Le Travenues Technology Ltd (IXIGO): IPO Overview
Company Profile Le Travenues Technology Ltd. (LTTL), commonly known as "IXIGO," is a leading technology company dedicated to empowering Indian travelers to plan, book, and manage their trips across rail, air, bus, and hotel segments. With a vision to become the most customer-centric travel organization, LTTL aims to provide the best customer experience through its innovative and cost-efficient solutions, targeting the 'next billion users' market segment.
LTTL's OTA platforms offer a comprehensive range of services, including train, flight, bus, and hotel bookings. The platforms also feature travel utility tools developed using proprietary algorithms and crowd-sourced information, such as train PNR status and confirmation predictions, seat availability alerts, running status updates, and delay predictions. Market Leadership
Rail Market: LTTL is the largest Indian train ticket distributor in the OTA rail market, holding a market share of approximately 51% as of March 31, 2023. The market share increased from 46.4% in the first half of Fiscal 2023 to 52.4% in the first half of Fiscal 2024.
Bus Market: Through its bus-focused app, AbhiBus, LTTL secured the position of the second largest bus-ticketing OTA in India, with a market share of 11.5% in Fiscal 2023, which rose to 12.5% in the first half of Fiscal 2024.
Airline Market: LTTL's market share in India's OTA airline market grew from 3.3% in Fiscal 2023 to 5.2% in the first half of Fiscal 2024.
Revenue Growth: LTTL is recognized as the fastest-growing OTA in India in terms of revenue from operations between Fiscal 2020 and Fiscal 2023.
Objectives of the Issue
The net proceeds from the IPO will be allocated towards the following objectives:
Partial funding of the company's working capital requirements.
Investment in cloud infrastructure and technology enhancements.
Support for inorganic growth through acquisitions and other strategic initiatives, in addition to general corporate purposes.
Key IPO Details
IPO Dates: 10 to 12 June 2024
Price Band: ₹88 to ₹93 per share
Lot Size: 161 shares
Total Issue Size: ₹740.10 crores
Retail Quota: 10%
GMP: 35% (for informational purposes only)
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