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Ixigo files for a ₹1,600cr IPO
August 13, 2021
Gurugram-based internet ticketing startup Le Travenues Technology which operates the travel application ixigo has recorded the draft red herring prospectus (DRHP) to raise ₹1,600 crore through its initial public offer (IPO).
As per the starter outline submitted with the Securities and Exchange Board of India (SEBI), ixigo’s IPO would incorporate a fresh issue of ₹750 crores and an offer for sale (OFS) segment of ₹850 crores.
ixigo’s DRHP features that Elevation Capital (in the past known as SAIF) would sell shares worth ₹550 crores. In the interim, Micromax would sell shares worth ₹200 crores.
Both Aloke Bajpai and Rajnish Kumar, who established the organization in 2007, will sell shares worth ₹50 crores each.
Recently, MakeMyTrip, which put about $5 million in ixigo back in 2011, totally left Le Travenues Technology in front of its IPO. With this current, MakeMyTrip’s organizer Deep Kalra likewise ventured down from ixigo’s board post this sell-off.
The freely recorded organization has made around 8-overlay profit from its underlying interest in ixigo. It sold the shareholdings for $38.5 million, clocking $33.1 million as net returns.
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