The initial public offering (IPO) of Ixigo opened for public issue on Monday, aiming to raise Rs 740.10 crore. The IPO, which has a price range of Rs 88 to Rs 93 per share, will remain open for bidding until June 12, 2024.
The Ixigo IPO, a book-built issue, includes a fresh issue of 1.29 crore shares worth Rs 120 crore and an offer for sale of 6.67 crore shares totaling Rs 620.10 crore. The company has already raised Rs 333 crore from anchor investors such as Nomura, Morgan Stanley, HDFC Mutual Fund, and the Government of Singapore.
For retail investors, the minimum investment required is Rs 14,973 for 161 shares. Qualified institutional buyers (QIBs) and small non-institutional investors (sNIIs) must invest at least Rs 209,622 for 2,254 shares (14 lots). Large non-institutional investors (bNIIs) need to invest Rs 1,003,191 for 10,787 shares (67 lots).
The IPO is managed by Axis Capital, DAM Capital Advisors, and JM Financial, with Link Intime India as the registrar. The allotment process is expected to be finalized by June 13, 2024, with shares anticipated to list on the BSE and NSE on June 18, 2024.
The Grey Market Premium (GMP) for the Ixigo IPO stands at Rs 23, suggesting a projected listing price of Rs 116 and an expected gain of approximately 24.73% per share. A report from brokerage firm Anand Rathi indicates that Ixigo’s valuation is favorable compared to peers, driven by industry tailwinds and business scalability.
