Ixigo - Le Travenues Technology IPO Details, Financials, Valuation & Peers
Get everything you need to know about the Ixigo - Le Travenues Technology IPO. Explore Ixigo - Le Travenues Technology IPO details, including IPO dates, financial statements, valuation, peer comparison, and more.
Overview
Le Travenues Technology Limited, operating under the brand name ixigo, is a leading technology company dedicated to enhancing the travel experience for Indian travelers. Established with the vision of becoming the most customer-centric travel company, ixigo provides comprehensive travel planning, booking, and management services across rail, air, bus, and hotel segments. The company's platforms leverage proprietary algorithms and crowd-sourced information to offer innovative travel utility tools and services. Focused on the 'next billion user' market, ixigo is recognized for its localized content and features tailored to Tier II and Tier III cities, making it the fastest-growing OTA in India. The company effectively cross-sells flight bookings to users of its ixigo trains app, ConfirmTkt, and AbhiBus, bolstered by strategic acquisitions of ConfirmTkt and AbhiBus in 2021.
Key Points:
- Diverse Travel Services: ixigo offers an extensive range of travel services including train, flight, bus, and hotel bookings, along with advanced travel utility tools like PNR status, seat availability alerts, and real-time travel updates.
- Service Offerings: Over the lifecycle of our users, we effectively cross-sell and up-sell various tickets and value-added services such as ixigo Assured, ixigo Assured Flex, Abhi Assured, seat selection, in-flight meals, visa processing, travel insurance, and car rental services, enhancing the overall travel experience and customer satisfaction.
- Market Leadership: The company is the largest Indian train ticket distributor in the OTA rail market, with a 51% market share as of March 31, 2023, and significant presence in the bus and flight booking segments.
- Technological Innovation: ixigo utilizes in-house proprietary algorithms and AI-driven solutions to provide personalized recommendations, automated customer support, and enhanced user experience.
- Rapid Growth: With a revenue CAGR of 92.29% from Fiscal 2021 to 2023, ixigo is the fastest-growing OTA in India. The company reported revenues of ₹4,910.21 million in the nine months ended December 31, 2023.
- Extensive User Base: ixigo boasts 83 million monthly active users across its apps and had 49.07 million transactions in Fiscal 2023. The platform's high engagement is reflected in its 23 monthly average sessions per user.
- Focus on 'Next Billion Users': The company caters to non-Tier I cities, addressing the needs of new internet users from middle and lower-income groups, which comprise over 60-65% of the overall travel market.
- Innovative Offerings: ixigo continuously introduces new services such as ixigo Assured, automated web check-ins, travel insurance, and car rentals, enhancing customer satisfaction and loyalty.
Objects of the Issue
- Part-funding working capital requirements of the Company
- Investments in cloud infrastructure and technology
- Funding inorganic growth through unidentified acquisitions and other strategic initiatives
- General corporate purposes
IPO Details
Discover essential information crucial for understanding an IPO, including the Price Band, Fresh Issue, Offer For Sale, Total IPO Size and more. Explore these key details to gain insight into the company's public offering.
| Fields | Details |
|---|---|
| IPO Dates | 10 Jun - 12 Jun 2024 |
| IPO Price Band | ₹ 88 – 93 per share |
| Fresh Issue | ₹ 120 crore |
| Offer For Sale | Up to 66,677,674 shares (₹ 620.10 crore) |
| Total IPO Size | Approx ₹ 740.10 crore |
| Face Value | ₹ 1 |
| Listing On | BSE, NSE |
IPO Timeline
Explore important dates like IPO opening, closing, listing and others, outlining the journey of the Public Offering. This will help you grasp the entire IPO journey effortlessly.
| Event | Date |
|---|---|
| IPO Opening Date | 10 Jun 2024 |
| IPO Closing Date | 12 Jun 2024 |
| Basis Of Allotment | 13 Jun 2024 |
| Refunds | 14 Jun 2024 |
| Demat Transfer | 14 Jun 2024 |
| IPO Listing Date | 18 Jun 2024 |
Financial Statements
Explore a comprehensive financial data table showcasing key metrics including revenue, expenses, net income, and others. Gain valuable insights about the company's financial performance at a glance, facilitating informed decision-making and strategic planning for subscribing to the IPO.
