Ixigo is a digital startup that uses advancements in data science, machine learning, and artificial intelligence to enable Indian travelers to plan, book, and manage their travels. Over 250 million people have used the Gurugram based website since it was founded in 2007 by Aloke Bajpai and Rajnish Kumar. In addition to offering travel utility tools and services created using in-house proprietary algorithms and crowd-sourced information, the OTA platform lets users book trains, flights, buses, hotels, and taxis. These include train PNR status and conformation predictions, train running status updates, flight status updates, pricing and availability alerts, etc.

The parent company of online travel aggregator ixigo, Le Travenues Technology Limited, has submitted a draft red herring prospectus (DRHP) for an initial public offering (IPO) to the Securities and Exchange Board of India (SEBI). The company intends to raise up to 66,677,674 equity shares through an offer for sale (OFS) and a fresh issue totaling Rs 120 crore. This is the business's second attempt at going public. The company attempted an initial public offering (IPO) in August 2021 with the goal of raising Rs 1,600 crore but Ixigo then cancelled the preparations for listing, citing adverse macroeconomic conditions. Nevertheless, according to the most recent filings, Peak XV Partners would sell 13,024,000 shares, while Elevation Capital (previously SAIF Partners) will sell up to 19,437,465 equity shares. Aloke Bajpai and Rajnish Kumar, the co-founders, will each sell 11,950,000 shares. Madison India Capital, Placid Holdings, and Micromax Informatics are among the OFS participants. JM Financial, DAM Capital, and Axis Capital are the issue's book-running lead managers. Ixigo stated in its papers that it will use Rs 45 crore of the funds from the IPO to meet its working capital needs. Tech, data science, AI, and customer interaction are the areas where an additional Rs 25.8 crore is allocated for investments. The remaining sum will be applied to general corporate objectives, strategic initiatives, and acquisitions. As per the DRHP, Elevation Capital owns a 23.4% share in the OTA firm followed by Peak XV Partners and Gamnat, which command 15.68% and 9.68% shares, respectively. Co-founders Rajnish Kumar and Aloke Bajpai collectively own a 16.67% stake. Further, Micromax (5.81%), Trifecta Leaders (3.07%), Bay Capital (3%), and Malabar Investments (2.57%) also command significant stakes in the firm. Ixigo has improved operating revenue and profitability, which coincides with its latest bid to go public. Ixigo reported operating revenue of Rs 491 crore and profit of Rs 65.7 crore for the nine months ending in Dec 2023 (Apr-Dec 2023). From Rs 379.6 crore in FY22 to Rs 501 crore in FY23, its operating revenue increased by 32%. In addition to its remarkable expansion, it became profitable in FY23, making Rs 23.4 crore in profit as opposed to Rs 21 crore in loss in FY22.