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Travel firm Ixigo gets Sebi nod for Rs 1,600 crore IPO

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The IPO comprises fresh issuance of shares worth Rs 750 crore and an offer of sale of equity shares to the tune of Rs 850 crore by existing shareholders.

Travel firm Ixigo gets Sebi nod for Rs 1,600 crore IPO
Le Travenues Technology, which operates travel platform Ixigo, on Monday has received capital markets regulator Sebi's approval to raise Rs 1,600 crore through an initial share-sale.
The IPO comprises fresh issuance of shares worth Rs 750 crore and an offer of sale of equity shares to the tune of Rs 850 crore by existing shareholders.
As a part of the OFS, Saif Partners India IV will offload shares worth Rs 550 crore, Micromax Informatics will sell shares for Rs 200 crore, and Aloke Bajpai and Rajnish Kumar will divest stakes worth Rs 50 crore each.
Proceeds of the fresh issue will be used to fund the company's organic and inorganic growth initiatives and for general corporate purposes. Bajpai currently holds a 9.18 percent stake in Ixigo, Kumar 8.79 percent, SAIF Partners 23.97 percent and Micromax 7.61 percent.
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Launched in 2007 by Aloke Bajpai and Rajnish Kumar, Ixigo is focused on empowering travellers to plan, book and manage their travels by leveraging AI and data science-led innovations. The Gurugram-headquartered company has a user base of over 250 million.
ICICI Securities, Axis Capital, Kotak Mahindra Capital, Nomura Financial Advisory and Securities are the lead managers to the issue.
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