Dutch technology investor Prosus is acquiring a 10% stake in Ixigo’s parent company, Le Travenues Technology, for $146 million (Rs 1,296 crore), per an announcement on Friday.
Ixigo, an Indian online travel booking platform, plans to raise the aforementioned amount through a preferential issue of equity shares, priced at Rs 280 per share, a 10.5% discount to Ixigo’s closing price on Thursday.
In a filing to the Bombay Stock Exchange, Ixigo said it will use up to 25% of the proceeds towards organic growth initiatives, including the development of new AI platforms and related R&D, investment in technology and cloud infrastructure, enhancement and expansion of the hotels OTA business, and marketing efforts such as advertising, branding, and customer promotions.
The company will also allocate funds towards acquisitions and inorganic growth opportunities, either directly or through its subsidiaries, as well as to meet working capital needs and for general corporate purposes.
“We believe that our company is at an inflection point in fulfilling its vision of building the best customer experience for travellers, and the immediate opportunity is to invest deeply in emerging agentic AI capabilities, solidify our presence in hotels, build top-of-mind brand recall, and accelerate our growth through judicious investments in new AI platforms, products and services,” Ixigo said in the filing.
“User choices and interaction modes will evolve rapidly, creating new behaviours and expectations when it comes to product experiences. The next few years will define the new category leaders, and changes in market structures will be governed by one’s willingness to invest in the AI-native product discovery, as well as one’s pace of evolution in building on bleeding-edge emerging AI platforms,” it added.
On the financial front, Ixigo’s revenue from operations jumped 72.5% year-on-year to Rs 314 crore in Q1 FY26, up from Rs 182 crore in Q1 FY25. Net profit also rose 27% during the same period, reaching Rs 19 crore compared to Rs 15 crore in Q1 FY25.
Prosus (MIH Investments One B.V.) is a leading global technology company that invests in high-growth markets, with a significant focus on India, Latin America, and Europe. Its portfolio spans sectors such as e-commerce, food delivery, travel, payments and fintech and classifieds.
A long-term investor in India with over $8.6 billion capital deployed to date, Prosus was a major investor in Flipkart and Goibibo. Today, it operates PayU in India, and its investment portfolio includes Swiggy, Meesho, Urban Company and Rapido. Its global portfolio includes Tencent, OLX, iFood, Despegar and DeliveryHero.
