigo share price today opened at 135 apiece, up 45.16% than the issue price.

Market experts anticipated ixigo share price to open in the range of 120 to 125 per share.

During the three-day subscription period, investors were full of enthusiasm about Le Travenues Technology’s IPO, which operates the travel booking site ixigo. The 740 crore offer began on Monday, June 10 and finished on Wednesday, June 12. The ixigo IPO subscription status was 98.34 times on the final day of bidding today.

Aloke Bajpai and Rajnish Kumar established Le Travenues Technology in 2007, which is one of the country’s leading online travel aggregators, supporting travelers in planning, booking, and managing their journeys by rail, plane, bus, and hotel.

According to market experts, Le Travenues ltd’s (ixigo) IPO offers investors a unique opportunity to invest in a key player in India’s online travel agency (OTA) industry, with a focus on the “next billion users.”

The offer price is set between 88 and 93 per share. Le Travenues Technology reported that it obtained 333 crore from key investors. Axis Capital, DAM Capital Advisors, and JM Financial are the book running lead managers (BRLMs) for the offer.

ixigo IPO details

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ixigo IPO details

ixigo IPO details

The ixigo IPO in Gurugram combines a fresh issuance of equity shares worth 120 crore with an offer for sale (OFS) of 6.66 crore equity shares worth 620 crore by existing shareholders at the top of the price range.

The proceeds of the new offering would be used to meet the company’s working capital needs, with 26 crore spent in technology and data science, such as cloud and server hosting, artificial intelligence, and customer engagement. In addition, capital will be utilised to fund inorganic growth through acquisitions as well as overall corporate goals.

ixigo IPO GMP today

ixigo IPO GMP today or grey market premium is +30.50. This indicates ixigo share price were trading at a premium of 30.50 in the grey market, according to investorgain.com.

Given the top end of the IPO price band and the current grey market premium, the expected listing price for the ixigo IPO was 123.5 per share, or 32.8% more than the IPO price of 93.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

 

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Published: 18 Jun 2024, 10:00 AM IST

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