Ixigo IPO Opens: The much-anticipated Initial Public Offering (IPO) of Le Travenues Technology, the parent company of Ixigo, is now open for subscription. The travel booking platform’s IPO has generated significant buzz in the market, and investors are eager to know more about its Grey Market Premium (GMP), subscription status, and whether it is worth subscribing to.
Ixigo IPO Price Band and Lot Size
The price band for the IPO has been set between ₹88 and ₹93 per share. Investors looking to get a piece of this offering need to know that the IPO lot size is 161 shares, translating to a minimum investment amount of ₹14,973 for retail investors. This accessible entry point makes it an attractive proposition for a wide range of investors.
Ixigo IPO Details
Le Travenues Technology’s IPO aims to raise funds primarily for organic and inorganic growth initiatives. The IPO comprises a fresh issue of shares and an offer for sale by existing shareholders. Here are the key details:
- Price Band: ₹88 to ₹93 per share
- Lot Size: 161 shares
- Minimum Investment: ₹14,973
- Issue Size: A combination of fresh issue and offer for sale
Ixigo IPO GMP Today
The IPO grey market premium (GMP) today stands at ₹23 per share, according to stock market observers. This suggests that Ixigo’s equity shares are trading at ₹116 apiece in the grey market, representing a 24.73% premium over the issue price of ₹93 per share.
Ixigo IPO Subscription Status
The Ixigo IPO was fully subscribed within hours of opening on June 10. As of 1:50 PM, the public issue has been subscribed 1.03 times, receiving bids for 4.52 crore equity shares against the 4.37 crore shares on offer, according to NSE data.
In the retail category, the IPO has been subscribed to 3.76 times, while the Non-Institutional Investors (NII) category has seen a subscription rate of 1.06 times. The portion reserved for qualified institutional buyers (QIBs) has been booked at 11% so far.
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Should You Subscribe to the Ixigo IPO?
The decision to subscribe to the IPO depends on various factors, including the company’s financial health, market potential, and growth prospects. Here are a few points to consider:
- Market Position: Ixigo is a well-established player in the travel booking space, offering a range of services from flight and hotel bookings to train reservations.
- Growth Potential: The funds raised from the IPO are intended to fuel further growth, both organically and through acquisitions, positioning Ixigo for future expansion.
- Financial Performance: Analyze the company’s financial statements to assess profitability, revenue growth, and overall financial stability.
- GMP Indicator: A positive GMP suggests strong market sentiment and potential listing gains.
- Risk Factors: Consider the risks associated with the travel industry, including regulatory changes, competition, and market volatility.