Ixigo to launch IPO to raise Rs 1,500Cr to Rs 1,800Cr
Travel portal Ixigo has confirmed that it is set to launch its IPO soon. While the amount is not disclosed, discussions were on that with the company has appointed ICICI Securities, Kotak Mahindra Bank, Nomura, and Axis Capital Ltd as its investment bankers.
The platform has already onboarded marquee investors, Micromax Informatics, Elevation Capital, and Sequoia Capital, to name a few.
For the upcoming IPO, Ixigo has appointed Ravi Shanker Gupta as its new CFO. Ravi Shanker has helped several brands transition smoothly to publicly owned companies including Jubilant FoodWorks Limited, the parent company of Dominos Pizza.
Moreover, Ixigo has also appointed Suresh Kumar Bhutani as the company’s secretary. He has worked on the legal matters of IndiGo Airlines and Ciena India among others.
Ixigo is focused on the next billion users and is the leading player in the train utility and ticketing category and a challenger in the flights and buses categories. Ixigo has expanded organically over the last decade through a constant focus on product, technology, innovation, and creative video marketing.
Ixigo has over 5 Million downloads per month, which is higher than all other OTAs in the country combined and hence is the fastest-growing travel platform with 230 Mn downloads to date. It has 37 Mn unique monthly users across all its apps and website. At present, the company is at an annualized gross booking value run rate of over Rs. 5000 crores.
Although the travel industry has been severely impacted by the pandemic, companies like Ixigo are looking to issue IPO so that they can generate sufficient funds for future expansion.
Travel may not be the same as we know it, and the IPO will enable better adaptability in post covid times. Keeping expansion in mind, Ixigo had earlier bought Comfirmtkt, an online train-travel platform.
Ixigo has come a long way since its inception and under the guidance of such brilliant minds would continue to be the market leader. My best wishes to the team of Ixigo.Shishir Gupta, Founder and CEO, StartupLanes
If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.
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