Ixigo is a travel booking platform under Le Travenues Technology that has offered $40 million worth of  shares to anchor investors for Initial Public Offerings. The company planned to make its first  appearance on the stock market exchange on 10th June with a minimum of Rs 88 and a top-end price of Rs 93 for each with a minimum bid of 161 shares. 

The board at Ixigo has approved a resolution to allot 3,58,11,405 equity shares at an issue price of Rs 93 each to raise $40 million. The shares will be given to Achor Investors. These fresh proceeds will be  used to scale up operations, enhance its platform, and meet market needs. The series E round had the  participation of investors including Trifecta, Eight Road Ventures, Chirate, and Amara partners, and was  led by the Rise Fund with $16 million. The investment was made after the firm announced its pre-IPO  secondary exercise of $21 million. 

The pre-IPO secondary exercise made SAIF partners the biggest stakeholder of the company with a  20.52% stake followed by 13.81% of Peak XV and Micromax with 5.52 percent. The co-founders of Ixigo hold a 16.65% stake in the startup. HDFC, Nomura Fund, SBI, Morgan Stanley, Tata Investments, and  Bajaj Allianz are the key anchor investors in this IPO round. The regulatory filing shows that out of  3,58,11,405 equity shares that are allocated for anchor investors, 1,20,87,583 equity shares were given to four domestic mutual funds through 7 schemes.  

The startup focuses on becoming the most customer-centric OTA startup in the country by helping Indian travelers with better plans for their travel. The company is expected to open its Initial Public  Offering with a minimum of 161 lots for its retail investors. The startup reported growth in operating  revenue of Rs 491 crore this fiscal year with a sizable profit of Rs 65.7 crore. 

Conclusion: 

This Gurugram-based startup, Ixigo is a subsidiary of Le Travenues Technology. Ixigo provides traveling ease to its users by booking hotels, notifying flight delays, and providing flexible bookings. This travel  booking platform has offered $40 million worth of shares to anchor investors for Initial Public Offerings after closing its pre-IPO secondary exercise at $ 21 million. The series E round had the participation of investors including Eight Road Ventures, Trifecta, Chirate, and Amara partners, and was led by the Rise  

Fund with $16 million. The investment was made after the firm announced its pre-IPO secondary  exercise of $21 million. The regulatory filing shows that out of 3,58,11,405 equity shares that are  allocated for anchor investors, 1,20,87,583 equity shares were given to four domestic mutual funds  through 7 schemes. The company planned to make its first appearance on the stock market exchange  on 10th June with a minimum of Rs 88 and a top-end price of Rs 93 for each with a minimum bid of  161 shares. This funding amount will be used to scale up operations, enhance its platform, and meet  market needs.