Travel booking platform Ixigo, or Le Travenues Technology Ltd as it’s officially called, had a fantastic first day on the stock market! The company’s shares opened much higher than the price they were initially sold for, showing strong investor interest.
On the National Stock Exchange (NSE), Ixigo shares began trading at ₹138.10 each. This is a significant 48.5% increase compared to the price at which the company offered its shares to investors, which was ₹93 per share. The story was similar on the Bombay Stock Exchange (BSE), where Ixigo shares started trading at ₹135, a jump of over 45% from the issue price.
This strong opening reflects the positive response Ixigo received during its initial public offering (IPO) earlier this month. The IPO process allows companies to raise money by selling shares to the public. In Ixigo’s case, the offering was subscribed nearly 98 times over, meaning investors placed orders to buy many times more shares than were available. This high demand is a sign that investors believe in Ixigo’s future potential.
A successful IPO debut like this is good news for Ixigo. It allows the company to raise capital to invest in growth and expansion. Additionally, a strong share price can boost Ixigo’s reputation and make it easier to attract new partnerships and talent.
Looking Ahead
While today’s opening is a positive sign, it’s important to remember that stock prices can fluctuate over time. Ixigo’s future success will depend on its ability to continue growing its business and delivering value to its customers. However, based on the strong investor interest shown during the IPO and today’s opening, Ixigo seems to be well-positioned for continued success in the online travel market.