About Company

• Le Travenues Technology Limited (“Ixigo”) was incorporated on June 3, 2006. Ixigo is a technology company focused on empowering Indian travellers to plan, book and manage their trips across rail, air, buses and hotels. Ixigo is the leading Online Travel Agency (“OTA”) for the ‘next billion users’, with their focus on localized content and app features that aim at solving problems of Tier II/ Tier III travellers. They 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.

• Company’s focus on travel utility and customer experience for travellers in the ‘next billion user’ market segment is driven by technology, cost-efficiency and their culture of innovation. They are also the leading OTA for the ‘next billion users’, and in September 2023, Ixigo flights, Ixigo trains, ConfirmTkt and AbhiBus have collectively seen the highest usage and engagement among all key OTA players and standalone transactional train mobile apps in India in terms of Monthly Active Users and sessions.

• Their OTA platforms allow travellers to book train tickets, flight tickets, bus tickets and hotels, while providing travel utility tools and services developed using in-house proprietary algorithms and crowd-sourced information. In 2022, ixigo trains app was the 8th most downloaded travel and navigation app globally as per data.ai.

• Ixigo is the largest Indian train ticket distributor in the OTA rail market and they had the largest market share of around 51%, in terms of rail bookings, among OTAs, as of March 31, 2023.

• Their bus focused app, AbhiBus, was the 2nd largest bus-ticketing OTA in India, with a 11.5% market share in online bus ticket bookings in Fiscal 2023 which increased further to 12.5% in the 1st half of Fiscal 2024.

• Company’s revenue from operations have grown at a CAGR of 92.29% between Fiscal 2021 and Fiscal 2023, and the revenue from operations were ? 135.57 crore, ? 379.58 crore, and ? 501.25 crore in Fiscals 2021, 2022 and 2023, respectively.

• Over the lifecycle of their users, Ixigo has been able to cross-sell and up-sell tickets and Value-Added Services or services ancillary to their booking offerings and include services such as ixigo Assured, ixigo Assured Flex, Abhi Assured, seat selection, in-flight meals, visa processing, travel insurance and car rental services to their user base in addition to providing free information and utility services.

Strengths

Competitive Strength 

• Leading online travel agency ("OTA"), with significant penetration in the underserved ‘next billion user’ market segment;

• Artificial intelligence ("AI") and technology driven operations;
• Established consumer travel brands built with user-first approach;
• Diversified business model with significant operating leverage and organic flywheel;
• Experienced management team with lean organization structure.

 Business Strategies 

• Continue to deepen penetration and enhance the offerings for the ‘next billion user’ market segment;

• Increase monetization through cross-selling and up-selling;
• Improve operating leverage through investment in deep tech and artificial intelligence;
• Drive value creation through selective strategic partnerships and acquisitions.

Company Promoters

Company Financials

Le Travenues Technology Limited's revenue increased by 34.46% and profit after tax (PAT) rose by 210.91% between the financial year ending with March 31, 2023 and March 31, 2022.

Objects of the Issue

The company proposes to utilize the Net Proceeds towards funding the following objects:

1. Part-funding working capital requirements of the company;
2. Investments in cloud infrastructure and technology; and
3. Funding inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes.