Coronation Fund Manager hikes stake in Ixigo to over 5%

Coronation Fund Managers Ltd, a South Africa-headquartered asset manager, has increased its shareholding in online travel platform Le Travenues Technology Limited (Ixigo), according to a regulatory filing.

Coronation, which is listed on the Johannesburg Stock Exchange, acquired 1,83,322 equity shares of Le Travenues in the open market, according to the disclosure. The purchase pushed its stake above the 5% threshold.

Before the transaction, Coronation held 2,18,52,552 shares, which is equal to 4.99% of Ixigo’ equity share capital. After the acquisition, its holding rose to 2,20,35,874 shares, or 5.03%.

Recently, Prosus increased its stake in Ixigo to approximately 15% via an off-market transaction. Prosus acquired 3.16% fully diluted stake from Peak XV and 1.9% stake from Elevation.

The purchase follows ixigo’s announcement that it will acquire a 60% majority stake upfront, with an option to buy the remaining stake later, in Spain-based online train ticketing platform Trenes for around Rs 125 crore. Trenes will operate as an ixigo step-down subsidiary.

Ixigo’s revenue from operations increased to Rs 317.6 crore in Q3 FY26 in contrast to Rs 242 crore in Q3 FY25. The company increased its profit by 55% to Rs 24 crore in the same period.

Ixigo’s shares are trading at Rs 164.4 (as of 11:15 AM), giving the online travel aggregator a market capitalization of Rs 7,148 crore (approximately $786 million).