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Zomato’s success helped tech startups like us: Ixigo's Aloke Bajpai

After 17 years, Ixigo, founded by Aloke Bajpai in 2006, debuted on the NSE at Rs 138.10, well over the Rs 93 issue price. Bajpai celebrated and emphasised regained investor confidence.

By Rashaad Ather
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Aloke Bajpai - Founder At Ixigo

Aloke Bajpai - Founder At Ixigo

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Ixigo founder Aloke Bajpai told Moneycontrol recently, that investors in the last 2-3 years have started gaining interest in tech startups for their low fixed costs. The 17-year-old travel tech startup Ixigo got listed on the exchanges on Tuesday.

Aloke Bajpai celebrated the company's successful stock market debut. After 17 years, the company was listed on the NSE at Rs 138.10, a 48.5% premium over the issue price of Rs 93. 

Ixigo, founded in 2006, expanded to include train bookings in 2017.

Bajpai invited former employees and early contributors to mark the occasion. 

Challenges:

In his 18-year-old entrepreneurial journey, Bajpai faced financial challenges but remained committed to long-term growth. 

He made tough decisions to keep the business afloat during difficult times and received support from our dedicated team. 

Ixigo filed for an IPO at the end of 2021 but had to pause due to market conditions. After focusing on growing the business for two years, they returned with stronger financials.

He also had to recalibrate as he invested in AI before it became popular, and now it powers 90% of Ixigo’s customer support interactions. They started focusing on trains after realizing that the majority of Indians travel by train.

Regained Investor Confidence:

This year, Bajpai states that companies have learned to provide easily understandable financial statements and engage with investors regularly, which has built more confidence in the investor community. 

There's growing recognition of operating leverage in tech businesses, with companies like Zomato showing how tech platforms can achieve profitability and expand without significantly increasing fixed costs, building more investor confidence.