Private Equity

Liquidity Events

Travel tech co. ixigo’s Rs.740-Cr IPO subscribed 98x; VC investors make part exits

Economic Times  

The initial public offering (IPO) of Le Travenues Technology, which operates the travel booking platform ixigo, was subscribed over 98 times. The INR 740 crore IPO comprises a fresh issue of 1.29 crore equity shares aggregating to INR 120 crore and an offer for sale (OFS) component of 6.67 crore shares aggregating to about INR 620 crore. VC investors including Elevation Capital, Micromax and Peak XV Partners - apart from founders Aloke Bajpai and Rajnish Kumar - offloaded part of their stakes through the OFS.Prior to the IPO, Ixigo had raised around INR 333 crore from anchor investors. The company completed a pre-IPO secondary placement worth approximately INR 176.2 crore a day before the anchor book opening. During this secondary sale, Elevation Capital, Peak XV Partners, Micromax Informatics and Madison India sold 1.89 crore shares at INR 93 each, which is the upper end of the IPO price band.