Deal Corner
July 09, 2024
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

Disclaimer

The contents of this hotline should not be construed as legal opinion. View detailed disclaimer.

This Hotline provides general information existing at the time of preparation. The Hotline is intended as a news update and Nishith Desai Associates neither assumes nor accepts any responsibility for any loss arising to any person acting or refraining from acting as a result of any material contained in this Hotline. It is recommended that professional advice be taken based on the specific facts and circumstances. This Hotline does not substitute the need to refer to the original pronouncements.

This is not a Spam mail. You have received this mail because you have either requested for it or someone must have suggested your name. Since India has no anti-spamming law, we refer to the US directive, which states that a mail cannot be considered Spam if it contains the sender's contact information, which this mail does. In case this mail doesn't concern you, please unsubscribe from mailing list.

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Deal Corner

July 09, 2024

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

Disclaimer

The contents of this hotline should not be construed as legal opinion. View detailed disclaimer.

This Hotline provides general information existing at the time of preparation. The Hotline is intended as a news update and Nishith Desai Associates neither assumes nor accepts any responsibility for any loss arising to any person acting or refraining from acting as a result of any material contained in this Hotline. It is recommended that professional advice be taken based on the specific facts and circumstances. This Hotline does not substitute the need to refer to the original pronouncements.

This is not a Spam mail. You have received this mail because you have either requested for it or someone must have suggested your name. Since India has no anti-spamming law, we refer to the US directive, which states that a mail cannot be considered Spam if it contains the sender's contact information, which this mail does. In case this mail doesn't concern you, please unsubscribe from mailing list.

NDA Connect

Connect with us at events, 
conferences and seminars.