[Funding News] Ixigo Secures Rs 333 Cr from Anchor Investors Ahead of IPO

As part of its first public offering, parent firm Le Travenues Technology Limited, which operates the travel booking platform Ixigo, has made shares valued at Rs 333 crore ($40 million) available to anchor investors.

The money will be utilized for general business needs and to assist inorganic expansion through acquisitions.

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Ixigo's regulatory filing, retrieved from the Bombay Stock Exchange, indicates that the board has resolved to offer 3,58,11,405 equity shares at an issue price of Rs 93 apiece to its anchor investors.

The following anchor investors have received shares: Tata Investment Corporation, Bajaj Allianz Life Insurance Company, Morgan Stanley, WhiteOak Capital, Bay Capital India Find, SBI Mutual Fund, HDFC Mutual Fund, and the Government of Singapore.

Ixigo plans to commence its initial public offering on June 10th, 2024, with a minimum bid size of 161 shares and a price range of Rs 88-93.

According to the ixigo, qualified institutional buyers (QIBs) would receive 75% of the issue size, non-institutional investors will receive 15%, and retail investors will receive the remaining 10%. A minimum of 161 shares, as well as multiples of those shares, are up for bid.

About Ixigo

Founded in 2007 by Aloke Bajpai Rajnish Kumar,  ixigo is India’s #1 mobile travel platform with over 150 million users. It is an intelligent, AI-based travel app that helps travelers organize, book and track their trips.

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