NGC 7424 is a barred spiral galaxy with an apparent magnitude of 10.4. located around 4 degrees west of the Grus Triplet. Approximately 37.5 million light-years distant, it is about 100,000 light-years in diameter, has well defined spiral arms and is thought to resemble the Milky Way. Two ultraluminous X-ray sources and one supernova have been observed in NGC 7424. SN 2001ig was discovered in 2001 and classified as a Type IIb supernova, one that initially showed a weak hydrogen line in its spectrum, but this emission later became undetectable and was replaced by lines of oxygen, magnesium and calcium, as well as other features that resembled the spectrum of a Type Ib supernova. A massive star of spectral type F, A or B is thought to be the surviving binary companion to SN 2001ig, which was believed to have been a Wolf–Rayet star.