The shares jumped 20% and were locked in the upper circuit at INR 161.99 on the BSE. Similarly, the stock jumped 20% to 165.72 on the NSE
Earlier today, ixigo made a stellar debut on the Indian bourses, listing at a 45.16% premium to the issue price on the BSE and a 48.5% premium on the NSE
Shares of ixigo ended the first day of the trading on the BSE 74.2% higher than the issue price, and the company’s market cap stood at INR 6,275.87 Cr ($752.2 Mn)
Shares of online travel aggregator (OTA) Ixigo
touched the upper circuit on the exchanges on the day of its listing on Tuesday (June 18).
The shares jumped 20% and were locked in the upper circuit at INR 161.99 on the BSE. Similarly, the stock jumped 20% to 165.72 on the NSE.
Earlier today, ixigo made a stellar debut on the Indian bourses, listing at a 45.16% premium to the issue price on the BSE and a 48.5% premium on the NSE.
The stock was listed at INR 135 and INR 138.1 apiece on the BSE and the NSE, respectively.
ixigo’s shares had an issue price of INR 93 apiece. The stock ended the first day of the trading on the BSE 74.2% higher than the issue price.
The company currently has a market cap of INR 6,275.87 Cr ($752.2 Mn).
ixigo’s IPO comprised a fresh issue of shares worth INR 120 Cr and an offer for sale (OFS) component of 6.67 Cr shares worth INR 620 Cr.
The subscription for the startup’s public issue opened last week on June 10 and ended on June 12. Its IPO was oversubscribed 98.34X.
Its major early investors Peak XV and SAIF Partners raked in massive gains from the IPO. As per Inc42’s calculations, the returns made by Peak XV and SAIF Partners on the shares they sold via the OFS and pre-IPO deals stood at about 8.2X and 13X, respectively.
Founded in 2007 by Aloke Bajpai and Rajnish Kumar, ixigo initially started as a travel search website, helping users compare flight deals. In FY20, it pivoted to become an OTA, earning revenue from selling various travel services like flights, trains, bus tickets, hotel bookings, and holiday packages.
It is pertinent to note that this was ixigo’s second attempt at IPO. Earlier, it deferred its public listing plans after filing the DRHP in 2021 for an INR 1,600 Cr public offering.
ixigo posted a consolidated net profit of INR 65.7 Cr in the first nine months of FY24, up 3X from INR 23.4 Cr in the entire FY23. Operating revenue stood at INR 491 Cr in the first nine months of the previous fiscal as against INR 501.2 Cr in FY23.
