Bumper market debut: Ixigo shares debut at 49% premium to IPO price
This was much better than grey market expectations which indicated a debut of almost 30 per cent.
Shares of Le Travenues Technology, parent company of travel aggregator Ixigo, made a bumper debut on the bourses today (June 18). The shares listed at ₹138.10 on the NSE- a premium of 48.5 per cent over the issue price of ₹93. This was much better than grey market expectations which indicated a debut of almost 30 per cent.
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The ₹720 crore public offer received a great response from investors as it was subscribed 98.34 times with Non-Institutional Investors (NIIs) subscribing the portion set aside for them 110.5 times, Qualified Institutional Buyers (QIBs) bidding for the their allotted portion 106.7 times, retail investors subscribing 54.8 times. With this, Ixigo became the 10th most subscribed IPO of 2024.
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Through the IPO, the company will use net proceeds to fund its working capital needs, invest in cloud infrastructure and technology, finance potential acquisitions and other strategic initiatives as well as general corporate expenses.