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ixigo listing GMP today: Le Travenues Technology-owned travel aggregator ixigo is set to make its market debut on the Indian stock market on Tuesday, June 18, 2024. Ahead of the debut day, shares of ixigo were commanding a 31.18 per cent premium to its issue price in the grey market.
The grey market premium (GMP) for Ixigo shares as of June 17, 2024 stands at Rs 29. This suggests an estimated listing price of Rs 122 per share over its issue price of Rs 93 per share, reflecting a potential gain of 31.18 per cent, according to IPO platform Chittorgarh IPO.
The grey market operates as an unofficial marketplace where shares begin trading before their allotment in an IPO and continue trading up until the day of listing on the stock exchange, serving as an informal indicator for listing price of shares
The ixigo IPO, which concluded its subscription period on June 12, 2024, garnered significant investor interest, being oversubscribed by 98.34 times. The issue, priced in a band of Rs 88 to Rs 93 per share, saw strong participation across all investor categories.
Institutional investors subscribed 106.73 times, non-institutional investors 110.53 times, and retail investors 54.85 times by the final day of bidding.
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Ahead of the IPO, ixigo raised Rs 333.04 crore from anchor investors by allotting 35.8 million shares at Rs 93 each on June 7, 2024. The IPO itself comprises a fresh issue of Rs 120 crore and an offer for sale of up to 66.68 million shares, totaling Rs 620 crore at the upper price band. The total issue size stands at Rs 720 crore.
Proceeds from the IPO will be utilised primarily for various purposes including funding working capital requirements, investment in cloud infrastructure and technology, and potential inorganic growth through acquisitions.
The company, founded in 2006, operates as an online travel agency (OTA) under the brand ixigo, offering services for booking train, flight, bus tickets, and hotels.
The listing of ixigo IPO on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) is scheduled for June 18, 2024.
Axis Capital Limited, Dam Capital Advisors Ltd (formerly IDFC Securities Ltd), and JM Financial Limited are the book running lead managers for the IPO, with Link Intime India Private Ltd acting as the registrar for the issue.
