Ixigo IPO Opens for Subscription on June 10, 2024
Key Details:
- Subscription Dates : June 10-12, 2024
- Price Band : Rs 88 to Rs 93 per share
- Lot Size : Minimum 161 shares
- Investment : Retail - Rs 14,973; sNII - Rs 209,622; bNII - Rs 1,003,191
- Listing Date : Expected on June 18, 2024
Financial Performance:
- FY23 Revenue : Rs 517 crores, up 34.6% from FY22
- FY23 PAT : Rs 23.40 crores, compared to a loss of Rs 21.09 crores in FY22
Allotment:
- QIB : 75%
- Retail : 10%
- NII : 15%
Market Sentiment:
- GMP : Rs 23, indicating a potential listing gain of 24.73% per share
Brokerages' View:
- Anand Rathi : Recommends "SUBSCRIBE – long term," highlighting Ixigo's strong market position and potential for profitability.
- BP Equities : Endorses subscription based on significant revenue and profit growth.
- Canara Bank Securities : Advises subscribing due to market leadership and industry shift to online bookings.
Ixigo, founded in 2006 under Le Travenues Technology Limited, aims to continue its growth in the online travel agency sector, leveraging its strong customer focus and expanding service offerings.
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