Ixigo IPO Allotment: Verify Application Status, Latest GMP & Listing Date of Le Travenues
The IPO of Le Travenues Technology, based in Gurugram, was open for bidding from June 10 to June 12. Offered in the fixed price range of Rs 88-93 per share with a lot size of 161 shares, the company raised over Rs 740.10 crore through its primary offering. This included a fresh share sale of Rs 120 crore and an offer-for-sale (OFS) of up to 6,66,77,674 equity shares.
The response to the IPO was overwhelming, with the issue being oversubscribed by an impressive 98.34 times. Qualified institutional bidders (QIBs) subscribed 106.73 times, while non-institutional investors subscribed 110.53 times. Retail investors also showed significant interest, with the portion allocated to them seeing a subscription of 54.85 times during the bidding period.
The grey market premium (GMP) of Ixigo IPO saw a substantial increase due to strong demand during bidding. Currently, the company commands a premium of Rs 35-36 per share, indicating a potential listing pop of around 39 percent for investors. At the start of the bidding, the GMP was approximately Rs 23-25 per share.
Founded in 2006, Le Travenues Technology operates as an online travel agency (OTA) under the brand name 'Ixigo', offering services for booking train, flight, and bus tickets as well as hotels. The company boasts the highest app usage among OTAs, with a cumulative 83 million monthly active users across its apps.
Most brokerage firms view the IPO positively, recommending investors to subscribe based on industry trends, brand recognition, and scalability of the business, which could lead to increased profitability. However, some analysts express concerns regarding the company's high valuations and reliance on a wide range of travel suppliers.
JM Financial, DAM Capital Advisors (formerly IDFC Securities), and Axis Capital are the book running lead managers for the Ixigo IPO, with Link Intime India serving as the registrar for the issue. The company's shares are set to be listed on both the BSE and NSE, with Tuesday, June 18, tentatively scheduled as the listing date.
Investors who participated in the Le Travenues Technology (Ixigo) IPO can check their allotment status on the Bombay Stock Exchange (BSE) website or through the online portal of Link Intime India, the registrar to the issue.
Readers are reminded that the information provided here is for informational purposes only and should not be considered as investment advice. It's advisable to consult with a qualified financial advisor before making any investment decisions.
