The DRHP for the Rs 1,600 crore raise was filed Thursday evening. ET has reviewed a copy of it.
While Le Travenues Technology Ltd, the company that operates the online ticketing platform will see existing investors Micromax and Elevation Capital (formerly Saif Partners) exit partially through an OFS, its other older investor MakeMyTrip
has already exited the company through a secondary sale clocking, 8x returns on its $4.8 million investment, ET reported earlier this week.
The promoters, Aloke Bajpai and Rajnish Kumar are also looking to sell their stakes through the IPO, the draft prospectus shows.
Last month, as part of its pre-IPO round, the company
raised $53 million (Rs 395 crore) from investors led by Singapore sovereign wealth fund GIC with participation from investors such as Info Edge Ventures, White Oak, Bay Capital, Orios Venture Partners, Trifecta Capital and Malabar Investments.
According to sources, the company is currently being valued at around $850 million and is likely to launch its IPO later this year.
Launched in 2007, ixigo has a user base of more than 250 million. Earlier this year, it
acquired Bengaluru-based online train discovery and booking platform Confirmtkt for an undisclosed amount. Last week, the company said it has
acquired AbhiBus, a Hyderabad-based bus ticketing and aggregation platform on a slump sale basis.
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Ixigo adds six new independent board members ahead of IPO
The travel segment has been severely hit in the last 18 months due to the Covid-19 pandemic. However, travel and hospitality companies have seen a revival with markets like US and Europe opening up as more than 50% of their population has been vaccinated. In India, too airlines and hospitality companies have clocked better occupancy rates post the devastating second wave of the Covid-19 virus.
Investment banks ICICI Securities, Axis Capital, Kotak Mahindra Capital and Nomura are the book managers of the issue while law firms such as Shardul Amarchand Mangaldas and Khaitan & Co are advising the company on legal matters.
