IPO • Aug. 16, 2022

Invest in Ixigo with Planify

Ixigo (Le Travenues Technology Pvt. Ltd.) is a technology company, founded by Rajnish Kumar and Alok Kumar Bajpai in June 2007 with the launch of their meta flights search website.


Ixigo focuses on empowering Indian Travelers to plan, book & manage their trips across rail, air, buses and hotels. They assist travelers in making smart travel decisions by leveraging artificial intelligence, machine learning and data science-led innovations on their OTA platform, comprising their website and mobile applications. They aggregate and compare real-time travel information, prices and availability for flights, trains, buses and hotels and allow booking tickets through its associate websites and apps.


In 2008, it introduced a hotel search engine on its site. In 2014, it launched train apps.


Ixigo IPO Details:


The equity shares offered through Draft Red Herring Prospectus (DRHP) are proposed to be listed on the Stock exchange. Ixigo filed draft papers for IPO in August 2021. The company has received approvals from BSE and NSE for listing. The company proposes to make an IPO which comprises an issue of fresh Equity shares of Re.1 each and an Offer for Sale by certain shareholders existing equity shares of Re 1 each at such premium arrived at by the issue, as may be decided by the Board of Directors.

The Ixigo IPO date is expected to be announced soon in 2022. The Price Band for Ixigo IPO range is currently not available. As far as the face value of the shares is of concern, it is Re.1 per share.


Ixigo's Total IPO size is 1600 Cr. out of which 750 Cr. is of Fresh Issue of Equity & 850 Cr. is of Offer for Sale (OFS).


You can also invest in Ixigo Pre IPO by visiting our Planify website. Ixigo Share is priced at Rs. 110.

Business Model:


Revenue Segmentation:



Assets as on 31st March 2022:

Tangible Assets:

Assets

Amount in Crores (Rs.)

Computers

1.48

Office Equipment

0.11

Furniture

0.02


Intangible Assets:

Assets

Amount in Crores (Rs.)

Goodwill

254.13

Software

21.93

Trademark

0.09

Non-Complete

8.25


Online Travel Agency (OTA) is a web-based marketplace that allows consumers to research and book travel products and services, including hotels, flights, cars etc. The Indian OTA industry increased from gross booking revenue of Rs. 284 Billion in 2015 to Rs. 978 Billion in 2020, registering a CAGR of 28%.


Although Covid slumped the growth in fiscal 2021 on account of the slow revival of international passenger traffic. However, the OTA industry is expected to bounce back due to pent up demand and acceleration, especially in the Bus & Rail segment reaching Rs. 1782 Billion by 2024 with a CAGR of 16% in the forecast period.


Growth Drivers:

  1. For Users to conveniently utilize apps and book tickets online, telecommunication firms are extending 4G services in Rural areas with greater connectivity and speed.

  2. Online payments have become convenient as a result of the exponential rise of UPI and other digital payment methods.

  3. Due to increased discounts from the OTAs themselves as well as deals via partnerships with other banking and payment methods, OTA can offer competitive pricing.


Financial Status of Ixigo-


The Company’s overall revenue increased by Rs. 247 Cr. over the course of the year or around 178% y-o-y in F.Y 22. The company’s ticketing revenue increased by 186% y-o-y which was primarily the result of an increase in transactions on their OTA platform as well as the consolidation of Confirm Ticket and the Acquisition of Abhibus. The assets of the company have increased 190% year on year in F.Y 22. The goodwill of the company has shown a significant increase which was around 211% y-o-y in F.Y 22 due to the acquisition of Abhibus.



Ixigo's D/E ratio has improved over the year as the debt of the company has decreased and the total equity of the company has increased over the year in F.Y 22 which positively impacted the D/E ratio.  The Current ratio of the company has increased 54% y-o-y in F.Y 22. Company is raising funds for expansion.

Peer Comparison-


Ixigo has the second largest market capitalization, standing at 4067 Cr. behind Easy Trip Planner which is valued at 8770 Cr. Thomas Cook India stands third with a market cap of 3283 cr. Ixigo also has an impressive P/B ratio, standing second behind Easy Trip. Ixigo has a P/B ratio of 21.72.



For any further information on Ixigo’s Peer Comparison, you can visit the link below on Ixigo Financial Report compiled by our team at Planify. Complete Report on Ixigo Unlisted Shares.

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