The Largest IPO in India’s Hospitality Sector

Skift Take

TBO Tek’s successful IPO was followed by Ixigo’s listing. Will Leela’s debut on the stock market make it a hat-trick for Indian travel and hospitality companies?

Which hotel group is coming up with the largest IPO in the history of India’s hospitality sector? Which large Indian carrier is now offering hotel booking options? Find out responses to all this and more as the Skift India Travel Podcast discusses the latest happenings in Indian travel, tourism, and hospitality in this episode.

Key Points

Ixigo’s IPO Success: Ixigo’s IPO was oversubscribed 98 times within the three days it was open, highlighting its strong demand among investors across all categories. This compares favorably to other notable IPOs such as TBO Tek and Nykaa.

Leela Hotels’ Upcoming IPO: Leela Hotels is planning an IPO with a valuation of approximately $2.5 billion, aiming to raise around $377 million, potentially making it the largest IPO in India’s hospitality sector.

Skyscanner’s Positive Outlook on India: Skyscanner’s VP, Hugh Atkin, mentioned significant growth in the Indian market, citing a growing middle class, increased travel expenditure, and strong airline performances as key factors for this optimism.

Indigo’s Hotel Booking Option: Indigo has introduced a hotel booking option on its website and app, partnering with Expedia Group to provide an integrated service that aims to offer exclusive discounts to customers.

New Ministers for Tourism and Aviation: India has new ministers for tourism and aviation, with Gajendra Singh Shekhawat and Kinjarapu Rammohan Naidu respectively. Naidu has announced a plan to reduce airfares, which is seen as positive for passengers but may pose challenges for airlines.

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Episode Notes

In the latest episode of the Skift India Travel Podcast, Asia editor Peden Doma Bhutia and India reporter Bulbul Dhawan discuss recent developments in India’s travel, tourism, and hospitality sectors. The podcast covers the Ixigo IPO, which was subscribed 98 times, making it a significant success compared to previous IPOs like TBO Tek and Nykaa. The Leela Hotels IPO is also highlighted, with an anticipated valuation of $2.5 billion, potentially making it the largest IPO in India’s hospitality sector. The hosts emphasize the importance of timing in the success of these IPOs.

Skyscanner’s recent insights show significant growth in the Indian market, driven by a growing middle class and increased travel expenditure. The podcast also mentions IndiGo’s new hotel booking option on its platform, aimed at creating a one-stop solution for travelers, following similar moves by other airlines like Vistara and SpiceJet.

Additionally, the podcast discusses the appointment of new ministers for tourism and aviation in India. Gajendra Singh Shekhawat is the new Tourism Minister, and Kinjarapu Rammohan Naidu is the new Aviation Minister. Naidu has outlined a 100-day plan focusing on reducing airfares, which could benefit passengers but poses challenges for airlines.

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