Ixigo IPO: Public Issue Subscribed 98x On Final Day; Share Allotment Today; GMP Hints Premium Listing

Today, June 13, marks a day for investors anticipating the outcome of the ixigo IPO subscription, with the allotment process set to finalize and shares soon to be allocated. The ixigo IPO, which saw overwhelming investor interest during its subscription period from June 10 to June 12, closed with a staggering subscription status of 98.34 times on the final day of bidding.

The investors who have applied for shares in the ixigo IPO can check their allotment status today on the portal of the IPO registrar, Link Intime India Private Ltd. This step is crucial for determining whether they have been allocated shares and the quantity thereof. For those fortunate enough to receive shares, they can expect them to be credited to their demat accounts by Friday, June 14.

For the applicants who are not allotted shares, the refund process will also commence on June 14, ensuring a return of funds to their accounts.

The ixigo IPO comprises a fresh issue of equity shares amounting to Rs 120 crore and an Offer For Sale (OFS) of 6.66 crore equity shares worth Rs 620 crore by existing shareholders, totalling a public offering of Rs 740 crore. The funds raised from the fresh issue will primarily be directed towards bolstering ixigo's working capital and expanding its technological infrastructure. Significant investments are earmarked for advancements in cloud computing, artificial intelligence, and enhancing customer engagement strategies. Additionally, a portion of the proceeds will be allocated for potential acquisitions and other business initiatives.

Market anticipation surrounding the ixigo IPO has been further fueled by the Grey Market Premium (GMP) of +36 as reported today. This indicates a strong demand for ixigo shares even before their official listing. Based on this premium, the expected listing price of ixigo shares is estimated at Rs 129 per share, representing a substantial 38.71% premium over the issue price of Rs 93 per share.

The concept of 'Grey Market Premium' reflects the enthusiasm and confidence of investors willing to pay a premium for shares above the IPO price, signalling positive sentiment towards ixigo.

Investors keen to track their ixigo IPO allotment status can follow these steps on the registrar's portal:

Visit Link Intime India Private Ltd's website dedicated to IPOs.
Select the ixigo IPO from the dropdown menu post allotment.
Enter relevant details such as Application No., Demat Account, or PAN.
Specify the application type (ASBA or non-ASBA) used during the application process.
Complete the captcha and submit to view the allotment status.

Moreover, alternative methods to check the ixigo IPO allotment status include visiting the BSE and NSE websites, where investors can similarly input their details to ascertain the outcome of their applications.

With the finalization of the allotment today, ixigo is poised to make its mark on the stock market, buoyed by robust investor interest and a strong subscription rate. The company's utilization of funds and technological investments reflect its focus on growth and innovation in the travel and technology sectors.

As the countdown begins towards the listing of ixigo shares, all eyes are on the stock market debut, expected to showcase the company's valuation and investor response. The successful execution of the IPO and the positive market dynamics surrounding ixigo reflect a promising trajectory for the company in the days ahead.

The Gurugram-based ixigo, a leading travel technology company, has positioned itself at the intersection of travel and technology, offering innovative solutions and services to travellers. The company's platform aggregates and compares real-time travel information, making it easier for users to plan their journeys efficiently. ixigo's robust business model and focus on user experience have garnered a loyal customer base, driving its growth and market presence.

The decision to launch an IPO comes at a crucial moment for ixigo, aligning with its strategic objectives of expansion and technological advancement. The IPO's proceeds will play a vital role in enhancing ixigo's capabilities across various facets of its operations. Specifically, Rs 45 crore from the fresh issue will be allocated towards meeting ixigo's working capital requirements, ensuring operational flexibility and sustainability.

Another Rs 26 crore will be earmarked for investments in technology and data science initiatives. This includes boosting ixigo's cloud infrastructure, and server hosting capabilities, and leveraging artificial intelligence to enhance service offerings.

Furthermore, ixigo plans to utilize a portion of the IPO proceeds for potential acquisitions, enabling strategic expansions and augmenting its market position. This strategic approach towards inorganic growth reflects ixigo's proactive stance in identifying synergistic opportunities to further consolidate its market presence and expand its service offerings.

Looking ahead, ixigo is poised to leverage its IPO proceeds strategically, driving sustained growth and expansion in the competitive travel technology landscape. The company's commitment to innovation, coupled with its strong market position and user-centric approach, positions it favourably for future success and value creation for its stakeholders.