New Delhi :
Le Travenues Technology Ltd, the company behind the travel booking platform ixigo, has received approval from the Securities and Exchange Board of India (Sebi) for its Initial Public Offering (IPO).
The IPO will consist of a fresh issue of equity shares amounting to Rs 120 crore,
along with an offer for sale (OFS) of 6.66 crore equity shares by existing shareholders.
Offer for Sale (OFS) Details
Several existing shareholders, including SAIF Partners India IV Limited, Peak XV Partners Investments V (formerly known as SCI Investments V),
Micromax Informatics Limited, and others, will sell shares through the OFS.
Le Travenues Technology Ltd: Utilization of Proceeds
The proceeds from the fresh issue will primarily be utilized for meeting the company’s working capital requirements and investing in technology and data science initiatives.
Specifically, Rs 45 crore will go towards working capital, while Rs 26 crore will be invested in technology, including areas like cloud and server hosting, artificial intelligence, and customer engagement.
About Le Travenues Technology Ltd
Established in 2007 by Aloke Bajpai and Rajnish Kumar, Le Travenues Technology assists travelers in planning, booking, and managing trips across various modes of transport and accommodations.
The company witnessed significant growth in its total income, reaching Rs 517 crore in the financial year ended March 2023, compared to Rs 385 crore in the previous year.
Moreover, it reported a profit of Rs 23.4 crore for the year ended March 2023,
a notable improvement from a loss of Rs 21 crore in the previous financial year.
Bansal Wire Industries IPO
Fresh Issue Details
Bansal Wire Industries, a steel wire manufacturer, is set to launch its IPO. Unlike Le Travenues Technology, Bansal Wire Industries’ IPO consists entirely of a fresh issue of equity shares worth Rs 745 crore, without any offer for sale (OFS) component.
Utilization of Funds
The funds raised through the IPO will be allocated towards various purposes, including the repayment of loans, supporting working capital requirements, and general corporate purposes.
About Bansal Wire Industries
Bansal Wire Industries operates in three main segments: High Carbon Steel Wire, Mild Steel Wire (Low Carbon Steel Wire), and Stainless Steel Wire.
The company is primarily engaged in manufacturing and exporting steel wires, catering to diverse industrial needs.
