Le Travenues Know-how Ltd, which operates the journey reserving platform ixigo, and metal wire producer Bansal Wire Industries have acquired Sebi’s go-ahead to lift funds by means of Preliminary Public Providing (IPOs), an replace with the markets regulator confirmed on Wednesday.

The 2 firms, which filed their preliminary IPO papers with Sebi in February and March, obtained their observations throughout Might 14-17.

In Sebi’s parlance, acquiring observations means the regulator’s go-ahead to drift public situation.

The Gurugram-based Le Travenues Know-how’s proposed IPO shall be a mix of a contemporary situation of fairness shares price Rs 120 crore and an Supply For Sale (OFS) of 6.66 crore fairness shares by current shareholders, in accordance with the Draft Crimson Herring Prospectus (DRHP).

SAIF Companions India IV Ltd, Peak XV Companions Investments V (previously often called SCI Investments V), Micromax Informatics Ltd, Placid Holdings, Catalyst Trusteeship Ltd, Madison India Capital HC, Aloke Bajpai and Rajnish Kumar shall be promoting shares by means of the OFS (Supply for Sale).

Proceeds price Rs 45 crore from the contemporary situation shall be used to fund the corporate’s working capital necessities and Rs 26 crore shall be utilised for investments in know-how in addition to knowledge science, together with cloud and server internet hosting, know-how on synthetic intelligence and buyer engagement.

Moreover, funds shall be used to help inorganic development by means of acquisitions, and for basic company functions.

Additionally, the corporate plans to lift as much as Rs 24 crore in a pre-IPO spherical. If such placement is undertaken, the contemporary situation measurement shall be decreased.

Le Travenues Know-how was launched in 2007 by Aloke Bajpai and Rajnish Kumar. The corporate helps travellers plan, ebook and handle their journeys throughout rail, air, buses and inns.

The corporate’s complete earnings rose to Rs 517 crore within the monetary yr ended March 2023 from Rs 385 crore within the previous fiscal. The agency logged a revenue of Rs 23.4 crore for the yr ended March 2023 whereas it had a lack of Rs 21 crore within the earlier monetary yr.

As per the draft papers, Bansal Wire Industries is a completely contemporary situation of fairness shares price Rs 745 crore with no OFS part.

Funds shall be used for the cost of debt, to help the working capital necessities of the corporate, and for basic company functions.

Bansal Wire Industries is engaged within the enterprise of producing and exporting metal wires. It operates in three broad segments ‘?excessive carbon metal wire, delicate metal wire (low carbon metal wire) and chrome steel wire.

Additionally, the corporate plans so as to add a brand new phase of speciality wires by means of its upcoming plant in Dadri, which is able to assist it develop and develop its market presence within the upcoming fiscals.

Moreover, Sebi has returned the draft IPO doc of Vasuki International Industries on Might 16 with out specifying any cause. The draft papers have been filed final month.

Apart from, Raghuvir Exim Ltd has withdrawn its draft IPO papers on Might 13. The draft doc was filed in April.

First Printed: Might 22 2024 | 2:23 PM IST