| Period Ended | 31st March 2021 | 31st March 2022 | 31st March 2023 | Dec 2023 |
|---|---|---|---|---|
| Total Income | 138.41 | 384.94 | 517.57 | 497.10 |
| Total Expenses | 135.70 | 402.54 | 484.29 | 475.48 |
| Net Profit/Loss | 7.53 | -21.09 | 23.40 | 65.71 |
| NPM (*) | 5.44 | -5.48 | 4.52 | 13.22 |
| Total Assets | 185.07 | 538.47 | 585.93 | 678.71 |
| Total Liabilities | 155.13 | 195.79 | 198.81 | 241.58 |
* NPM represents the net profit margin, calculated as a percentage. All other figures are presented in crore (₹cr)
Valuation
Uncover significant valuation metrics such as EPS (Earnings Per Share), ROE (Return on Equity), ROCE (Return on Capital Employed), D/E Ratio (Debt-to-Equity Ratio), Current Ratio, and EBITDA Margin. These key indicators offer insights into the company's financial standing and performance, aiding in informed investment decisions.
| Period Ended | 31st March 2021 | 31st March 2022 | 31st March 2023 | Dec 2023 |
|---|---|---|---|---|
| EPS | 0.25 | -0.66 | 0.57 | 1.75 |
| ROE (%) | 25.17 | -6.16 | 6.04 | 15.03 |
| ROCE (%) | NA | NA | NA | NA |
| D/E Ratio | 3.80 | 0.14 | 0.08 | 0.11 |
| Current Ratio | 0.68 | 1.71 | 1.60 | 1.36 |
| EBITDA MARGIN (%) | 6.06 | 1.63 | 8.85 | 7.78 |
* Compiled from DRHP/RHP for valuation purposes.
Peer Comparison
Compare key financial metrics with industry peers to gain valuable insights into the company's performance compared to its competitors.
| Name | Revenue | P/E | EPS | RoNW | NAV |
|---|---|---|---|---|---|
| Le Travenues Technology Limited | 501.25 | 163.16 | 0.57 | 5.74 | 9.79 |
| Easy Trip Planners Limited | 448.83 | 54.96 | 0.77 | 36.21 | 2.13 |
| Yatra Online Limited | 380.16 | 187.83 | 0.69 | 4.50 | 14.80 |
* Revenue in (₹cr), RoNW in (%), EPS, NAV in (₹). P/E ratio is based on the highest price from the IPO price band.
Subscription Data from NSE and BSE
| Investor Type | Subscribed |
|---|---|
| Qualified Institutional Buyer (QIB) | 106.73 |
| Non-Institutional Investor (NII) | 110.25 |
| Retail Individual Investor (RII) | 53.95 |
| Total | 98.1 |
* All figures represent multiples of the subscription. Check subscriptions for other ongoing issues here.
IPO Registrar
Link Intime India Private Ltd
Phone: + 91 810 811 4949
Email: ipo.helpdesk@linkintime.co.in
Website: https://linkintime.co.in/
Company Promoters
The Company does not have an identifiable promoter in terms of SEBI ICDR Regulations and the Companies Act 2013.
Lead Managers
- Axis Capital Limited
- DAM Capital Advisors Limited
- JM Financial Limited
Company Address
Le Travenues Technology Limited
Second Floor, Veritas Building, Sector - 53, Golf Course Road, Gurugram 122 002, Haryana, India
Phone: (+91 124) 668 2111
Email: investors@ixigo.com
Website: www.ixigo.com
FAQs
- What is the issue size of the Ixigo - Le Travenues Technology IPO?The Ixigo - Le Travenues Technology IPO has an issue size of Approx ₹ 740.10 crore. This includes a fresh issue of ₹ 120 crore and an offer for sale (OFS) of Up to 66,677,674 shares (₹ 620.10 crore).
- What is the price band of the Ixigo - Le Travenues Technology IPO?The price band for the Ixigo - Le Travenues Technology IPO is ₹ 88 – 93 per share.
- What are the bidding dates for the Ixigo - Le Travenues Technology IPO?The Ixigo - Le Travenues Technology IPO will open for bidding on 10 Jun 2024 and close on 12 Jun 2024.
- What is the allotment date for the Ixigo - Le Travenues Technology IPO?The allotment date for the Ixigo - Le Travenues Technology IPO is 13 Jun 2024.
- What is the listing date for the Ixigo - Le Travenues Technology IPO?The listing date for the Ixigo - Le Travenues Technology IPO is 18 Jun 2024.
- What is the Ixigo - Le Travenues Technology IPO grey market premium?The grey market premium (GMP) for the Ixigo - Le Travenues Technology IPO is currently at ₹30.5, with an expected listing gain of approximately 32.8%. Remember, the grey market premium is not an official indicator, but it reflects market perception and demand for the IPO shares.