Le Travenues Technologies Ltd., the parent company of travel platform Ixigo, has unveiled plans to raise ₹1,296 crore through a preferential issue of equity shares, marking a major milestone in its growth journey. The investment underscores strong institutional confidence in Ixigo’s long-term vision and its growing influence in the travel technology sector.
Deal Highlights: MIH Investments to Acquire Over 10% Stake
Under the fundraising plan, MIH Investments One B.V., a subsidiary of global technology investor Prosus, will acquire a 10.1% equity stake in Ixigo. The company will issue 4.62 crore equity shares at ₹280 per share, representing a 10% discount to the prevailing market price.
| Aspect | Details |
| Issuer | Le Travenues Technologies Ltd. |
| Investor | MIH Investments One B.V. (Prosus unit) |
| No. of Shares | 4.62 crore equity shares |
| Issue Price | ₹280 per share |
| Total Fundraise | ₹1,296 crore |
| Equity Stake | 10.1% |
| Discount | 10% to closing price |
The preferential allotment is seen as a strategic endorsement of Ixigo’s strong fundamentals, robust user base, and technology-driven growth model.
Fund Utilisation and Strategic Growth Plans
The proceeds from the ₹1,296 crore fundraising will be channelled into multiple growth initiatives, focusing on both organic and inorganic expansion:
- Organic Growth: Further development of AI-driven travel solutions and expansion of Ixigo’s hotel and accommodation business.
- Inorganic Growth: Pursuing selective acquisitions to reinforce Ixigo’s competitive position in the travel ecosystem.
- Working Capital: Strengthening liquidity and ensuring smoother operational cycles.
- General Corporate Purposes: Supporting overall business efficiency and long-term sustainability.
Ixigo plans to utilise funds earmarked for organic initiatives by December 31, 2028, demonstrating its long-term commitment to innovation, scalability, and user experience enhancement.
Summary
Ixigo’s ₹1,296 crore preferential issue — led by Prosus’s MIH Investments — will give the global investor a 10.1% stake in the company at a ₹280 per share issue price. The capital infusion will fuel Ixigo’s next growth phase, enabling AI-driven innovation, market expansion, and potential acquisitions, positioning the company for stronger growth in India’s rapidly evolving travel-tech landscape.
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