Le Travenues Technology Limited, the parent company of travel booking platform Ixigo, has successfully raised Rs 333 crore (approximately $40 million) from anchor investors in anticipation of its upcoming initial public offering (IPO).

The company’s board has approved the allocation of 3,58,11,405 equity shares at Rs 93 each to anchor investors, according to a regulatory filing with the Bombay Stock Exchange. This fundraising follows a recent pre-IPO secondary placement that garnered Rs 176.2 crore ($21 million) at the upper price range.

Among the prominent anchor investors in Ixigo’s IPO are SBI, HDFC, Morgan Stanley, Nomura Fund, 3P India, Motilal Oswal, Malabar, Bajaj Allianz, and Tata Investments. Of the allocated shares, 1,20,87,583 were distributed to four domestic mutual funds across seven schemes, as stated in the filing.

Ixigo’s IPO is scheduled to run from June 10 to June 12, 2024, with a price band set between Rs 88-93 per share and a minimum bid quantity of 161 shares.

Before this anchor investment round, SAIF Partners held a 20.52% stake in Ixigo, while Peak XV and Micromax owned 13.81% and 5.52%, respectively. The company’s co-founders, Aloke Bajpai and Rajnish Kumar, collectively hold a 16.65% stake.

Ixigo reported strong financial performance in the first nine months of the last fiscal year (FY24), achieving an operating revenue of Rs 491 crore and a profit of Rs 65.7 crore.