Travel portal Ixigo moves a step closer to IPO
- Ixigo’s parent Le Travenues is expected to file its preliminary papers for IPO by mid August.
- The company recently appointed six independent board members.
- It recently raised $53 million in a pre-IPO round from Singapore-based GIC.
The company — whose last reported valuation was $104 million, as per Tracxn — is expected to file its draft red herring prospectus (DRHP) with the market regulator
The conversion from a private limited company to a public limited company is the first step towards an IPO. A public limited structure allows companies to raise capital from the stock market. Indian laws do not allow a private company to invite the public to subscribe to its shares.
The development comes a day after the 14-year old online travel agency (
Banking and insurance sector veteran Shubha Rao Mayya, Hopper founder Frederic Lalonde, and Hamstede Living MD and chief executive officer (CEO) Rahul Pandit will also be joining the board as independent directors, ixigo’s CEO and cofounder Aloke Bajpai announced on
Ixigo raised $53 million in a pre-IPO round from Singapore-based GIC. White Oak, InfoEdge Ventures, Bay Capital, Orios Venture Partners,
Nykaa will spend its IPO money on setting up retail stores and repaying loans
From cookies king Britannia to soaps titan HUL, inflation is eating profits away — so, you may have to pay even more for daily essentials
Three-year-old Skill-Lync gets $17.5 million funding from Flipkart founder Binny Bansal and others
Popular on BI
- Future of Work 2021: Work from home is here now, but people demand some physical sense at work
- Deadline for PAN-Aadhaar linkage extended till March 2022
- Here is what the Indian film industry can learn from gig economy firms like Zomato and Urban Company
- Cat lover? Here’s a chance to do your favourite thing for research — watch cat videos
- India should let tele migration bloom before worrying about how to tax writers, creators and consultants, says India’s Chief Economic Advisor K V Subramanian