Shares of Le Travenues Technology (Ixigo) were currently trading at Rs 144.50 at 10:10 IST on the BSE, representing a premium of 55.38% as compared with the issue price of Rs 93.
The scrip was listed at Rs 135, exhibiting a premium of 45.16% to the issue price.So far, the stock has hit a high of 144.90 and a low of 135. On the BSE, over 24.62 lakh shares of the company were traded in the counter so far.
The initial public offer (IPO) of Le Travenues Technology was subscribed 98.34 times. The issue opened for bidding on 10 June 2024 and closed on 12 June 2024. The price band of the IPO was fixed at Rs 88 to 93 per share.
The offer comprised of fresh issue of Rs 120 crore and an offer for sale of 6,66,77,674 equity shares.
Out of the proceeds from the fresh issue, Rs 45 crore will be used to fund the working capital requirements; Rs 25.8 crore towards investment in cloud infrastructure and technology, and the balance to fund inorganic growth through unidentified acquisitions and other strategic initiatives and for general corporate purpose.
Le Travenues Technology was founded in 2006 and is an online travel agency (OTA) that enables travelers to book train, flight, and bus tickets as well as hotels via its OTA platforms under the brand name ixigo.
The company's list of services includes PNR status and confirmation predictions, train seat availability alerts, train running status updates and delay predictions, alternative route or transportation planning, flight status updates, automated web check-in, bus running status, price and availability alerts, deal discovery, destination content, personalized recommendations, instant fare alerts for flights, AI-based travel planning service and automated customer support.
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The firm reported a net profit of Rs 66.80 crore and net sales of Rs 491.02 crore for the nine months ended on 31 December 2023.
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