ixigo’s Parent Company Lists with 45% Premium on BSE; Le Travenues Technology Lists at 48.50% Premium on NSE, IPO Price Rs. 93
ixigo, the travel aggregator and parent company of Le Travenues Technology, made a stellar entry into the share market today. The company’s shares were listed at Rs. 135 on the Bombay Stock Exchange (BSE) at a premium of 45%. Simultaneously, on the National Stock Exchange (NSE), the shares were listed at Rs. 138.10, marking a 48.50% increase.
Le Travenues Technology had initially offered its IPO at a price range of Rs. 88 to Rs. 93. Retail investors could bid for shares from June 10th to June 12th.
The IPO received overwhelming response with an oversubscription rate of 98.10 times. The issue was subscribed 53.95 times in the retail category, 106.73 times in the Qualified Institutional Buyers (QIB) category, and 110.25 times in the Non-Institutional Investors (NII) category.
Le Travenues Technology Raises ₹740.10 Crores through IPO
Le Travenues Technology’s IPO amounted to a total of ₹740.10 crores. To achieve this, the company issued 12,903,226 new shares at a price of ₹120 per share. Concurrently, existing shareholders offered for sale (OFS) 79,580,900 shares at ₹740.10 each.
Reservation Details for TravelNews Technology IPO
During the IPO of Le Travenues Technology Limited, 75% of the issue was reserved for Qualified Institutional Buyers (QIBs). Approximately 10% of the shares were reserved for retail investors, while the remaining 15% were allocated for Non-Institutional Investors (NIIs).
Establishment and Services of TravelNews Technology Limited
Established in 2006, Le Travenues Technology Limited operates as an online travel agency (OTA) facilitating bookings for trains, flights, buses, and hotels through its ixigo app.
Apart from providing approvals for travelers, the app offers various features including PNR status and confirmation prediction, train seat availability alerts, train running status updates, flight status updates, and automated web check-in services. As of December 31, 2023, the company employed 486 individuals.
