Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Monitoring Agency Report for the quarter ended June 30, 2025
IXIGO · price
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Awaiting price reaction for this filing.
Le Travenues Technology (Ixigo) filed the ICRA Monitoring Agency Report for Q1 FY26, tracking use of proceeds from its June 2024 IPO of ₹740.1 crore. Net proceeds stood at ₹712.67 crore (revised up by ₹1.56 crore). Of the three stated objects, ₹22.63 crore of ₹45 crore has been used for working capital, ₹9.85 crore of ₹25.80 crore for technology and data science investments, and ₹39.16 crore of ₹41.87 crore for organic growth, including a ₹11.54 crore acquisition of a 51% stake in Zoop Web Services. Unutilized funds of about ₹43.83 crore are parked in fixed deposits with Axis Bank and HDFC Bank earning 7.25–7.40% returns, with ₹4.35 crore held in the public issue escrow account. Salary payments of ₹27.62 crore were also made from IPO proceeds, and the monitoring agency raised no objections.
The report shows IPO funds are being deployed in line with stated objects, with no deviations flagged by the monitoring agency, which is a neutral-to-positive governance signal. The acquisition of a majority stake in Zoop Web Services and ongoing tech investments suggest growth-oriented use of capital, while idle funds earning ~7.4% provide some yield support.