Online travel aggregator ixigo gets Sebi nod for Rs 1,600-crore IPO

Le Travenues Technology, which operates online travel aggregator ixigo, has received stock market regulator nod to launch its Rs 1,600-crore share- sale offer.

The offer comprises fresh issue of shares worth Rs 750 crore and an offer for sale (OFS) of equity shares of Rs 850 crore by existing shareholders.

According to sources, the firm is expected to list early next year. Proceeds of the fresh issue will be used to fund the company’s organic and inorganic growth initiatives and for general corporate purposes.

As part of the OFS, Saif Partners India IV will sell shares worth Rs 550 crore, Micromax Informatics will sell shares worth Rs 200 crore, and Aloke Bajpai and Rajnish Kumar will divest stakes worth Rs 50 crore each.

Launched in 2007 by Bajpai and Kumar, ixigo provides booking and trip planning services across rail, airbuses, and hotel segments.