Online travel portal ixigo has raised about $53 million (Rs 395 crore) through a combination of primary and secondary issuance of shares led by Singapore sovereign wealth fund GIC, per the company’s latest regulatory filings.
ixigo had so far raised close to $22 million as part of its primary fundraise. It also counts Sequoia Capital India, Fosun RZ, Elevation Capital and Micromax Informatics among its investors.
The latest round comes at a time when the company is preparing to launch its IPO later this year to raise Rs1,500-1,800 crore. It has appointed Kotak Mahindra Bank, ICICI Securities, Axis Capital Ltd and Nomura as its investment bankers, and was expected to file its draft red herring prospectus this month, per a Mint report in May.
With this, ixigo joins other startups that are looking to go public this year including logistics technology company Delhivery, digital payments startup Mobikwik, beauty products retailer Nykaa, online insurance aggregator Policybazaar, online pharmacy chain Pharmeasy, among others.
The travel & tourism industry in India has been severely hard due to the pandemic-induced movement restrictions. According to an NCAER report, 14.5 million jobs were lost during the first quarter, followed by 5.2 million jobs during the second quarter and another 1.8 million jobs during the third quarter of 20-21, after the lockdown was imposed.