Prosus to acquire 10.1% stake in ixigo for Rs 1,296 Cr

Le Travenues Technology Limited, the parent company of travel tech platform ixigo, has announced that its board has approved a primary investment from Prosus (MIH Investments One B.V.) through a preferential issue of equity shares.

Prosus will invest Rs 1,295.56 crore (approximately $146 million) for a 10.1% stake in ixigo on a fully diluted basis. The investment corresponds to a share price of Rs 280 per share, slightly higher than the 10-day volume-weighted average price. 

ixigo, which listed on the stock exchange in June 2024 at Rs 93 per share, has become one of India’s fastest-growing online travel agencies, particularly among next-billion-user travelers. 

The company plans to use the funds for organic expansion, acquisitions, working capital, and general corporate purposes. The partnership is expected to strengthen ixigo’s position in the online travel market and support its long-term growth strategy.

Global asset manager Schroder Investment Management recently raised its stake in Le Travenues Technology Limited, while early investor Elevation has made several partial exits over the past few months.

On the financial front, Ixigo’s revenue from operations surged 72.5% to Rs 314 crore in Q1 FY26, in contrast to Rs 182 crore in Q1 FY25. During the period, the company’s net profit grew 27% year-on-year to Rs 19 crore in Q1 FY26 from Rs 15 crore in Q1 FY25.

Prosus is a global investor and operator focused on technology-led businesses across India, Latin America, and Europe. It has invested more than $8.6 billion in India across companies such as Flipkart, Goibibo, Swiggy, Meesho, Urban and Company. Prosus recently acquired a Rs 1,968 crore stake in Rapido from Swiggy through its affiliate, MIH Investments.