Ixigo With IPO Size Of ₹740.10 Crore Opens For Subscription As Markets Blooms In Green

The Indian markets have been experiencing a period of resurgence over the past few days after the cataclysmic turn of events on June 4. The markets have been trading in green, racing to lifetime highs.

In the midst of these developments, its is IPO season again. And, one of the most intriguing names to open for subscription is travel and booking company Ixigo. Ixigo will open up for subscription today (June 10) and will close the proceedings on June 12.

IPO Time For Ixigo

Ixigo or Le Travenues Technology has a lot size of 161. The IPO size is pegged at Rs 740.10 crore. The IPO price range is between Rs 88 and Rs 93.

The minimum investment rate is Rs 14,973. The stock will be listed on both the NSE and the BSE. The basis of allotment will be on June 13. Refunds would be given on June 14.

The shares will be credited to the demat account of holder on the same day, June 14. Eventually, the company will officially be listed next Tuesday, June 18.

The Gurgram-based company has made some impressive strides in the highly competitive market. The service claims to have 83 million active users.

56% Train Booking

In addition, the company claims to have carved a niche for itself by laying emphasis on the Indian markets with potential that are outside of the big metros. The company has explored tier 1 and tier 2 cities.

This, therefore, has affected the pattern of consumption of its services. According to reports, a staggering 56 per cent of the company's services are used in booking trains. Meanwhile, the remainder of the services is used for flight booking, accounting for 22 per cent of its services, followed by bus-booking at 20 per cent.

This market for booking is dominated by established players like EasyMyTrip, MakeMyTrip and Yatra.

The markets are trading in green on Monday, June 10. Halfway through the day's trade, Nifty gained 0.27 per cent, reaching 23,353.85. Sensex also made gains, increasing by 0.11 per cent, reaching 76,780.20.