ixigo Postpones INR 1,600cr IPO

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Travel booking platform ixigo has decided to postpone its INR 1,600 crore initial public offering (IPO) amid negative market sentiment. The IPO was scheduled to launch on March 28, 2023, but has now been postponed indefinitely.

The decision to postpone the IPO was made after careful consideration of the current market conditions and feedback from investors. The company stated that the decision was taken to ensure the best possible outcome for all stakeholders.

“Given the market sentiment, it doesn’t make sense to go for IPO right now”, said ixigo cofounder and group CEO Aloke Bajpai

“Given the state of the markets which haven’t eased out over the past six months, and neither are they stable at the moment with the SVB and other financial crises”, he added.

The company had planned to use the funds raised through the IPO for expansion and growth initiatives, as well as to meet general corporate purposes. ixigo’s decision to postpone the IPO comes at a time when several other companies in India have also delayed or cancelled their IPO plans due to negative market sentiments.

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Sarthak Luthra
Sarthak Luthra
Hey, there! I am the tech guy. I get things running around here and I post sometimes. ~ naam toh suna hi hoga, ab kaam bhi dekhlo :-)

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ixigo Postpones INR 1,600cr IPO

Travel booking platform ixigo has decided to postpone its INR 1,600 crore initial public offering (IPO) amid negative market sentiment. The IPO was scheduled to launch on March 28, 2023, but has now been postponed indefinitely.

The decision to postpone the IPO was made after careful consideration of the current market conditions and feedback from investors. The company stated that the decision was taken to ensure the best possible outcome for all stakeholders.

“Given the market sentiment, it doesn’t make sense to go for IPO right now”, said ixigo cofounder and group CEO Aloke Bajpai

“Given the state of the markets which haven’t eased out over the past six months, and neither are they stable at the moment with the SVB and other financial crises”, he added.

The company had planned to use the funds raised through the IPO for expansion and growth initiatives, as well as to meet general corporate purposes. ixigo’s decision to postpone the IPO comes at a time when several other companies in India have also delayed or cancelled their IPO plans due to negative market sentiments.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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Sarthak Luthra
Sarthak Luthra
Hey, there! I am the tech guy. I get things running around here and I post sometimes. ~ naam toh suna hi hoga, ab kaam bhi dekhlo :-)

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