The Securities and Exchange Board of India has given Le Travenues Technology Ltd., the company that runs the travel website Ixigo, permission to raise Rs 1,600 crore through an IPO.
The business intends to fund its working capital needs with INR 45 Cr from the proceeds of the IPO. To expand its tech stack and increase expenditures in data science and artificial intelligence (AI), among other areas, an additional INR 26 Cr would be allocated.
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Nearly two years have passed since the ixigo IPO was planned. In August 2021, the company initially submitted its DRHP for a 1,600 Cr initial public offering. Ixigo, however, decided to postpone its IPO preparations due to a market downturn.
About ixigo
Founded in 2007 by Aloke Bajpai and Rajnish Kumar, ixigo boasts over 150 million users and is the top travel platform in India. This innovative travel app uses artificial intelligence to help users plan, schedule, and monitor their travels.
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