Ixigo makes stellar stock market debut

Le Travenues Technology, the parent company of ixigo, made an impressive stock market debut on Tuesday, with its shares opening at Rs 138.10 on the National Stock Exchange (NSE), marking a 48% premium over its issue price of Rs 93 per share.

By 1:03 pm, the stock had surged further to Rs 165.72.On the Bombay Stock Exchange (BSE), the company's shares listed at Rs 135, a 45% premium, and reached an intra-day high of Rs 161.99 by the same time.

Trading volumes were robust, with a total of 51.89 million equity shares traded on both exchanges.

Le Travenues Technology operates ixigo, an online travel agency (OTA) facilitating bookings for trains, flights, buses, and hotels.

The company's Initial Public Offering (IPO) received overwhelming investor interest, with subscription rates reaching 98.10 times.

The retail category was subscribed 53.95 times, while qualified institutional buyers (QIBs) and non-institutional investors (NIIs) subscribed 106.73 times and 110.25 times, respectively.

The strong debut and subscription figures underscore the market's confidence in Le Travenues Technology, reflecting high investor appetite for its OTA platform amid a recovering travel sector.