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ixigo to acquire 60% stake in Spain’s Trenes for Rs 125 Cr, enters Europe

EntrackrEntrackr · 5d ago
ixigo to acquire 60% stake in Spain’s Trenes for Rs 125 Cr, enters Europe
Medial

**ixigo to acquire 60% stake in Spain’s Trenes for Rs 125 Cr, enters Europe** Online travel aggregator ixigo has approved the acquisition of a majority stake in Spain-based online train ticketing platform Trenes for a total investment of around Rs 125 crore. As part of the transaction, ixigo will acquire an upfront 60% stake in Trenes. Post-acquisition, Trenes will become a step-down subsidiary of ixigo. The company will also have the option to acquire the remaining shareholding at a later stage. Founded in 2013, Trenes operates across Spain and Southern Europe and is integrated with major Spanish and European rail operators, enabling multi-operator rail bookings. Spain’s rail market recorded 549 million passengers in 2024. Trenes reported operating revenue of around Rs 60 crore and a profit after tax of about Rs 15 crore in CY25. The acquisition is ixigo’s first major international deal and its strategic entry into Europe, a market widely regarded as the global benchmark for rail travel. ixigo expects to generate synergies by combining Trenes’ local market presence and rail integrations with its AI-led product capabilities and technology expertise. Founded in 2007 by Aloke Bajpai and Rajnish Kumar, ixigo operates an AI-based travel platform offering bookings across trains, flights, buses, hotels and cabs through its ixigo, ConfirmTkt and AbhiBus apps. The company reported over 54 crore annual active users in FY25. For the quarter ended December 2025, ixigo’s revenue from operations rose to Rs 317.6 crore in Q3 FY26 from Rs 242 crore in Q3 FY25, while profit increased 55% to Rs 24 crore from Rs 15.5 crore during the same period.

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Schroder Fund enters Ixigo via Elevation stake acquisition

EntrackrEntrackr · 8m ago
Schroder Fund enters Ixigo via Elevation stake acquisition
Medial

Schroder Fund enters Ixigo via Elevation stake acquisition Elevation Capital (formerly SAIF Partners) sold Rs 135 crore ($15.7 million) worth of shares in Ixigo parent Le Travenues Technology via block deals on Thursday. This partial exit is estimated to have delivered a 25X return on investment for the venture capital firm. According to a filing accessed from the Bombay Stock Exchange (BSE), Elevation Capital offloaded 75.48 lakh shares at an average price of Rs 179.25 apiece. At the same time, global investor Schroder Fund made its entry into Ixigo by acquiring 53.68 lakh shares worth Rs 96.8 crore. Schroder Fund is a British multinational asset management firm with a presence in 37 locations across Europe, the Americas, the Middle East, and Africa. At present, it reportedly manages assets worth around $950 billion. Notably, the fund holds significant investments in Indian companies, particularly HDFC Bank and ICICI Bank, which together make up around 6–7% of its total portfolio. In the startup space, Schroder is one of the largest stakeholders in e-commerce-focused packaging company Bizongo and also participated in Agrostar’s $70 million Series D round. It has also backed Lenskart, FirstCry, Cultfit, Peel Works and Miko, among others. As of FY25, Elevation Capital held 5.46 crore shares in Ixigo (14.02%). After the partial sale, its stake will drop to 12.08%. This records Elevation’s fourth partial exit from Ixigo. Most recently, it sold 21.5 lakh shares for Rs 38.27 crore (about $4.5 million). Earlier, the firm had offloaded shares worth Rs 100 crore ($12 million) in a pre-IPO secondary deal and Rs 180 crore ($21 million) during the IPO. For the quarter ended March 2025, Ixigo reported a 72% year-on-year increase in revenue to Rs 284 crore, while profit rose 2.4X to Rs 17 crore. Its revenue grew 39% to Rs 914 crore, but net profit fell 18% to Rs 60.2 crore in FY25. At the close of trading on Thursday (June 19), Ixigo’s shares were priced at Rs 175, giving the company a market capitalization of Rs 6,885 crore.

Ixigo set to acquire 51% stake in train food delivery firm Zoop

EntrackrEntrackr · 1y ago
Ixigo set to acquire 51% stake in train food delivery firm Zoop
Medial

Travel booking platform Ixigo is all set to acquire a majority stake in Zoop Web Services Private Limited. The board of directors at Ixigo approved the acquisition during a meeting held on October 24, 2024. The deal involves Ixigo purchasing a 51% stake in Zoop for a total consideration of Rs 12.54 crore, which includes a non-compete fee. This transaction is subject to the fulfillment of certain conditions, as outlined in the definitive agreements signed by both companies. The acquisition will be executed through a combination of secondary and primary share purchases. Zoop is known for providing e-catering and other solutions for the railway ecosystem. By integrating Zoop’s offerings into its platform, Ixigo aims to provide a more comprehensive travel experience to its users. This acquisition makes sense for Ixigo as 53% of its revenue collected in Q2 FY25 came from the train vertical. Zoop offers meal bookings, PNR status checks, and other railway-related services. It operates across 18 states and provides services at 192 railway stations. The company partners with nearly 400 active restaurants. In addition to acquiring the majority stake, Ixigo has secured an option to purchase the remaining 49% stake in Zoop in the future. This is the third major acquisition for Ixigo. In February 2021, it acquired a 100% stake in the train booking app Confirmtkt, while it took over the bus aggregator platform AbhiBus in August of the same year. Ixigo's revenue from operations saw a 26% growth to Rs 206.47 crore in Q2 FY25, compared to the same period in FY24. However, the company's profit after tax (PAT) experienced a significant decline of 51%, dropping from Rs 26.70 crore in Q2 FY24 to Rs 13.08 crore in Q2 FY25.

