Le Travenues Technology, which operates online travel platform Ixigo, is once again seeking a public listing after a shelved attempt in mid-2021.
The Gurgaon, India-based business is looking to raise approximately $14 million with the fresh issue of shares and has filed a Draft Red Herring Prospectus (DRHP) with the Security Exchange Board of India.
In addition, Ixigo is making an offer for sale of 67 million equity shares.
The company, which was launched in 2007 by co-founders Aloke Bajpai and Rajnish Kumar, said it plans to use the proceeds to fund working capital, invest in cloud infrastructure and technology and make further, as yet unidentified, acquisitions.
In 2021, Ixigo was seeking to raise $215 million, which included $80 million in a fresh issue and the remainder consisting of an offer for sale.
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Ixigo reported full-year 2023 revenue of $60 million, up from $46 million in 2022. For the first nine months of fiscal year 2024, the company reported revenue of $59 million.
Profit for the nine months ending December 31 was approximately $8 million.
Ixigo acquired Confirmtkt and Abhibus in 2021 and also raised $53 million. Last year the company invested approximately $3 million in a seed round for electric bus startup FreshBus.
