Ixigo IPO Garners Significant Demand Across Investor Categories — India Report
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The IPO for online travel agency Ixigo saw demand for the shares it offered dramatically exceed the number of shares offered this week.
Investors applied for about 98 times the number of shares in Ixigo's initial public offering, according to the Indian stock exchange BSE on Wednesday. Demand was strong across all types of investors, including institutional ones and ordinary individuals.
On Friday, the company raised INR 3.33 billion ($40 million) from anchor investors, who are institutional investors invited to subscribe to shares ahead of the IPO opening to the general public.
With the share subscription now over, the allotment of shares is expected to be finalised by Wednesday. The IPO listing is tentatively scheduled for June 18.
The IPO's full capital infusion into the company will be $89 million, including anchor investors, retail investors, and others.
IPO Timing: It's been a bit of a rollercoaster ride for Ixigo, which initially filed for an IPO in 2021 and received the green light from regulators the same year.
“Most tech-listed names were trading below their IPO price in 2022,” Ixigo chairman, managing director and group CEO Aloke Bajpai told Skift in an exclusive first interview. "It was not the ideal environment for us to launch an IPO."
Fast forward to mid-February this year, and Ixigo decided to take another crack at the IPO, buoyed by two consecutive
