The online travel agency ixigo’s IPO bidding will close on June 12. The company wants to raise a total of Rs 740.10 crore from investors by offering them a combination of fresh issues and an offer for sale. The company will raise Rs 120 crore by selling 12.9 million fresh shares. While Rs 620.10 crore, the larger part of the issue, will be pocketed by promoters and other selling shareholders after selling 66.7 million shares.
Grey Market Premium
ixigo’s shares were attracting a premium of almost 39% in the grey market. It is an unofficial market where shares change hands illegally before listing on the bourses. Market participants take note of GMP movement to keep an eye on the stock’s performance ahead of listing.
ixigo IPO details
The travel agency kept the IPO price band in a range of Rs 88 ot 93 per equity share. ixigo (Le Travenues Technology) opened its IPO on June 10.
Allotment and Listing
The allotment of shares is expected to be finalised by June 13. The listing is tentatively scheduled for June 18. The retail investors need to apply for a minimum of one lot containing 161 shares taking the minimum investment to Rs 14,973. Meanwhile, the lost size and minimum investment for QIBs and NIIs are different.
Axis Capital, Dam Capital Advisors (Formerly IDFC Securities), and JM Financial are the book-running lead managers of the ixigo IPO, while Link Intime India Private is the registrar.