Ixigo IPO

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Ixigo IPO

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agarwaladarsh36

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InvestMentor

SECURITIES LTD.

LE TRAVENUES TECHNOLOGY LTD

IPO
ILe Travenues Technology Limited 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"

www.investmentoronline.com +91-9033002260

14th Floor, Solitaire Sky, Ashram,

[email protected]
Ahmedabad, Gujarat 380014
INVESMENTOR SECURITIES 02

Rating:
Neutral
IPO Date June 10, 2024 to June 12, 2024

Listing Date -

Face Value ₹1 per share

Price Band ₹88 to ₹93 per share

Lot Size 161 Shares

79,580,900 shares
Total Issue Size
(aggregating up to ₹740.10 Cr)

12,903,226 shares
Fresh Issue
(aggregating up to ₹120.00 Cr)

66,677,674 shares of ₹1
Offer for Sale
(aggregating up to ₹620.10 Cr)
INVESMENTOR SECURITIES 03

The company is the second-largest OTA in India in terms of consolidated revenue from operations in
FY23. It is also the leading OTA for the ‘next billion users’, and in September 2023, its OTA platforms
collectively saw the highest usage and engagement among all key OTA players and standalone
transactional train mobile apps in India.
In September 2023, it served 83 million monthly active users across its apps. It had 4.9 million
monthly app downloads, and 42 million transactions were booked through its platforms as of Q3
FY24. It uses a multi-app strategy to target distinct customer segments.
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, etc.

Competitive Strengths
Leading OTA with significant penetration in the underserved ‘next billion user’ market segment.
Next billion users’ refers to an existing as well as anticipated market of “new to internet” users that
includes all non-Tier I market demand and comprised 60%-65% of the overall travel market in FY223.
Artificial intelligence and technology-driven operations such as ixigo PLAN, an intelligent AI-based
trip planner; ixigo Assured Flex, which allows the purchase of a fully flexible airline or train ticket;
and an AI driven personal travel assistant, TARA.
Established consumer travel brands such as the ixigo group apps were one of the highest-rated apps
among OTAs, with a rating of 4.6 on the Google Play Store as of November 2023.
A comprehensive mix of product and service offerings with a presence across trains, flights, buses
and hotels allows it to monetize all aspects of its OTA platforms and gives operating leverage.

Risks and threats

Limited experience of operating as an OTA as it originally commenced operations as a meta search
website.
Affected by trends in the travel industry, which can adversely affect its business.
Operates in a highly competitive Indian OTA industry and faces competition from MakeMyTrip,
EaseMyTrip, Yatra.com, Cleartrip, PayTM, Amazon, RailYatri, Goibibo, and Redbus.
The travel industry is sensitive to and can be negatively affected by safety concerns, terrorist attacks,
regional conflicts, health concerns, natural calamities, regulatory restrictions or other catastrophic
events.
Has incurred a net loss of ₹21 crore in FY22 owing to an increase in expense due to the employee
stock option scheme and the impact of the COVID-19 pandemic.
Had negative cash flows from operating activities amounting to ₹15 crore and ₹34 crore in FY21 and
FY22 due to the COVID-19 pandemic and consequent lockdowns.
INVESMENTOR SECURITIES 04

Financials &
Comparison
(Past 3 Years)

Particulars
FY 2023 FY 2022 FY 2021
(Rs. in Crores)

Assets 585.93 538.47 185.07

Revenue 517.57 384.94 138.41

Profit After Tax 23.40 -21.09 7.53

Net Worth 373.76 342.69 29.94

Reserves and Surplus 334.17 303.22 -212.60

Total Borrowing 0.54 2.73 14.94

Objectives of the Issue

Part-funding working capital requirements of the company;
Investments in cloud infrastructure and technology; and
Funding inorganic growth through unidentified acquisitions
and other strategic initiatives and general corporate purposes.
InvestMentor
SECURITIES LTD.

How to apply for the Ixigo IPO?

If you are interested in this investment opportunity but unsure how to
apply for the Le Travenues Technology Limited IPO, here we are listing out
the steps for you.
When the public issue opens for subscription, one can follow this step-by-
step guide on how to apply for the Le Travenues Technology Limited IPO
on Investmentor:
Login to your Investmentor account, using your four-digit PIN
After successfully logging in, click on ‘Discover’
On the Discover tab, you will find the ‘IPO’ section
Under the IPO section, Click on the IPO Name Tab & Select
‘Le Travenues Technology Limited’
Now fill in all the required information, like ‘Cut off price’ and ‘lot size’
Enter your UPI ID
Confirm and click on ‘Submit Request’
Accept the mandate on your UPI app

www.investmentoronline.com +91-9033002260