Indian Ixigo 200m 850Meconomictimes – Indian Mobile Phone Company Ixigo IPO

The Indian Ixigo 200m 850Meconomictimes mobile phone market is booming. One of the largest companies in the sector is Ixigo. This company has a user base of 850 million people and it is preparing for its initial public offering. However, the company is facing many challenges. Among them are the slowdown in the economy and the competition from Apple and Android phones.

Online Travel Aggregator in India

Indian Ixigo 200m 850Meconomictimes has received approval from the Securities and Exchange Board of India (SEBI) for its initial public offering. The online travel aggregator is planning to raise Rs 1,600 crore in the IPO.

It has appointed ICICI Securities as its investment banker. Kotak Mahindra Capital and Nomura are the book managers for the issue.

In an earlier move, the company has also acquired bus ticketing platform AbhiBus. This will help the firm consolidate its presence in the Tier 2/3/4 markets.

Indian Ixigo 200m 850Meconomictimes has an estimated market value of $850 million. Its revenues have grown 184% in the financial year ended March 2022. The firm has a user base of over 250 million, which is the second largest in the internet industry in India.

The company is currently in wait and watch mode for its IPO debut. However, it has been in talks with institutional investors for pre-IPO participation.

User Base of Around 250 Million Users

Ixigo has a user base of around 250 million users. Their best selling app, MobiKwik, offers a mobile payment platform that allows users to make purchases through their smartphones. The company also makes available credit cards and life insurance to a number of customers. While they aren’t the biggest name in the biz, the ecommerce firm has made a number of impressive acquisitions. Its most recent acquisition was Hyderabad-based AbhiBus.

Ixigo is looking to raise around 850 crores through an offer for sale. They will use the funds to boost their scalability, and to expand their services in India and in other Asian markets. The company has a clear strategy for achieving that goal, albeit one that is not well understood. Earlier this year, they bought Bengaluru-based Confirmtkt and Hyderabad-based AbhiBus.

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Ixigo is an online travel platform that applies data science to its OTA (online travel agency) platforms. This helps passengers book hotels, flights and cabs. In addition, Ixigo provides consumers with customized travel recommendations. Travelers can also avail of real-time flight and train status updates, availability and price alerts and train confirmation predictions. The company has a 12-percent market share of the online flight ticketing and bus ticketing market in India. Its online travel portals have over 250 million app downloads.

Ixigo’s IPO will be offered through an OFS. Initially, it is planned to raise Rs.1,600 crore through the issue of equity shares. These will be priced at a range of Rs.680 to 720. If the offer goes through, it will list on the NSE and BSE. A total of seventy-five percent of the equity shares will be reserved for qualified investors (QIBs). However, the quota for HNI investors is limited to fifteen per cent.

Fresh Equity Shares Worth 750 Crores

The primary offering comprises of fresh equity shares worth 750 crores, with a face value of Rs.1. Other shareholders selling their shares include Micromax Informatics, Saif Partners India IV, Elevation Capital, Orios Venture Partners, White Oak Capital, GIC, SAIF Partners, and AbhiBus.

The grey market premium is currently %. For more details on Ixigo’s IPO, check out this article. You will get to know how it compares to its rivals like MamaEarth and boAt.

With a net income of _ in the first quarter of the fiscal year, the online travel company has shown an improvement from its financial performance of the last three years. On the other hand, the loss incurred by the company in the same period was around 3.4 crore. During the same period, the company had booked other income of ten crore rupees, mainly due to write-back of liability.

In the last fiscal year, the company’s revenue from operations grew by 184%. Its profit after tax amounted to a whopping Rs.8 crore, compared to a loss of _ crore the previous year. At the same time, its loss in the March 2022 fiscal year was also reduced by a considerable amount.

Its Public Market Debut

While Indian Ixigo 200m 850Meconomictimes is still in watch and wait mode for its public market debut, the company recently announced some financial numbers ahead of the planned IPO. The revenue generated from operations in the first quarter of the fiscal year doubled, while operating income went up by almost eightfold. Ixigo’s train-based apps, which account for more than four-fifths of rail bookings for the IRCTC, contributed to a quarter-on-quarter profit increase of 2%.

As of December 31, 2018, the company had received regulatory approval to go public. It also got a nod from the Securities and Exchange Board of India in December last year. Currently, the company has a tentative listing date of February 20, 2022.

Last Words:

According to the official filing, the offering will comprise afresh issue of equity shares worth 750 crores and will be offered through a public offer. Its offer will be open for subscription from January to February. Interested buyers can make applications for Ixigo IPO through various channels, including Angel One and Zerodha. Applicants need to login to their Zerodha account, which will be used to submit their application. Users can also choose a UPI option for submitting their applications. Once they have selected their UPI option, they will need to link their UPI IDs to their bank accounts and trading platforms.


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