SUMMARY
The company’s initial public offering (IPO) will comprise a fresh issue of INR 120 Cr and an OFS component of 6.66 Cr equity shares
The fresh proceeds will be utilised to fund the startup’s working capital requirements, ramp up its tech stack and to shore up inorganic growth via acquisitions
SAIF Partners India, Peak XV Partners, Micromax Informatics and cofounders Aloke Bajpai and Rajnish Kumar are among the investors who will sell shares via OFS
Online travel aggregator (OTA) ixigo’s parent Le Travenues Technology Ltd refiled its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Wednesday (February 14).
As per the DRHP, the startup’s initial public offering (IPO) will comprise a fresh issue of INR 120 Cr and an offer for sale (OFS) component of 6.66 Cr equity shares.
SAIF Partners India, Peak XV Partners, Micromax Informatics and cofounders Aloke Bajpai and Rajnish Kumar are among the investors who will sell shares via OFS.
The startup would use INR 45 Cr from the IPO proceeds for its working capital requirements. Of the remaining, INR 26 Cr will be deployed to ramp up its tech stack and scale up investments in data science, artificial intelligence, among others.
The funds raised from the IPO will also be used for general corporate purposes and to shore up inorganic growth via acquisitions.
This is the company’s second attempt at a public listing. It first filed DRHP for an INR 1,600 Cr IPO in 2021. However, ixigo shelved its public listing plans last year due to negative macroeconomic environment
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.
