Travel aggregator Ixigo’s mum or dad firm Le Travenues Technology has resubmitted its draft papers to the Securities and Exchange Board of India (SEBI) to launch its preliminary public providing (IPO). The journey firm is backed by SAIF Partners India IV, Peak XV and Micromax

The IPO includes a mix of recent issuance of shares valued at ₹120 crore and an offer-for-sale (OFS) of 6,66,77,674 fairness shares by present shareholders, in keeping with the draft purple herring prospectus (DRHP) submitted on February 14.

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Among the prevailing shareholders, SAIF Partners India IV and Peak XV Partners Investments V (beforehand often known as SCI Investments V) would be the major sellers within the OFS of the professionally managed firm, providing 1.94 crore and 1.3 crore fairness shares, respectively.

Aloke Bajpai and Rajnish Kumar are set to divest 1.19 crore fairness shares every by way of the Offer for Sale (OFS), whereas the remaining 1.03 crore shares shall be provided by Micromax Informatics, Placid Holdings, and Catalyst Trusteeship (previously often known as Milestone Trusteeship Services) because the trustee of Madison India Opportunities Trust Fund and Madison India Capital HC.

Previously, the Gurugram-based journey aggregator had submitted a draft purple herring prospectus to the regulatory physique in August 2021, with intentions to boost ₹1,600 crore by way of its inaugural public providing. This IPO encompassed a recent issuance of shares valued at ₹750 crore and an Offer For Sale (OFS) of ₹850 crore value of shares by present shareholders. Although the regulatory approval for the IPO launch was obtained in June 2023, the corporate opted to not proceed with the general public challenge at the moment.

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Considering different avenues for capital infusion, the corporate is trying elevating as much as ₹24 crore by way of a pre-IPO placement earlier than finalizing the purple herring prospectus with the Registrar of Companies.

Le Travenues Technology, the mum or dad firm of Ixigo, plans to allocate ₹45 crore of the web proceeds from the recent challenge in direction of fulfilling working capital necessities, whereas ₹25.8 crore shall be earmarked for investments in cloud infrastructure and know-how enhancements. The remaining portion of the recent challenge proceeds shall be utilized for potential inorganic development alternatives, together with unidentified acquisitions, in addition to for different strategic initiatives and normal company functions.

Axis Capital, DAM Capital Advisors, and JM Financial have been appointed because the service provider bankers for the difficulty.

The on-line journey company posted a consolidated internet revenue of ₹23.4 crore for the fiscal yr ending March FY23, marking a big turnaround from the ₹21.09 crore loss incurred within the previous yr. Meanwhile, income from operations surged to ₹501.25 crore from ₹379.6 crore recorded throughout the corresponding interval.