Air IQ Confidentially Files IPO Papers, Eyes ₹1,000-Crore Fundraise
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Siliguri-based travel technology company Air IQ has confidentially filed IPO papers with SEBI to raise around ₹1,000 crore. The proposed issue is expected to include about 60% OFS and the rest as a fresh issue.
Air IQ, a B2B travel technology and distribution company, has confidentially filed draft papers with the Securities and Exchange Board of India (SEBI) to raise around ₹1,000 crore through an initial public offering (IPO), according to people familiar with the matter.
The Siliguri-based company filed its draft red herring prospectus (DRHP) on 24 September. The proposed issue will combine a fresh share sale with an offer for sale (OFS).
Promoters and members of the promoter family are expected to sell part of their holdings through the OFS.
Pantomath Capital Advisors Is The IPO Banker
Pantomath Capital Advisors has been appointed as the sole book-running lead manager for the proposed IPO.
Air IQ operates a B2B travel technology platform that connects airlines, hotels, travel agencies and technology partners.
Its platform covers several parts of the travel booking process, including flight and hotel search, reservations, ticketing and post-booking services. Travel agencies can use the system through a single integrated platform rather than managing these functions separately.
IPO Fundraising Crosses ₹1 Lakh Crore Again
The proposed issue comes during another strong year for India's primary market. More than 80 mainboard IPOs have been launched so far in the current calendar year, collectively raising nearly ₹1.10 lakh crore.
This marks the third consecutive calendar year in which fundraising through mainboard IPOs has crossed the ₹1 lakh crore mark.
The Air IQ IPO is still at an early stage, and details such as the final issue size, price band and subscription dates are expected to be disclosed at a later stage.
Also Read - Ekkaa Electronics Files IPO Papers For ₹725 Crore Issue With Abakkus, Mukul Agrawal As Investors
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
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