Mumbai: Le Travenues Technology’s much-anticipated IPO for ixigo made a robust market debut today, with shares opening significantly higher than the issue price across major exchanges. ixigo shares debuted on the National Stock Exchange (NSE) at Rs 138.10 per share, marking a 48.5 percent increase from the IPO price of Rs 93. On the Bombay Stock Exchange (BSE), the stock opened at Rs 135 apiece, reflecting a 45.16 percent surge from the issue price.
Investor enthusiasm for Le Travenues Technology’s IPO was evident throughout the subscription period, closing at an impressive 98.34 times oversubscription by the final day. The IPO, which opened on June 10 and closed on June 12, raised Rs 740 crore, offering shares priced between Rs 88 and Rs 93 per share.
Founded in 2007 by Aloke Bajpai and Rajnish Kumar, Le Travenues Technology has cemented its position as a leading online travel aggregator in India, facilitating travel bookings via rail, plane, bus, and hotel accommodations.
Market experts view the strong market debut of ixigo shares as a significant opportunity for investors to tap into India’s burgeoning online travel agency (OTA) sector, particularly targeting the "next billion users”. The book running lead managers (BRLMs) for the IPO were Axis Capital, DAM Capital Advisors, and JM Financial, securing Rs 333 crore from key investors during the offering.
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