Listing gains: ixigo parent Le Travenues Technology jumps 48% amid stock market debut on BSE, NSE

Le Travenues Technology Ltd, the parent of ixigo,  made a solid stock market debut on BSE, as the scrip got listed at Rs 138.10 on NSE over its issue price of Rs 93. On BSE, the scrip debuted at Rs 135, up 45.16 per cent. With this, the company commanded a market capitalisation of Rs 5,350.31 crore. Le Travenues Technology is a technology company that focuses on planning, booking and managing trips across rail, air, buses and hotels.

The Gurugram-based company assists travellers in making travel decisions by leveraging artificial intelligence, machine learning, and data science-led innovations on its OTA platforms like ixigo, comprising its websites and mobile applications.

Shivani Nyati, Head of Wealth at Swastika Investmart said Le Travenues is thriving in India's rapidly growing online travel market. Its established brand presence (ixigo, AbhiBus), AI-powered operations, and diversified business model position it for continued growth, Nyati said.

Additionally, the company has demonstrated a strong post-pandemic recovery with impressive revenue and profit gains, she said. "However, investors should be mindful of certain risks. High customer acquisition costs, fierce competition within the industry, and dependence on a variety of travel suppliers pose potential challenges," she added.

The ixigo issue was overall subscribed a stellar 98.34 times. The quota for qualified institutional bidders (QIBs) received 106.73 times bids while that of non-institutional investors was subscribed 110.53 times. The portions reserved for retail investors was booked 54.85 times. The IPO ran from June 10 and June 12.

The company sold its shares in the price band of Rs 88-93 per share with a lot size of 161 shares. It raised 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.