₹1296 Crore Ixigo Fundraising Plans in Focus: MIH Investments to Acquire Over 10% Stake

Le Travenues Technologies Ltd., the parent company of travel aggregator Ixigo, has announced plans to raise ₹1,296 crore through a preferential issue of equity shares. This fundraising marks a key milestone for the company and is expected to fuel its next phase of growth and expansion in the travel technology space.

Key Details of the ₹1,296 Crore Ixigo Fundraising Plans

Through this deal, MIH Investments One B.V., part of Prosus, will acquire a 10.1% stake in the company. The issue price of ₹280 per share comes at a 10% discount to the market price, signaling Prosus’s long-term confidence in Ixigo’s business model and growth potential.

How Will the ₹1,296 Crore Ixigo Fundraising Plans Help Drive Business Growth?

Le Travenues Technologies has outlined a balanced allocation strategy, ensuring funds are used for both organic and inorganic expansion:

• Organic Growth:Development of AI-based travel platforms and expansion of Ixigo’s hotel segment.
• Inorganic Growth:Exploring strategic acquisitions to strengthen Ixigo’s market position.
• Working Capital: Supporting daily operations and liquidity needs.
• General Corporate Purposes:Enhancing overall business flexibility and efficiency.

The company aims to utilise the funds dedicated to organic growth by December 31, 2028, reflecting a long-term commitment to innovation and expansion.

Market Response to Ixigo Fundraising Plan

Following the announcement, ixigo share price surged 6%, closing at ₹312.50 on Thursday. Over the past month, the stock has gained nearly 4%. The strong investor response highlights growing confidence in Ixigo’s brand strength and strategic vision.

Read more: Ixigo, Zomato, and Nykaa Among Top NIFTY India Internet Stocks Outperforming the Broader Market in FY25.

Conclusion

The ₹1,296 crore preferential issue marks a major strategic move for Ixigo and its parent company. With the backing of Prosus, a leading global technology investor, Le Travenues Technologies is poised to accelerate its AI innovation, expand in the hospitality space, and strengthen its position as one of India’s top travel aggregators.

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