About the Company:
Le Travenues Technology Ltd. (LTTL), commonly known as "IXIGO," stands out as a premier technology company focused on assisting Indian travelers in planning, booking, and managing their journeys across various segments including rail, air, bus, and hotels. LTTL’s mission is to be the most customer-focused travel company, offering innovative and affordable solutions aimed at the emerging market of the 'next billion users.'
IXIGO’s online travel agency (OTA) platforms provide an extensive suite of services such as train, flight, bus, and hotel bookings. Additionally, these platforms incorporate travel utility tools powered by proprietary algorithms and crowd-sourced data, delivering features like train PNR status updates, seat availability alerts, real-time running status, and delay predictions.
Market Leadership
Rail Market
LTTL leads the Indian OTA rail market with a significant market share of approximately 51% as of March 31, 2023. This represents an increase from 46.4% in the first half of Fiscal 2023 to 52.4% in the first half of Fiscal 2024.
Bus Market
Through its specialized app, AbhiBus, LTTL has emerged as the second largest bus-ticketing OTA in India. The company's market share in this segment rose from 11.5% in Fiscal 2023 to 12.5% in the first half of Fiscal 2024.
Airline Market
In the OTA airline market in India, LTTL's market share increased from 3.3% in Fiscal 2023 to 5.2% in the first half of Fiscal 2024.
Revenue Growth
LTTL has been recognized as the fastest-growing OTA in India in terms of revenue from operations between Fiscal 2020 and Fiscal 2023.
Objectives of the Issue
The funds raised from the IPO will be directed towards the following goals:
- Partial financing of the company's working capital needs.
- Investment in cloud infrastructure and technology upgrades.
- Support for growth through acquisitions and other strategic initiatives, along with general corporate purposes.
Summary of Financial Information:
| Period Ended | 31-Dec-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
|---|---|---|---|---|
| Assets | 678.71 | 585.93 | 538.47 | 185.07 |
| Revenue | 497.1 | 517.57 | 384.94 | 138.41 |
| Profit After Tax | 65.71 | 23.4 | -21.09 | 7.53 |
| Net Worth | 437.13 | 373.76 | 342.69 | 29.94 |
| Reserves and Surplus | 399.83 | 334.17 | 303.22 | -212.6 |
| Total Borrowing | 43.36 | 0.54 | 2.73 | 14.94 |
Comparison with the Listed Peers:
| Company Name | P/E | P/B | RoE (%) |
|---|---|---|---|
| Le Travenues Technology Ltd | 40 | 8 | 8 |
| Easy Trip Planners Ltd | 71 | 12 | 31 |
| Yatra Online Ltd | - | 3 | - |
Key details of the IPO:
- IPO Dates: 10 to 12 June 2024
- Price Band: Rs. 88 to Rs. 93 per share
- Lot Size: 161 shares
- Total Issue Size: Rs. 740.10 crores (Fresh Issue: Rs. 120 Cr.)
- Listing Date: 18 June, 2024
- Retail Quota: 10%
- GMP: Rs. 30 (Only for information purposes)
Note: For additional information & risk factors please refer to the Red Herring Prospectus
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Disclaimer: We are not SEBI registered. All the views are personal and only for educational purposes. Do your due diligence before making any trading or investing decisions. The data provided in this blog post is for illustrative purposes only and does not constitute financial advice. Always consult with a qualified financial advisor before making investment decisions.
