Le Travenues Technologies, the operator of the travel website Ixigo, achieved a solid stock market debut on Monday.
The shares started at Rs 138.1 on the National Stock Exchange (NSE), up 48.5% from their issue price of Rs 93.
On the Bombay Stock Exchange, the stock was listed for Rs 135, indicating a 45.16% premium. Ixigo’s shares were trading at a premium of Rs 30 in the unlisted market prior to listing.
High demand for the IPO—nearly 98.34 times oversubscribed—came from both institutional and non-institutional investors’ keen interest.
The money acquired from the IPO will be utilized for several things, such as general corporate purposes, investments in technology, working capital requirements, and funding growth through acquisitions.
Ixigo is a tech company that empowers Indian tourists by assisting with trip planning, booking and management for the bus, train, air and hotel sectors.
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