Le Travenues Technology, the parent company of popular online travel aggregator ixigo, marked a triumphant debut on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) today, with its shares opening significantly higher than the issue price.
On the BSE, ixigo’s shares opened at INR 135 per share and surged to a peak of INR 161.99 during intraday trading, representing a remarkable 74.18% increase from the IPO price of INR 93.
Similarly, on the NSE, the stock opened at INR 138.10 per share and reached a high of INR 165.72, reflecting an impressive 78.2% jump from the issue price.
The shares held their elevated price levels till the end of today’s trading session, closing at their intraday highs.
Founded in 2007 by Aloke Bajpai and Rajnish Kumar, ixigo began as a flight comparison platform and has since evolved into a comprehensive online travel aggregator offering a wide range of services including flight bookings, train reservations, bus tickets, hotel accommodations, and holiday packages.
Prior to the IPO, Le Travenues Technology secured INR 333 crore from 23 anchor investors, including notable entities such as SBI Magnum Children’s Benefit Fund and the Government of Singapore.
The initial public offering (IPO) garnered exceptional investor interest, oversubscribed by more than 98 times across institutional, retail, and non-institutional segments.
The successful public listing underscores ixigo’s resilience and financial robustness, with the company reporting a net profit of INR 65.7 crore for the first nine months of fiscal year 2024, bolstering its market position.
The strong market debut, with shares holding their high value throughout the day, highlights ixigo’s potential for sustained growth and expansion in the competitive online travel aggregation sector.
