Ixigo Lists at 48% Premium at Rs 138.10 per share on NSE

Le Travenues Technology Limited, founded in 2006, is an online travel agency (OTA) that enables travelers to book train, flight, and bus tickets, as well as hotels via its OTA platforms under the brand name “ixigo”, debuted on the Indian stock market today.

The company’s stock settled at Rs 135 per share on the BSE, representing an impressive 45.16% premium over the final issue price of Rs 93 per share. Additionally, on the NSE, the company’s shares opened at Rs 138.10 per share, indicating a gain of 48.49%. The market capitalisation on the BSE stands at around Rs 5390 crore.

IPO Proceeds 

The company proposes to utilize the Net Proceeds towards funding the following objects:

• Part-funding working capital requirements of the company.
• Investments in cloud infrastructure and technology.
• Funding inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes.

Business Overview

Le Travenues Technology Limited, founded in 2006, is an online travel agency (OTA) that enables travelers to book 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 services, and automated customer support.

Subscription details

As of June 12, 2024, Ixigo IPO was subscribed 98.10 times. The public issue saw a subscription rate of 53.95 times in the retail category, 106.73 times in the QIB category, and 110.25 times in the NII category.

The IPO price band was Rs 88 and Rs 93, with a face value of Rs 1 per share and a lot size of 161 shares. The total size of the company’s IPO was Rs 740.10 crore, and the final share issue price was fixed at Rs 93 each.

Conclusion 

The crucial question that arises in everyone’s mind is whether to hold onto the shares or book profits. Investors who applied for listing gains only have already earned 48% on the listing day itself and can choose to book the profit generated or watch for at least the first 15 minutes and then set a stop-loss at the day’s low price. On the other hand, investors with a higher risk appetite may opt to hold the shares for the medium to long term, which could prove to be beneficial.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.