Ixigo (Le Travenues Technology Limited) is a technology company focused on empowering Indian travellers to plan, book and manage their trips across rail, air, buses and hotels.
The company assists travellers in making smarter travel decisions by leveraging artificial intelligence, machine learning and data science-led innovations on their OTA platforms, comprising their websites and mobile applications.
Ixigo is the leading travel ecosystem for the ‘next billion users’, with their focus on localized content and app features that aim at solving the problems of travellers.
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Their OTA platforms allow travellers to book train tickets, flight tickets, bus tickets, hotels and cabs, while providing travel utility tools and services developed using in-house proprietary algorithms and crowd-sourced information, including train PNR status and confirmation predictions, train seat availability alerts, train running status updates and delay predictions, flight status updates, bus running status, pricing and availability alerts, deal discovery, destination content, personalized recommendations, instant fare alerts for flights and automated customer support services.
Launched in 2007, the Gurugram-headquartered company has a user base of more than 250 million. Earlier this year, it acquired Bengaluru-based online train discovery and booking platform Confirmtkt for an undisclosed amount. The company acquired AbhiBus, a Hyderabad-based bus ticketing and aggregation platform on a slump sale basis.
It is the largest Indian OTA in the online train bookings segment and their train-centric mobile applications, ixigo trains and ConfirmTkt, were collectively the leading B2C distribution platforms for IRCTC with a 42% market share, in terms of rail bookings among the OTAs and B2C distributors of IRCTC in Fiscal 2021.
Their bus-focused app, AbhiBus, was the second-largest bus-ticketing OTA in India, with a 10% market share in online bus ticket bookings, in Fiscal 2021. They are also the third-largest flight OTA in India with a market share of 12% in online air bookings in Fiscal 2021. They were the second-largest OTA in India in terms of total GTV in Fiscal 2021.
In August, Le Travenues Technology converted into a public company and later in the month filed its draft red herring prospectus (DRHP).
ixigo is backed by Elevation Capital, Sequoia Capital India, Trifecta Capital, Fosun RZ Capital, and InfoEdge among others. In 2011, Elevation Capital and Nasdaq-listed MakeMyTrip invested $18.5 million in ixigo. Till date, it has raised $88 million in funding.
The online travel aggregator recorded a total income of Rs 138.4 crore for the financial year ending March 31, 2021 as against Rs 112.9 crore in FY20. It earned profit of Rs 7.5 crore in FY21 as against net loss of Rs 26.6 crore for FY 20.
Address – 2nd floor, Veritas Building, Behind Ibis Hotel, Sector 53, Golf Course Road,
Gurgaon / Gurugram Haryana , 122002
- Aloke Bajpai, Chairman, Managing Director, and Group CEO
- Rajnish Kumar, Non-Executive Director, and Group CPTO
- Ravi Chandra Adusumalli, Non-Executive Director
- Shailesh Lakhani, Non-Executive Director
- Arun Seth, Independent Director
- Frederic Lalonde, Independent Director
Le Travenues (ixigo) valuation
At current price of around Rs 100 per share, shares of Ixigo are available at market capitalisation of about Rs 2,200 crore.
Ixigo plans to raise Rs 750 crore by issuing new stock and Rs 850 crore via an offer for sale by existing investors, according to its draft IPO papers filed with the capital markets regulator. Its DRHP was approved by SEBI on December 16th, 2021
Since Zomato’s bumper market debut in July, several tech-backed startups have gone public including Nykaa, Paytm, Policybazaar, Fino Payments Bank and RateGain.
ixigo’s competitor EaseMyTrip listed on the domestic stock exchanges in March 2021 with a premium after its IPO was subscribed nearly 160 times.