Operators of the Ixigo travel platform, Le Travenues Technology Ltd, have filed a draft red herring prospectus with the Securities Exchange Board of India (SEBI) and hope to raise 1,600 crore through an initial public offering (IPO ). The IPO was issued with a new issue of 750 crore and an offer to sell of 850 crore by its existing investors. The Offer of Sale (OFS) has sales of 50 crore by Aloke Bajpai, 50 crore by Rajnish Kumar, 550 crore by Saif Partners India IV and ₹ 200 crore by Micromax Informatics. At present, Aloke Bajpai owns 9.18% of the capital of the company, Rajnish Kumar 8.79%, SAIF Partners 23.97% and Micromax 7.61% of the capital of the company. The main managers of the issue are ICICI Securities, Axis Capital, Kotak Mahindra Capital, Nomura Financial Advisory and Securities.

The amount raised from the IPO will be invested in organic and inorganic growth initiatives. Organic growth activities are the costs incurred by discounts and other promotional incentives to attract new users to OTA platforms as well as other forms of sales, marketing and distribution expenses. The investments made in the development of their technological infrastructure are also an element of organic growth. Inorganic growth activities are simple acquisitions and other strategic actions to increase the size of the company.

What is Ixigo?

Ixigo was started by Aloke Bajpai and Rajnish Kumar in 2007 as they wanted to improve the planning structure for Indian vacationers. They took care of train, plane, bus and hotel reservations and helped manage the trip. Ixigo has helped travelers make better decisions by using artificial intelligence, machine learning, and data science to build OTA platforms like their website and app. Its app allows travelers to book train tickets, plane tickets, bus tickets, hotels and taxis. It provides developed travel tools and utilities that use complex algorithms and open information to help users with PNR status and confirmation forecast, tell user if seats are available on a train, live train status including updates and delay forecasts. It also helps in predicting the flight status, the status of the bus with its prices and the availability of seats.

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