In the competitive world of software companies, where quick expansion often takes precedence over profitability, IXIGO stands out as a unique find that is ready to create a stir with its impending initial public offering. We are met with a story full of inventiveness, strategic vision, and impressive financial health as we investigate IXIGO’s path from founding to IPO.
Resubmitting its DRHP to SEBI on February 14, 2024, IXIGO, a prominent online travel aggregator in India, intends to raise capital via an initial public offering (IPO). The IPO consists of an offer for sale (OFS) of 6,66,77,674 equity shares by the current owners, which include Micromax, SAIF Partners, Peak XV Partners, and others, together with a new issuance of Rs. 120 crores. With a net profit of Rs. 65 crores in the third quarter of 2024, IXIGO is one of the few successful online travel tech startups in the Indian industry.
One of the few profitable Indian firms in the transport technology space is IXIGO. The business has produced outstanding financial achievements despite overcoming the challenges posed by the Covid-19 epidemic and the fierce competition in the OTA market.
Conclusion
With sales of Rs. 497 crores and a net profit of Rs. 65 crores in the first nine months of FY24, the company’s fiscal performance demonstrates its strong growth trajectory. This is a significant rise from FY23 when IXIGO’s revenue was Rs. 517 crores, and its net profit was Rs. 23 crores.
