Ixigo IPO debut: upper circuit hit, key numbers 2024

A strong listing in a weak broader market

Le Travenues Technologies Ltd, which operates the online travel booking platform ixigo, made a strong stock market debut on Tuesday, June 18, even as the broader market was described as weak. The listing followed heavy demand during the initial public offering (IPO), which closed on June 12. On debut day, ixigo’s share price quickly drew attention as it moved higher from the opening trade and hit exchange limits during the session. The move placed the issue among the more closely tracked IPO listings of the year.

IPO demand: oversubscribed 98 times

The ixigo IPO was oversubscribed 98 times on its last day, according to the details provided. The offering was a book-building issue on BSE and NSE, with a price band of ₹88 to ₹93 per share. The issue price was fixed at ₹93 per equity share. The IPO size was ₹740 crore, split between a fresh issue worth ₹120 crore and an offer for sale (OFS) of 66.68 million shares aggregating to ₹620 crore.

Listing prices on NSE and BSE

On the NSE, the shares debuted at ₹138.10 against the issue price of ₹93, a gain of ₹45.10 or 48.5%. On the BSE, the stock opened at ₹135 per share, a premium of 45.16% to the issue price. Multiple market reports cited the debut premium as over 48% based on the NSE opening price. The early prints set the tone for an active first trading session.

Upper circuit at 11.41 am

The stock hit the upper circuit of ₹161.99 at 11.41 am on the day of listing. Separately, another reported intraday reference noted ixigo shares surging as much as 52% to hit a high of ₹141.48 on the NSE and ₹141 on the BSE, reflecting the strong price action after the opening trade. Some IPO-tracking summaries also cite ₹161.99 as a “listing price” reference, but the reported exchange opening trades were ₹138.10 (NSE) and ₹135 (BSE). Readers should treat these as different data points cited across sources in the provided material.

Where the stock ended the day

One report stated the stock hit the 20% upper trading limit over the opening price and ended at ₹165.72. That close translated to a 78.2% gain over the issue price of ₹93, and it was described as the third-best listing day performance for IPOs that year. Another snippet also referenced that the shares “surged 78 per cent during their trading debut,” framing the move as well above the Street’s pre-listing expectations.

Grey market premium and expectations before listing

Ahead of the debut, the grey market premium (GMP) was cited at ₹30.50 per share in the unofficial market. This implied a potential listing around ₹123.5 per share, or about 32.8% above the issue price. The actual NSE opening at ₹138.10 came in higher than that implied level. The contrast highlighted how demand on listing day exceeded the informal pre-market signal mentioned in the article data.

Market capitalisation after listing

Post listing, the market capitalisation of Le Travenues Technologies was reported to have risen to ₹5,398 crore. This figure was cited in the context of the first-day surge after the shares began trading. Market cap on listing day is a function of the traded price and shares outstanding, and the number provides a snapshot of how the market valued the company after the initial price discovery.

Key figures from the provided snapshot

The provided data also included later-period reference points, including valuation ratios and a 52-week range.

Trading levels into August 2025

As of August 14, 2025, the stock was stated to be trading at ₹268.58, compared with the previous day’s close of ₹257.93. The same dataset notes that the stock moved from ₹161.99 to ₹268.58, reflecting a change of 65.80% based on that reference point. It also provided an estimated CAGR of approximately 148.64% using the IPO issue date of June 18, 2024 and the stated current market price. These are reported calculations from the supplied material and should be read as period-specific snapshots rather than forecasts.

Why the listing mattered for IPO watchers

The ixigo listing stood out for the combination of strong subscription (98x), a large first-day move, and a quick hit to price limits. The divergence between unofficial GMP-based expectations and the actual opening price was also a key takeaway, based on the figures provided. For investors tracking IPO outcomes, the debut offered a clean data point on how demand translated into opening premiums, intraday limits, and end-of-day performance.

What to watch next

The company’s subsequent trading levels, 52-week range, and P/E metrics indicate that the stock continued to remain in focus well beyond listing day. The next concrete updates investors typically monitor after such IPO debuts include quarterly earnings, business metrics, and any official company filings, but no such details were provided in the supplied article data. For now, the confirmed timeline remains the June 12 IPO close, June 18 listing, and the later price snapshot as of August 14, 2025.