Ixigo IPO Day 2: Subscription At 3.67 Time, Retail Portion Booked Over 10 Times

Ixigo IPO opened for subscription on June 10 and will close on June 12. The IPO, a book-built issue of ₹740.10 crores, comprises a fresh issue of 1.29 crore shares and an offer for sale of 6.67 crore shares. The price band for the ixigo IPO is set at ₹88 to ₹93 per share.

Ixigo IPO Subscription Status

As of 11:36 am on the second day of bidding, Ixigo’s IPO has seen a total subscription of 3.67 times. The retail individual investors (RIIs) category has been oversubscribed by 10.65 times, while the non-institutional investors (NII) category has seen a subscription of 6.10 times. However, the Qualified Institutional Buyers (QIBs) category has been subscribed to only 14%.

The IPO allocation structure reserves 30% of the shares for QIBs, 15% for NIIs, 10% for RIIs, and 45% for anchor investors.


The Ixigo’s IPO GMP is currently reported at ₹28. With the IPO's price band set at ₹93, the expected listing price is ₹121, indicating a potential gain of approximately 30% on listing. However, it’s crucial to remember that while GMPs can offer some insight into market sentiment, they are not always a reliable predictor of a stock's performance upon listing.

See Also: ONGC Shares Climb As Analyst Sees 50% Upside, Labels Post-Election Correction As ‘Overdone’

Ixigo IPO Details

The net proceeds from ixigo's IPO will be used for prepayment or scheduled repayment of existing borrowings, financing working capital requirements, and addressing general corporate purposes. The company has also secured ₹333 crores from anchor investors ahead of its IPO launch. The anchor investors include notable domestic and foreign institutions like the Government of Singapore, Morgan Stanley, WhiteOak Capital, Bay Capital India Find, Tata Investment Corporation, Bajaj Allianz Life Insurance Company, SBI Mutual Fund, and HDFC Mutual Fund.

About Ixigo

Founded in 2006, ixigo is an online travel agency that enables travellers to book train, flight, and bus tickets as well as hotels. The company's services include PNR status and confirmation predictions, train seat availability alerts, train running status updates and delay predictions, alternative route or transportation planning, flight status updates, automated web check-in, bus running status, price and availability alerts, deal discovery, destination content, personalized recommendations, instant fare alerts for flights, AI-based travel planning service and automated customer support.

The shares of ixigo are tentatively scheduled to be listed on both the BSE and NSE, on Tuesday, June 18, 2024.

Read Next: Why Brokerage Sees Tata Motors Shares Going Up Another 13%

Engineered by Benzinga Neuro, Edited by Utkarsh Roshan

The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: NewsIPOsIxigo