Monitoring Agency Report for the quarter ended March 31, 2025
IXIGO · price
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Awaiting price reaction for this filing.
Le Travenues Technology (Ixigo) has filed the quarterly Monitoring Agency Report from ICRA Limited for Q4 FY2025, tracking usage of IPO proceeds from its June 2024 listing. The IPO raised ₹740.1 crore in total, with net proceeds of ₹112.67 crore earmarked for the company (excluding OFS and issue expenses). Of this, ₹45.32 crore has been utilized so far: ₹22.63 crore for working capital, ₹5.22 crore for technology and data science investments, and ₹23.50 crore for inorganic growth (including ₹11.54 crore used to acquire a 51% stake in Zoop Web Services). The remaining ₹74.33 crore is parked in fixed deposits with Axis Bank and HDFC Bank (earning 7.25–7.40%) and in a public issue escrow account. ICRA noted no material deviations in utilization, and both the monitoring agency and the Board had no adverse comments.
This is a routine compliance filing confirming that IPO funds are being deployed in line with the stated objectives without any deviations, which is mildly positive for investor confidence. The slow utilization of the technology and data science allocation (~20% used) is worth monitoring, but the deployment in fixed deposits ensures the unutilized corpus is earning a reasonable return.