Friday, August 19, 2022

Ixigo intends to raise INR 1,600 Cr via IPO

About the Ixigo startup:

A technology company focused on empowering Indian travelers with artificial intelligence, machine learning, and data science-driven innovations. Ixigo empowers them to plan, book, and manage their travels. Founded in 2007 and headquartered in Gurugram, Haryana, the company has a user base of over 250 million travelers. The company founded in 2007 in Gurugram, Haryana. Its global user base includes over 250 million travelers. With the OTA platform, travelers can book trains, flights and bus tickets, hotels and cabs, and access travel utility tools and services. These are developed using proprietary algorithms and crowd-sourced information, including train PNR status and confirmation predictions. Along with train running status updates, flight, and bus status updates, price, and availability alerts deal discovery, destination content, personalized recommendations, instant fare alerts, and automated customer support.

Past Updates:

In August 2011, Ixigo received an $18.5 Million investment from SAIF Partners and MakeMyTrip. It was a landmark deal for online travel in India. Micromax Informatics invested an undisclosed amount in Ixigo in June 2015. Ixigo closed a $15 million Series B round in March 2017 led by Sequoia Capital India and Fosun RZ Capital.

Recent Updates:

SEBI has received Ixigo’s draft red herring prospectus (DRHP) for its initial public offering to raise INR 1,600 Cr. The IPO will consist of a primary component that will include a new share issue worth INR 750 Cr. The secondary component will allow existing investors to offload their shares worth INR 850 Cr.

Early investors like Elevation Capital (formerly known as SAIF Partners) and Indian smartphone manufacturer Micromax are expected to benefit from the IPO. Ixigo has joined several tech companies in India going public this year. Including Zomato, Paytm, Nykaa, Mobikwik, CarTrade, and Fino Payments Bank. Zomato raised a staggering INR 8,250 Cr earlier this year and CarTrade’s IPO subscription closed on Wednesday (August 11), but the rest of the IPO-bound companies have yet to file their DRHPs.

Also, Read| IGNOU PROJECT SUBMISSION DATE EXTENDED TILL AUGUST 31

Dhruv Vashisth
Dhruv Vashisth , is recently persuing his graduation in journalism and mass communication from Management Education and Research Institute affiliated to Guru Gobind Singh Indraprastha University . Dhruv is a Versatile content writer with a incandescence for readings and his area of engrossment in writing falls mostly on the topics of business, sports and entertainment. He is someone who is always excited in Researching new news stories and ideas and is good at managing Multiple priorities cheerfully. Find me on instagram:- _mr.vashisth Mail I'd:- [email protected]

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