Le Travenues Technology Limited Stake Acquisition Talks

A potential investor is negotiating to acquire a stake of up to 16% in travel-tech company Le Travenues Technology Limited, widely recognised as Ixigo, through both primary and secondary transactions. This information was revealed in a regulatory filing by the company on Tuesday.

In its announcement to the BSE and NSE, Ixigo indicated that it has been informed by a prospective investor who is interested in purchasing shares either directly or via affiliates. Nevertheless, the firm specified that no formal agreements or binding arrangements have yet been finalised.

Details of the Proposed Acquisition

The disclosure included a statement from the investor, indicating that the acquisition would involve both primary and secondary purchases, with the total shareholding, including affiliates, not exceeding 16% due to the company’s planned fundraising efforts and the mentioned secondary transactions.

Rising Investor Interest

This development coincides with heightened interest from investors in Ixigo, particularly following its strong initial public offering (IPO) in June 2024, where the company made a noteworthy entrance onto the stock exchanges. Recently, global asset management firm Schroder Investment Management has increased its ownership in Le Travenues Technology Limited.

Financial Performance Highlights

From a financial perspective, Ixigo has reported impressive figures. For the first quarter of FY26, revenue from operations surged by 72.5% to Rs 314 crore, compared to Rs 182 crore in the same quarter of FY25. Additionally, the company’s net profit saw a year-on-year increase of 27%, climbing to Rs 19 crore in Q1 FY26 from Rs 15 crore in Q1 FY25.

The Implications of the Deal

If the transaction comes to fruition, it could represent one of the most significant movements of secondary shares in Ixigo since its listing. Currently, the company’s shares are trading at Rs 307.8, contributing to a total market capitalisation of Rs 12,012 crore, equivalent to approximately $1.36 billion.