Ixigo raises $53 million led by Singapore’s sovereign wealth fund GIC

Online travel app Ixigo has raised $53 million (Rs 395 crore) from investors led by Singapore sovereign wealth fund GIC NSE 0.97 %, ahead of its proposed initial public offering, according to regulatory filings sourced from Tofler.

“The company is looking at a valuation of $750-800 million for the IPO that is scheduled for the fourth quarter of the current calendar year,” said a person with knowledge of the development. “It plans to raise Rs 1,200-1,500 crore via its IPO for which it will file its draft red herring prospectus next month.”