Prosus raises Ixigo stake by 5% via secondary transaction

EntrackrEntrackr · 4m ago
Prosus raises Ixigo stake by 5% via secondary transaction
Medial

Prosus raises Ixigo stake by 5% via secondary transaction The development comes soon after Prosus’s investment of Rs 1,295.56 crore (approximately $146 million) in Ixigo for a 10.1% stake on a fully diluted basis. MIH Investments One B.V., a Prosus company, has increased its stake to 15% in Le Travenues Technology Limited, the parent of travel platform Ixigo. According to a disclosure by Prosus, it acquired the stake through an off-market transaction. As per sources, Prosus has purchased 5.06% of fully diluted stake from Peak XV (3.16%) and Elevation (1.9%). Peak XV declined to comment on the story while queries sent to Elevation, Ixigo, and Prosus did not elicit a response until publication of the story. Prosus will reportedly pay another Rs 620–660 crore to acquire an additional stake through a secondary deal. With this transaction, Prosus’s total holding in the Gurugram-based travel tech platform is expected to rise to around 15%. The move aligns with the investor’s strategy to deepen its presence in India. The investment firm aims to expand its India portfolio to about $50 billion over the next few years through a mix of investments and acquisitions. On the financial front, Ixigo’s operating revenue jumped 72.5% to Rs 314 crore in Q1 FY26 from Rs 182 crore in the same quarter last year. The company’s net profit also rose 27% to Rs 19 crore in Q1 FY26, compared to Rs 15 crore in Q1 FY25.

Ixigo grants over 2 lakh ESOPs worth Rs 3.78 Cr

EntrackrEntrackr · 7m ago
Ixigo grants over 2 lakh ESOPs worth Rs 3.78 Cr
Medial

Ixigo grants over 2 lakh ESOPs worth Rs 3.78 Cr Le Travenues Technology Limited, the parent company of travel tech platform Ixigo, has granted 211,912 stock options under its ESOP schemes of ESOS 2013, 2020, 2021, and 2024. The options have been issued at an exercise price of Rs 93 per share and will vest over four years in equal annual tranches. At the current market price of Rs 178.6 per share, the total value of the grant stands at approximately Rs 3.78 crore, implying a per-option value gain of Rs 85.6 for eligible employees. Ixigo reported a 72% growth in scale in the last quarter of FY25, reporting a revenue of Rs 284 crore in Q4 FY25. Meanwhile, its year-on-year (YoY) profits increased by 2.4X to Rs 17 crore during the same period. Recently, Elevation Capital also offloaded 75.48 lakh shares of Ixigo at an average price of Rs 179.25 apiece. At the same time, global investor Schroder Fund made its entry into Ixigo by acquiring 53.68 lakh shares worth Rs 96.8 crore. At the close of trading on Wednesday (July 16), Ixigo’s shares were priced at Rs 179.8, giving the company a market capitalization of Rs 7,017 crore (approximately $820 million).

EaseMyTrip invests Rs 90 Cr in two overseas firms; enters medical tourism space

EntrackrEntrackr · 1y ago
EaseMyTrip invests Rs 90 Cr in two overseas firms; enters medical tourism space
Medial

Online travel aggregator (OTA) platform EaseMyTrip has acquired a 30% stake in Rollins International and a 49% stake in Pflege Home Healthcare to enter the medical tourism market. The board of directors at EaseMyTrip has approved the acquisition of Rollins International (30%) and Pflege Home Healthcare (49%) at a consideration of Rs 60 crore and Rs 30 crore, respectively, the company’s disclosure accessed from the National Stock Exchange shows. According to the filings, the consideration of Rs 90 crore will be paid to Rollins and Pflege in the form of an equity swap i.e. issuance of EaseMyTrip’s shares. “The acquisition is a strategic expansion into the rapidly growing medical tourism sector and align with EaseMyTrip’s mission to offer holistic travel solutions by integrating wellness and healthcare services into its service portfolio as medical tourism.” the company added in the disclosure. Pflege Healthcare is a UAE-based medical tourism provider which offers international patients access to treatments worldwide with partnerships across top-tier medical institutions and leading hotel chains. Rollins International is a subsidiary of Singapore-based RHA Holding which focuses on wellness, healthcare, and consumer products such as gluten and lactose-free food products, allergen-free health supplements, wellness therapies and treatments. Earlier this month, EaseMyTrip’s board also approved the proposal for the manufacturing of electric buses. Over the years, the company expanded its portfolio through the acquisition of several firms in the travel and hospitality sectors, including Guideline Travels Holidays, TripShope Travel Technologies, and Dook Travels last year. The Nishant Pitti-led firm recorded a 6.8% quarter-on-quarter decrease in its revenue to Rs 152.6 crore in the first quarter of the ongoing fiscal year as compared to Rs 164 crore in Q4 FY24. A slight decline in scale led EasyMyTrips’s profits to down by 13% to Rs 33.92 crore in the same period.

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