Ixigo - Le Travenues Technology IPO Details, Financials, Valuation & Peers

Le Travenues Technology Limited, operating under the brand name ixigo, is a leading technology company dedicated to enhancing the travel experience for Indian travelers. Established with the vision of becoming the most customer-centric travel company, ixigo provides comprehensive travel planning, booking, and management services across rail, air, bus, and hotel segments. The company's platforms leverage proprietary algorithms and crowd-sourced information to offer innovative travel utility tools and services. Focused on the 'next billion user' market, ixigo is recognized for its localized content and features tailored to Tier II and Tier III cities, making it the fastest-growing OTA in India. The company effectively cross-sells flight bookings to users of its ixigo trains app, ConfirmTkt, and AbhiBus, bolstered by strategic acquisitions of ConfirmTkt and AbhiBus in 2021.

Key Points:

• Diverse Travel Services: ixigo offers an extensive range of travel services including train, flight, bus, and hotel bookings, along with advanced travel utility tools like PNR status, seat availability alerts, and real-time travel updates.
• Service Offerings: Over the lifecycle of our users, we effectively cross-sell and up-sell various tickets and value-added services such as ixigo Assured, ixigo Assured Flex, Abhi Assured, seat selection, in-flight meals, visa processing, travel insurance, and car rental services, enhancing the overall travel experience and customer satisfaction.
• Market Leadership: The company is the largest Indian train ticket distributor in the OTA rail market, with a 51% market share as of March 31, 2023, and significant presence in the bus and flight booking segments.
• Technological Innovation: ixigo utilizes in-house proprietary algorithms and AI-driven solutions to provide personalized recommendations, automated customer support, and enhanced user experience.
• Rapid Growth: With a revenue CAGR of 92.29% from Fiscal 2021 to 2023, ixigo is the fastest-growing OTA in India. The company reported revenues of ₹4,910.21 million in the nine months ended December 31, 2023.
• Extensive User Base: ixigo boasts 83 million monthly active users across its apps and had 49.07 million transactions in Fiscal 2023. The platform's high engagement is reflected in its 23 monthly average sessions per user.
• Focus on 'Next Billion Users': The company caters to non-Tier I cities, addressing the needs of new internet users from middle and lower-income groups, which comprise over 60-65% of the overall travel market.
• Innovative Offerings: ixigo continuously introduces new services such as ixigo Assured, automated web check-ins, travel insurance, and car rentals, enhancing customer satisfaction and loyalty.