Amidst the speculation comes the confirmed update that online travel portal Ixigo is set to launch its IPO soon. While the amount remains undisclosed, the talks were on that with the company having appointed ICICI Securities, Kotak Mahindra Bank, Nomura, and Axis Capital Ltd as its investment bankers. The platform already has marquee investors on board, namely, Micromax Informatics, Elevation Capital, and Sequoia Capital, to name a few.
Keeping in mind the upcoming IPO, Ixigo has appointed Ravi Shanker Gupta as its new CFO. Ravi Shanker has aided several brands transition seamlessly to publicly owned companies including Jubilant FoodWorks Limited, the parent company of Dominos Pizza. In addition, Ixigo also appointed Suresh Kumar Bhutani to serve as the company’s secretary. He has worked on the legal affairs of IndiGo Airlines and Ciena India among others.
Though the travel industry has taken a hit due to the pandemic, companies like Ixigo working seek to issue IPO so that they can generate enough funds for future expansion. Travel may not be the same as we know it, and this round of IPO will help better adaptability in post covid times. Keeping expansion in mind, Ixigo had earlier bought Comfirmtkt, an online train-travel platform.