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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Working capital requirements
Part-funding the company's working capital needs to support continued growth in transaction volumes.
Investment in cloud infrastructure and technology
Funding cloud infrastructure and technology development to support the company's platforms.
Inorganic growth and general corporate purposes
Funding potential acquisitions and strategic initiatives, with the balance for general corporate purposes.
(₹ in Crore)
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Le Travenues Technology Limited, incorporated in 2006, operates India's ixigo group of online travel platforms, helping travellers plan, book and manage trips across rail, air and bus travel as well as hotels. Its apps include ixigo Trains (built on the ConfirmTkt platform), the ixigo flights app, and the AbhiBus bus-ticketing platform, together reaching tens of millions of monthly active users. The company has also introduced AI-driven travel planning tools under the ixigo brand to help users discover and organize trips. The company holds a leading position in India's online train ticketing market, commanding roughly half of all rail bookings made through online travel agencies as of the years leading up to its listing, while AbhiBus and the flights business hold meaningful positions in the bus and air ticketing segments respectively. It is among the largest online travel agencies in India by revenue, competing with players spanning air, rail, bus and hotel booking. The company's revenue and profitability improved substantially in the years before its public listing, aided by growing transaction volumes across its platforms and an asset-light, technology-driven model. Shares of the company listed on the NSE and BSE on 18 June 2024 following a book-built initial public offering combining a fresh issue with an offer for sale by existing shareholders.
Promoter Name is not available
Ahead of the offer, the company raised approximately Rs 333 crore from anchor investors at the cap price of Rs 93 per share. Notable anchor participants included the Government of Singapore, Morgan Stanley, WhiteOak Capital, Bay Capital India, Tata Investment Corporation, Bajaj Allianz Life Insurance Company, SBI Mutual Fund and HDFC Mutual Fund.
Source: RHP • Analysis provided for informational purposes
Last Updated: 14 July 2026, 5:30 AM
Leading position in online rail ticketing
The company is the largest online travel agency for train tickets in India, commanding roughly half of all rail bookings made through OTAs in the years before its listing.
High engagement across a multi-app portfolio
Its ixigo Trains, ixigo Flights and AbhiBus apps together reach tens of millions of monthly active users, giving it one of the highest engagement levels among Indian OTAs.
Diversified travel offering
Beyond rail, the company holds a meaningful share of the online bus-ticketing market through AbhiBus and a smaller but growing presence in flight bookings, reducing reliance on any single travel mode.
Improving profitability
Revenue and profitability strengthened significantly in the years leading up to the IPO as the company scaled its transaction volumes on an asset-light technology platform.
Reliance on the IRCTC relationship
A large part of the rail ticketing business depends on its relationship with and access to IRCTC's booking infrastructure; any adverse change could affect operations.
Dependence on travel supplier commissions
Reduction or elimination of commissions and incentives paid by airlines, railways, bus operators or hotels could adversely affect revenue and margins.
Intense competition in a low-switching-cost industry
The Indian online travel market is highly competitive with several well-funded players, and travellers can switch platforms easily, pressuring pricing and customer acquisition costs.
Le Travenues Technology (IXIGO) Limited
Second Floor, Veritas Building, Sector 53, Golf Course Road, Gurugram, Haryana 122002, India
View on Maps →MUFG Intime India Private Limited
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Exposure to travel industry cyclicality
Demand for the company's platforms is tied to overall travel activity, which can be affected by macroeconomic conditions, fuel costs, or disruptive events.