Antilog Vacations gears up for a $150 Mn IPO

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Indian Vacations booking company Antilog Vacations , might look to launch its IPO at Bombay stock exchange by the end of 2018.

Founded in 2011, Antilog Vacations has grown to become India’s biggest Collection of luxury Holidays. It is making a big impact in Indian B2B market where it holds a significant advantage in pricing and Technology. Antilog operates in seventeen different Consumer markets with India, France, UK, US, Germany, Japan being the major ones. It has thirty different feeder websites & portals in five different languages.

Unconfirmed sources have also hinted that a Nasdaq IPO cannot be ruled out owing to  global nature of Business and valuations on offer. The Company has established qualifying financial credentials with YoY growth and a profitable balance sheet.US Air Ticketing player Sabre and Antilog Vacations are in talks for a possible collaboration which could see a major upheaval in Indian air ticketing market of around $5 Bn. Antilog Vacations is also looking to expand in Europe through the acquisition route of Destination management companies  involved in last mile fulfilment.

Indian online industry is witnessing a consolidation with many local players unable to match the big money of global giants in a price conscious market. Ecommerce players like Flipkart, OLA Cabs are struggling on a price war with rivals like Amazon & Uber. Antilog Vacations faces major challenge from Thomas Cook India Pvt. Ltd and Cox and Kings which operate through a franchise distribution model. SOTC & TUI are also in race with their offerings centred around corporate bookings.

Previously MakeMyTrip Ltd, the parent company of MakeMyTrip (India) Pvt Ltd and makemytrip.com, fixed the price of its initial public offer (IPO) at $14 per share. It sold 5,000,000 ordinary shares through an IPO and got listed on the Nasdaq in 2010 .At $14 a share, MakeMyTrip was valued at $478 million (Rs 2,236 crore), or five times of sales. Antilog Vacations is looking at a $150 Mn ( INR 1000 Cr) fund raise which could get it valued at around $400 Mn. It  is privately held with no investors on board and a major stake holding can be distributed among employees to a tune of at least $25Mn in form of stock options with a vesting clause.

Analysts said that current expectation is expensive relative to Expedia, a little higher than Priceline.com, but cheap compared to Ctrip, the Chinese travel portal which made a debut in 2003.Ctrip is worth $5.4 billion or 17 times trailing 12-month sales, wrote Tim Mullaney in a recent column on Reuters’ Breakingviews.com.