Ixigo files DRHP for Rs 1,600 crore with Sebi

Ixigo plans to raise rupees 750 crore by issuing new stock rupees 850 crore via an OFS

Ixigo, the travel booking app is looking to raise rupees 750 crore through a primary fundraise and rupees 850 crore via an offer for sale (OFS) by existing investors as a its IPO , according to the company’s draft red herring prospectus (DRHP) filed with the capital markets regulator.
The DRHP for the rupees 1,600 crore raise was filed on Thursday evening. The online ticketing platform, Le Travenues Technology Ltd will see existing investors Micromax and Elevation Capital exit partially through an OFS.
MakeMyTrip has already exited the company through a secondary sale with 8x returns on its USD 4.8 million investment. In July, as part of its pre-IPO round, the company raised USD 53 million that is rupees 395 crore from investors.
The round was led by Singapore sovereign wealth fund GIC with participation from investors such as Info Edge Ventures, White Oak, Bay Capital, Trifecta Capital, Orios Venture Partners and Malabar Investments. As per anonymous sources, the company is currently being valued at nearly USD 850 million and is likely to launch its IPO later this year.
The travelling app has a user base of over 250 million and was launched in 2007. The company had acquired Confirmtkt, based in Bengaluru online train discovery and booking platform for an undisclosed amount earlier this year. The company said it has acquired AbhiBus earlier this month, which is based Hyderabad bus ticketing and accumulation platform on a slump sale basis.

India Scanner News Network

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