GMP IPO: Exciting Opportunity for Investors
🚀 Online travel platform ixigo’s parent company, Le Revenue Technology, is set to launch its IPO on 10th June. The IPO price range has been set at ₹88-93 per share, with the offering open from 10th to 12th June. The company will issue 120 crore new shares in the IPO, along with an offer-for-sale of approximately 6.67 crore shares from existing shareholders, totaling a value of around ₹620 crore. The total size of the IPO is expected to be ₹740 crore.
📈 Shareholders participating in the offer-for-sale include Safe Partners India IV, Peak XV Partners Investment V, Alok Bajpai, Rajneesh Kumar, Micromax Informatics, Placid Holdings, Catalyst Trusteeship, and Madison India Capital H.C. Safe Partners and Peak XV hold the largest stakes in the company at 23.37% and 15.66% respectively.
⭐️ ixigo is a tech-based travel company focused on booking trains, flights, buses, and hotels, as well as planning trips. Despite a loss of ₹21.09 crore in the previous fiscal year, the company posted a net profit of ₹23.4 crore in FY23. Its operational revenue in FY23 increased by 32% to ₹501.3 crore.
💰 The company’s net profit for the first nine months of FY24 increased by 252.1% to ₹65.7 crore, while revenue grew by 34.8% to ₹491 crore. Axis Capital, DAM Capital Advisors, and JM Financial have worked as lead managers for this issue.
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