The initial public offering (IPO) of Le Travenues Technology, which operates travel booking platform ixigo, was subscribed 1.95 times on the first day of subscription on Monday.
The ₹740-crore offer received bids for 8,51,54,349 shares against 4,37,69,494 shares on offer, NSE data showed.
The category for retail individual investors was subscribed 6.17 times, while the non-institutional investors segment received 2.78 times subscription. The portion for qualified institutional buyers was subscribed 12 per cent.
The IPO has a fresh issue of up to ₹120 crore and an offer for sale (OFS) of up to 6,66,77,674 equity shares.
Under the OFS, SAIF Partners India IV Ltd, Peak XV Partners Investments V (formerly known as SCI Investments V), Micromax Informatics Ltd, Placid Holdings, Catalyst Trusteeship Ltd, Madison India Capital HC, Aloke Bajpai and Rajnish Kumar will be selling shares.
Proceeds worth ₹45 crore from the fresh issue will be used to fund the company’s working capital requirements and ₹26 crore will be utilised for investments in technology as well as data science, including cloud and server hosting, technology on artificial intelligence and customer engagement.
Additionally, funds will be used to support inorganic growth through acquisitions, and for general corporate purposes. The price range for the offer is ₹88-93 per share.
Le Travenues Technology on Friday said it has mobilised ₹333 crore from anchor investors.
PTI
