Weekly Market Update: June 3 - June 7, 2024

Market Indices Performance

The Nifty 50 opened at 23,337.90 on June 3, 2024, and closed at 23,290.15 on June 7, 2024.

The Bank Nifty opened at 50,889.85 on June 3, 2024, and closed at 49,803.20 on June 7, 2024.

This week saw a slight decline in both indices.

Mutual Fund Allotment Delay

Retail investors were robbed of gains from the market crash on June 4 due to a delay in mutual fund allotment. A technical glitch on the election verdict day left investors unable to buy the dip. However, BSE denied a technical glitch on June 4, which led investors to lose money in MFs investments.

Ace Investor's Move

Radhakishan Damani, an ace investor, booked profit in a multibagger Tata group stock. This move is a part of his portfolio management strategy.

SEBI's New Initiative

The Securities and Exchange Board of India (SEBI) launched the Saa ?thi 2.0 app on personal finance for investors. This initiative aims to educate investors about personal finance and investment.

Market Reaction to Election Results

The election results led to a 5% crack in the markets. Experts advise that this fall could be an opportunity for long-term investors.

Ixigo IPO

Ixigo, a travel and hotel booking e-commerce website, is going public. Here are 10 things to know before you subscribe to the issue.

Paytm's UPI Market Share

Paytm's UPI market share declined for the fourth straight month to 8% in May over RBI crackdown. This is a significant development in the digital payments industry.

Recent List IPO

AWFIS Space Solutions IPO

• Listing Exchange BSE, NSE
• Listing Date 30-May-24
• IPO Price Range ?364
• Listing Price ?432.25
• Listing Change 12.9 %
• Last Traded Price ?448.5
• Current Change 17.1 %

Upcoming IPO Full Details Analysis

Le Travenues Technology (Ixigo) IPO

Ixigo IPO Details

Open Date 10-Jun-24

Close Date 12-Jun-24

Lot Size 161

IPO Size ? 740.10 Cr

IPO Price Range ? 88 to ? 93

Min Investment ? 14,973

Listing Exchange BSE, NSE

Basis of Allotment 13-Jun-24

Refunds 14-Jun-24

Credit to Demat Account 14-Jun-24

Listing Date 18-Jun-24

Ixigo IPO Synopsis

Le Travenues Technology Limited's (Ixigo) IPO will go live from 10th June to 12th June 2024. The company operates in the Indian travel and tourism industry. The IPO includes a fresh issue of 12,903,226 shares worth ?120 cr and an Offer-for-Sale (OFS) of 66,677,674 Equity Shares worth ?620.10 cr. The total IPO size is ?740.10 cr. The share allotment date is 13th June and the listing date is 18th June. The price band is set at ?88 to ?93 and the lot size is 161 shares. ??

Objectives of the?Ixigo IPO:

●?? ?For working capital requirements

●?? ?To invest in cloud infrastructure and technology

●?? ?Funding inorganic growth through unidentified acquisitions and other strategic initiatives

●?? ?General corporate purposes

About Le Travenues Technology (Ixigo)

Le Travenues Technology Limited operates in the Indian travel and tourism industry. It allows individuals to plan, book, and manage their travel and trips in terms of rail, air, bus and hotel bookings. In addition to this, the company also allows the usage of travel utility tools and services developed using in-house proprietary algorithms and crowd-sourced information. ?

This includes train PNR status and confirmation predictions, train seat availability alerts, train running status updates and delay predictions, alternate route or mode planning, flight status updates, automated web check-in, bus running status, pricing and availability alerts, deal discovery, destination content, personalised recommendations, instant fare alerts for flights, AI-based travel itinerary planner and automated customer support services. ?

Ixigo had a market share of 46.15% in the OTA rail market as of FY23 which increased to 52.4% in the first half of FY24. As of September 2023, the company enjoyed the highest app usage among OTAs with 83 million Monthly Active Users across its apps.