Ixigo IPO set for strong market debut on June 18
Le Travenues Technology Ltd, popularly known as Ixigo, is gearing up for its initial public offering (IPO) on June 18. The IPO is already showing promising signs, with stocks trading at a premium of ₹29 in the gray market premium (GMP). This indicates that the equity shares are trading ₹29 higher than their issue price of ₹93 per share. The online travel agency's IPO opened on June 10 and ended on June 12 with a robust subscription rate.
Ixigo IPO oversubscribed across all categories
The allotment of Ixigo's IPO was finalized on June 13, and investors are now eagerly waiting for the public offer to make its debut in the stock market. The IPO bagged an overall subscription rate of 98.10 times, with the retail category oversubscribed by 53.95 times. The Qualified Institutional Bidders (QIB) category saw an oversubscription of 106.73 times, while the Non-Institutional Investors (NII) category was oversubscribed by 110.25 times.
Ixigo IPO might be listed at ₹122 per share
Based on the current GMP and the issue price, the tipped listing price for Ixigo's IPO is ₹122 per share, reflecting a 31.18% premium over the issue price. The firm offered its IPO at a price band of ₹88 to ₹93 per stock, with a lot size of 161 shares. At the upper end of this range, Ixigo raised ₹740.10 crore via the IPO which includes ₹120 crore from a fresh issue of 1.29 crore equity shares.
