Le Travenues Technology, the parent company of Ixigo, is scheduled to finalize the basis of allotment of its shares on Thursday, June 13. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate either on Friday, June 14 or over the weekend. The online travel agency saw a robust response from the investors during the bidding.
The IPO of Le Travenues Technology was open for bidding June 10 and June 12. The Gurugram-based company had offered its shares in the fixed price band of Rs 88-93 per share with a lot size of 161 shares. The company raised a little more than Rs 740.10 crore via its primary offering, which included a fresh share sale of Rs 120 crore and an offer-for-sale (OFS) of up to 6,66,77,674 equity shares.
The issue was overall subscribed a stellar 98.34 times. The quota for qualified institutional bidders (QIBs) was booked a whopping 106.73 times The quota for non-institutional investors was subscribed 110.53 times. The portions reserved for retail investors saw bidding for 54.85 times during the three-day bidding process.
Grey market premium (GMP) of Ixigo IPO has surged sharply following a bumper bidding for the issue. Last heard, the company was commanding a premium of Rs 35-36 per share, suggesting a listing pop of around 39 per cent for the investors. However, it was around Rs 23-25 apiece, when the issue kicked-off for bidding.
Founded in 2006, Le Travenues Technology is an online travel agency (OTA) that enables travelers to book train, flight, and bus tickets as well as hotels under the brand name 'Ixigo'. The company has the highest app usage among OTAs with a cumulative 83 million monthly active users across its apps.
Brokerage firms are mostly positive on the issue suggesting investors to subscribe to it on the back of industry tailwinds, brand recall and business scalability, resulting in expansion of profitability. However, some analysts are skeptical over rich valuations and dependence on a broad range of travel suppliers.
JM Financial, DAM Capital Advisors (formerly IDFC Securities) and Axis Capital are the book running lead managers of the Ixigo IPO, while Link Intime India is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE with Tuesday, June 18 as the tentative date of listing.
Investors, who had bid for the issue of Le Travenues Technology (Ixigo), can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Le Travenues Technology Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit submit
Investors can also check the allotment status on the online portal of Link Intime India (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.
1) Go to the web portal of Link Intime Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.