Prosus to invest Rs 1,296 crore in travel platform ixigo for 10.1% stake

Travel platform ixigo (Le Travenues Technology Limited) on Friday announced that its board has approved a primary investment from investment firm Prosus (MIH Investments One B.V.) via a preferential issue of equity shares.

The investment, subject to shareholder approval, totals ₹1,295.56 crore (US $146 million) for a 10.1% stake in ixigo on a fully diluted basis. This values each share at ₹280, a slight premium over the 10-day Volume-Weighted Average Price (VWAP) of ixigo on the relevant transaction date.

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On Friday, ixigo’s shares were trading around ₹316 each, giving the company a market capitalization of ₹12,370 crore.
The company plans to use the investment proceeds for organic growth, inorganic growth, working capital, and general corporate purposes:

• Up to 25% (₹323.89 crore) for organic growth, including investments in new AI platforms and services.
• Up to 25% for inorganic growth and potential acquisitions.
• Up to 25% for working capital requirements.
• Up to 25% for general corporate needs and contingencies.

On the financial side, ixigo’s revenue from operations jumped 72.5% to ₹314 crore in Q1 FY26, up from ₹182 crore in Q1 FY25. Its net profit rose 27% year-on-year to ₹19 crore from ₹15 crore in the same period last year.

Prosus is a global investor and operator focused on technology-led businesses across India, Latin America, and Europe. In India alone, it has invested over $8.6 billion in companies including flipkart, Goibibo, Swiggy, meesho, and Urban Company.

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