Appetite for raising money from the primary markets is only growing as two more companies filed preliminary papers with the Securities and Exchange Board of India (SEBI). Le Travenues Technology Ltd, which operates travel platform Ixigo and VLCC Health Care Ltd have recently filed their Draft Red Herring Prospectus (DRHP) for the Initial Public Offering (IPO) the market regulator, a PTI report said Get more Markets News and Business News on Zee Business.
Last month, as part of its pre-IPO round, the company raised $53 million (Rs 395 crore) from investors led by Singapore sovereign wealth fund GIC with participation from investors such as Info Edge Ventures, White Oak, Bay Capital, Orios Venture Partners, Trifecta Capital and Malabar Investments.
Le Travenues Technology – the parent company of online travel aggregator ixigo – plans to utilise 40% of net proceeds from IPO for organic and inorganic growth
Ixigo's IPO will consist of a fresh issue of Rs 750 crore and an offer for sale of Rs 850 crore by existing investors, including Micromax and Elevation Capital