New IPO : ixigo will bring an IPO of Rs 1600 crore, Sequoia Capital-backed travel planner company files documents with SEBI

New IPO : ixigo will bring an IPO of Rs 1600 crore, Sequoia Capital-backed travel planner company files documents with SEBI

ixigo is a travel planning company, which works through machine learning and artificial intelligence.

Sequoia Capital-backed company ixigo is also going to enter the primary market. The company has filed the initial document i.e. DRHP with SEBI for its IPO of Rs 1600 crore. New shares worth Rs 750 crore will be issued through the IPO, while existing investors and promoters will sell shares worth Rs 850 crore under the Offer for Sale (OFS). Alok Bajpai and Rajnish Kumar will sell shares worth Rs 50 crore each, Saif Partners India IV Rs 550 crore and Micromax Informatics Rs 200 crore through the offer for sale. At present, Alok Bajpai holds 9.18 per cent stake in the company. Rajnish Kumar holds 8.97 percent stake, SAIF Partners holds 23.97 and Micromax has 7.61 percent stake.

First company to plan IPO in its segment

ICICI Securities, Axis Capital, Kotak Mahindra Capital, Nomura Financial Advisory and Securities will be the lead managers of its book running. In the business segment of ixigo, there is currently no company listed in the stock market. If this list happens, then it will be the first company in the segment to do so.

New IPO: IPO of another government company is coming, new shares will be issued to sell 25 percent stake

The fund will be used for the expansion of the company

The company will use the funds raised from the IPO for its expansion. Rs 540 crore will be used for this. The company may also make some acquisitions. Alok Bajpai started ixigo in 2007 to help travelers plan, book and manage their travels through artificial intelligence, machine learning and data-science innovation. This Gurugram-based company has a user base of 25 crores. It is expected to grow 7 to 9 percent in the financial year 2021-22.

ixigo, Sequoia Capital, Alok Bajpai, Alok Bajpai, IPO, IPO, SEBI, SEBI, Travel Planner, Travel Planner

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