Deal Corner

NDA Represents Steadview Capital Mauritius Limited in the Pre-IPO Acquisition of the Shares of Le Travenues Technology Limited

DEAL BRIEF

Steadview Capital Mauritius Limited (“Steadview”) acquired shares of Le Travenues Technology Limited (“Ixigo”) from three of its existing shareholders namely, Peak XV Partners Investments V, Madison India Opportunities Trust Fund and Micromax Informatics Limited, as part of a pre-IPO secondary sale round of approximately INR 1.76 Billion.

Le Travenues Technology Limited is the parent company of Ixigo, a technology company that operates an online travel agency platform which provides travel utility tools and services, developed using in-house proprietary algorithms, to allow consumers to book train, bus, and flight tickets, as well as hotels and cabs.

OUR ROLE

We at Nishith Desai Associates, acted as the deal counsel for Steadview and advised them on legal, tax and regulatory aspects, including negotiation and finalization of the transaction documents against the three different sellers.

DEAL TEAM

Harshita Srivastava

Sach Chabria

Ipsita Agarwalla

Arijit Ghosh

Chandrashekar K

MEDIA COVERAGE

https://economictimes.indiatimes.com/tech/technology/ixigos-parent-firm-says-existing-investors-sell-shares-worth-rs-176-crore-in-pre-ipo-round/articleshow/110792073.cms

https://www.business-standard.com/markets/ipo/ixigo-s-parent-firm-says-investors-sell-shares-worth-rs-176-cr-in-pre-ipo-124060700537_1.html

https://www.livemint.com/market/ipo/ixigo-ipo-to-open-on-june-10-heres-what-gmp-indicates-ahead-of-public-issue-11717834383622.html

https://www.ptinews.com/story/business/ixigo-s-parent-firm-says-existing-investors-sell-shares-worth-rs-176-crore-in-pre-ipo-round/1564842