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

EntrackrEntrackr · 2m ago
Prosus to acquire 10.1% stake in ixigo for Rs 1,296 Cr
Medial

url: https://entrackr.com/news/prosus-to-acquire-101-stake-in-ixigo-for-rs-1296-cr-10547000 Content: 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.

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Prosus raises Ixigo stake by 5% via secondary transaction

EntrackrEntrackr · 2m 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 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.

Ixigo grants over 2 lakh ESOPs worth Rs 3.78 Cr

EntrackrEntrackr · 5m 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).

Schroders increases stake in Ixigo to 7.18%

EntrackrEntrackr · 3m ago
Schroders increases stake in Ixigo to 7.18%
Medial

Schroders increases stake in Ixigo to 7.18% Global asset manager Schroder Investment Management has increased its stake in Le Travenues Technology Limited, the parent of travel booking platform ixigo. According to a stock exchange filing, Schroders Group entities, acting as discretionary fund managers, acquired additional shares on September 18, 2025. The acquisition was made via the open market in which Schroders bought 41,638 shares of ixigo, increasing its stake by 0.011% to 7.179% from the previous holding of 7.169%. Schroders now has 2,80,28,378 shares of Ixigo. Earlier this year, Elevation Capital offloaded shares worth over Rs 226 crore in a bulk stake sale, realizing a return of approximately 31.6X on its investment. Meanwhile, in that same period, Schroders had picked up an additional 16.6 lakh shares from the open market, pushing its shareholding to 5.176%. Ixigo’s revenue from operations surged 72.5% to Rs 314 crore in Q1 FY26 compared 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. Ixigo’s shares are trading at Rs 278.55 (as of 15:31 PM), giving the online travel aggregator a market capitalization of Rs 10,874 crore.

Flipkart-owned Cleartrip spent Rs 988 Cr to earn Rs 97 Cr in FY24

EntrackrEntrackr · 1y ago
Flipkart-owned Cleartrip spent Rs 988 Cr to earn Rs 97 Cr in FY24
Medial

While all online travel agents (OTAs) including MakeMyTrip, Ixigo, Yatra and EaseMy Trip have been profitable for past several quarters, Cleartrip has recorded over Rs 800 crore loss in the fiscal year ending March 2024, despite achieving 98% year-on-year revenue growth. For background, Cleartrip was acquired by Flipkart in April 2021 for $40 million in a distress sale. Cleartrip’s net revenue from operations grew by 98% to Rs 97 crore in FY24 from Rs 49 crore in FY23, its annual financial statements sourced from the Registrar of Companies show. Focusing on its gross operations, Cleartrip collected Rs 369 crore in service charges from customers and Rs 240 crore in commissions and incentives in FY24. However, the company provided discounts totaling Rs 525 crore on its services and incentives, which was unexpected and brought its net operating revenue down to Rs 97 crore for FY24. This covers the revenue side; now let’s look at the major cash burn for the Flipkart-owned company in FY24. Cleartrip allocated 40% of its total costs to employee benefits in FY24, which surged by 61.3% to Rs 400 crore. This amount includes Rs 180 crore in non-cash ESOP costs. Excluding ESOPs, Cleartrip’s expenditure on salaries and wages stood at Rs 220 crore in the fiscal year ending March 2024. The firm spent Rs 128 crore on advertising and marketing, while its commissions and brokerage costs amounted to Rs 70 crore in FY24. Cleartrip also allocated Rs 91 crore to payment gateway charges, which is notable given that its revenue stood at only Rs 97 crore. Its outsourcing, information technology, legal and other overheads took the overall cost up by 26.7% to Rs 988 crore in FY24 from Rs 780 crore in FY23. See TheKredible for the detailed expense chart. Cleartrip refused to comment on queries sent by Entrackr. The increase in overall cost outpaced the revenue growth which led its losses to increase by 18.4% to Rs 810 crore in FY24, compared to Rs 684 crore in FY23, while its EBITDA margin stood at-399%. In FY24, its expense-to-earning ratio was recorded at Rs 10.1 as compared to Rs 15.9 in the previous fiscal year. On the competition side, MMT reported revenue of $792 million (Rs 6,650 crore) in FY24, along with $216.7 million (Rs 1,820 crore) in profits. Meanwhile, Ixigo, EaseMyTrip, and Yatra have recorded Rs 656 crore, Rs 590 crore, and Rs 448 crore in revenue, respectively.

Potential investor eyes up to 16% stake in Ixigo via primary and secondary acquisition

EntrackrEntrackr · 2m ago
Potential investor eyes up to 16% stake in Ixigo via primary and secondary acquisition
Medial

A potential investor is in talks to acquire up to a 16% stake in travel-tech firm Le Travenues Technology Limited (Ixigo) through primary and secondary transactions, according to a regulatory filing made by the company on Tuesday. In its disclosure to the BSE and NSE, Ixigo said it received an intimation from a potential investor expressing interest in purchasing shares either directly or through its affiliates. However, the company clarified that no definitive agreements or binding arrangements have been executed so far. “The proposed acquisition would be by way of primary and secondary acquisitions, and our aggregate shareholding, including affiliates, pursuant to the company’s proposed fundraise and the aforementioned secondary acquisitions, will not exceed 16%,” the disclosure quoted the investor as saying. The move comes at a time when Ixigo has been witnessing growing investor interest following its successful IPO in June 2024, where the company made a strong debut on the stock exchanges. Recently, Global asset manager Schroder Investment Management has increased its stake in Le Travenues Technology Limited. 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. If the deal materializes, it could mark one of the most significant secondary share movements in Ixigo post-listing.

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