MUMBAI: Le Travenues Expertise Ltd, which operates journey platform ixigo, has filed a draft purple herring prospectus with the Securities Trade Board of India to boost ₹1,600 crores through preliminary public providing.
The IPO consists of a contemporary difficulty of ₹750 crores and a proposal on the market of ₹850 crores by its present shareholders and promoters.
The provide on the market (OFS) includes gross sales of as much as ₹50 crores by Aloke Bajpai, ₹50 crores by Rajnish Kumar, ₹550 crores by Saif Companions India IV, and ₹200 crores by Micromax Informatics. Presently, Aloke Bajpai holds a 9.18% stake within the agency, Rajnish Kumar (8.79%), SAIF Companions (23.97%), and Micromax has a 7.61% stake within the agency.
ICICI Securities, Axis Capital, Kotak Mahindra Capital, Nomura Monetary Advisory, and Securities are the lead managers to the problem.
The proceeds from the problem will likely be used for natural and inorganic development initiatives. Natural development initiatives embody prices incurred in the direction of reductions and different promotional incentives to draw new customers to OTA platforms, gross sales, advertising and marketing, and distribution bills, and investments within the growth of our know-how infrastructure. Inorganic development initiatives embody acquisitions and different strategic initiatives.
Launched in 2007 by Aloke Bajpai and Rajnish Kumar, ixigo is a know-how firm targeted on empowering Indian travelers to plan, e-book, and handle their journeys through rail, air, buses, and inns. It assists travelers in making smarter journey selections by leveraging synthetic intelligence, machine studying and knowledge science-led improvements on OTA platforms, comprising its websites and cellular functions.
Its OTA platforms enable travelers to e-book practice tickets, flight tickets, bus tickets, inns, and cabs, whereas offering journey utility instruments and providers developed utilizing in-house proprietary algorithms and crowd-sourced info, together with practice PNR standing and affirmation predictions, practice seat availability alerts, practice working standing updates and delay predictions, flight standing updates, bus working standing, pricing and availability alerts, deal discovery, vacation spot content material, personalized suggestions, on the spot fare alerts for flights and automatic buyer help providers.
For FY21, it’s the largest Indian OTA within the online practice bookings phase and train-centric cellular functions. ixigo trains and ConfirmTkt, have been collected as the main B2C distribution platforms for IRCTC with 42% market share, by way of rail bookings among the many OTAs and B2C distributors of IRCTC.
Its bus targeted app, AbhiBus, was the second-largest bus-ticketing OTA in India, with a ten% market share in online bus ticket bookings. It is usually the third-largest flight OTA in India with a market share of 12% in online air bookings.
Gurugram primarily based online journey ticket aggregator’s mixed gross transaction worth (making an allowance for the operations of ConfirmTkt and AbhiBus within the related interval) was at ₹2,694.60 crore. It has the very best app utilization amongst OTAs with 37.48 million customers and can be the quickest rising OTA by way of app downloads, with 3.75 million month-to-month app downloads in March 2021.
Regardless of the impression of covid-19, it had 136.26 million distinctive customers and eight.56 million transactions have been booked by means of its OTA platforms. Within the June quarter, ixigo trains cellular app was the tenth most downloaded journey and navigation app globally.
For FY21, the agency reported a complete revenue of ₹138.41 crores versus ₹112.96 crores a 12 months in the past. Internet revenue for the interval stood at ₹7.53 crore towards a lack of ₹26.61 crores final 12 months. Internet debt for the fiscal 12 months was at ₹99.62 crores versus ₹19.97 crore final 12 months.