ixigo makes a stellar debut, list at 48% premium

ixigo's share price opened at Rs 138.10 per share, marking a 48.5% increase from the issue price of Rs 93. (Photo: Website/ ixigo)

ixigo shares made a strong debut on the stock exchanges today, opening significantly higher than the issue price. On the NSE, ixigo shares opened at Rs 138.10 per share, a 48.5% increase from the issue price of Rs 93. On the BSE, the shares opened at Rs 135 apiece, up 45.16% from the issue price.

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Investor enthusiasm for Le Travenues Technology’s IPO, the company behind the travel booking site ixigo, was evident during the three-day subscription period. The Rs 740 crore offer opened on Monday, June 10, and closed on Wednesday, June 12. By the final day of bidding, the IPO subscription status had reached an impressive 98.34 times.

Market experts highlight that Le Travenues Ltd’s (ixigo) IPO provides investors with a unique opportunity to invest in a key player within India’s online travel agency (OTA) industry, especially targeting the “next billion users.”

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

Founded in 2007 by Aloke Bajpai and Rajnish Kumar, Le Travenues Technology has established itself as a leading online travel aggregator in India. The company aids travelers in planning, booking, and managing their journeys by rail, plane, bus, and hotel.