June 13, 2024
New Delhi, India
IPO Watch
Le Travenues Technology Ltd, the parent company of Ixigo, has completed its initial public offering (IPO) with strong investor interest. Here’s how to check your application status, the latest grey market premium (GMP), and the expected listing date.
IPO Details and Allotment Status
Le Travenues Technology’s IPO was open for bidding from June 10 to June 12, offering shares in a fixed price band of ₹88-93 per share with a lot size of 161 shares. The IPO raised approximately ₹740.10 crore, including a fresh issue of ₹120 crore and an offer-for-sale (OFS) of up to 66,677,674 equity shares.
The IPO was heavily oversubscribed, with an overall subscription of 98.34 times:
- Qualified Institutional Bidders (QIBs): 106.73 times
- Non-Institutional Investors: 110.53 times
- Retail Investors: 54.85 times
The basis of allotment will be finalized on Thursday, June 13. Successful bidders will receive notifications about the debit of funds or revocation of their IPO mandate by Friday, June 14, or over the weekend.
Latest GMP
The grey market premium (GMP) for Ixigo’s IPO has surged to ₹35-36 per share, indicating a potential listing gain of around 39%. Initially, the GMP was ₹23-25 per share when the bidding started.
Listing Date
The shares of Le Travenues Technology Ltd are expected to list on both BSE and NSE on Tuesday, June 18, 2024.
How to Check Application Status
Investors who applied for the Ixigo IPO can check their allotment status on the Bombay Stock Exchange (BSE) website. Follow these steps:
- Visit BSE’s IPO application status page.
- Under the issue type, select “Equity.”
- In the issue name dropdown, select “Le Travenues Technology Limited.”
- Enter your application number.
- Provide your PAN card ID.
- Complete the captcha by clicking on “I am not a Robot” and then submit.
Alsi Read: Ola Electric Secures SEBI Nod for ₹5,500 Crore IPO
About Le Travenues Technology Ltd
Founded in 2006, Le Travenues Technology Ltd operates the online travel agency (OTA) Ixigo, which allows users to book train, flight, and bus tickets, as well as hotels. With over 83 million monthly active users, Ixigo boasts the highest app usage among Indian OTAs.
Market and Analyst Sentiment
Brokerage firms have generally been positive about the IPO, citing industry growth, brand strength, and business scalability as reasons to subscribe. However, some analysts caution against high valuations and dependence on a broad range of travel suppliers.
Lead Managers and Registrar
JM Financial, DAM Capital Advisors, and Axis Capital are the book running lead managers for the Ixigo IPO. Link Intime India is the registrar for the issue.
Stay tuned for more updates on the listing and performance of Ixigo shares in the coming days.
Disclaimer:
CurrencyVeda provides this news article for informational purposes only. We do not offer investment advice or recommendations. Before making any investment decisions, please conduct thorough research, consult with financial experts, and carefully consider your financial situation, risk tolerance, and investment goals. Investing in the stock market carries risks, and it’s essential to make informed choices based on your individual circumstances. CurrencyVeda is not liable for any actions taken based on the information provided in this article.
