As airlines continue to higher passenger numbers online travel report, companies are seeing renewed interest from investors. at least three Indian companies travel online--ixigo.com, yatra.com and cleartrip.com--are in the process of securing investments through initial public offerings (IPOs), private equity or venture capital funds.
The renewed interest in online travel companies that went through a rough patch of the global economic downturn hit the travel industry, is driven mainly by the successful stock company Indian online travel MakeMyTrip Ltd, which runs on Nasdaq makemytrip.com, in August, and which stocks soared to three times its IPO price of $ 14 each.
"The entire company profile online travel increased from 20% increase in passenger powered by overall economic growth, Makemytrip's Dhruv Shringi," said Chief Executive Officer and co-founder yatra.com.
"We been through several financial and strategic investors in the past few weeks for our growth capital requirements," said Aloke Bajpai, founder and Chief Executive Officer of ixigo.com, meta search online travel company that is looking to raise between $ 7 million (31.4 racket ') and $ 10 million for new product development, brand building and expansion into new markets.
"Some of it may be caused by 200% year on year, we experienced in fiscal 2010, but one cannot ignore the effect last validation basic fundamentals of market size and growth of the online travel industry," he added.
According to data from market research firm online Travel PhoCusWright Indian online travel market will be $ 6 billion by 2010.
MakeMyTrip raised 80.5 million dollars through its IPO. He raised $ 39 million in venture capital since its founding in 2000.
Suvir Sujan, co-founder and Chief Executive Nexus Venture partners, said other companies opting for IPOs is successful, but cannot get the same value as Makemytrip, a premium market leader with 50% share.
"Venture capital Investors are now looking to invest in meta search.We have also looked at player in this space, "said Sujan. Nexus Venture Partners invested 2 million USD in MagicRooms Solutions (India) Pvt. Ltd, which is Internet enabled reservation system for Hotels in India and overseas out there are two to three good company in the search space, which could attract meta financing, adding that venture capital firms can be expected returns as high as 20 times on such investments.
Alok Mittal, Managing Director of Canaan India which has invested US $ 7 million in online shopping naaptol.com firm predicted that many online travel agents could go to IPO as travel market has Back."There is a significant shift in business to online travel agencies, travel companies, while offline is healthy competition," said many industry representatives felt that yatra.com and will soon go cleartip.com for IPO, taking into account market conditions.However, Dhruv Shringi, said, we have no immediate plans to go public as well is funded."We will examine the right time to do this."
By Sandeep Murthy, partner, Sherpalo Ventures, which is invested in cleartrip.com, also looks in good time to go public, saying, public markets seem to have understood the potential of this space, more than these private. However, it added that there would be a unique proposal for financing.
"Suppliers or auxiliary equipment and support services to such companies as hotel aggregators will attract investments," he said.
p.sanjai@livemint.com
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