Le Travenues Technology Limited Secures Major Investment from Prosus
Le Travenues Technology Limited, the parent organization of the travel tech platform ixigo, has disclosed that its board has sanctioned a primary investment from Prosus (MIH Investments One B.V.) via a preferential issue of equity shares. Prosus will contribute Rs 1,295.56 crore (approx. $146 million) for a 10.1% stake in ixigo on a fully diluted basis. This investment reflects a share price of Rs 280 per share, which is marginally higher than the 10-day volume-weighted average price.
ixigo, which debuted on the stock market in June 2024 at Rs 93 per share, has swiftly risen to become one of India’s rapidly growing online travel agencies, especially among next-billion-user travellers. The organization intends to allocate the funds towards organic growth, acquisitions, working capital, and general corporate needs. This collaboration is expected to bolster ixigo’s standing in the online travel market and enhance its long-term growth strategy.
Investment Impact on ixigo and Stakeholder Dynamics
Recently, global asset manager Schroder Investment Management has increased its holdings in Le Travenues Technology Limited, while early investor Elevation has made several partial divestments over recent months.
Financial Performance Overview
In terms of finances, ixigo’s operational revenue skyrocketed by 72.5% to Rs 314 crore in Q1 FY26, contrasting with Rs 182 crore in Q1 FY25. During the same period, the company’s net profit saw a year-on-year rise of 27%, increasing to Rs 19 crore in Q1 FY26 from Rs 15 crore in Q1 FY25.
Prosus: A Global Investor
Prosus is recognized as a global investor and operator that concentrates on technology-driven enterprises across India, Latin America, and Europe. The firm has made investments exceeding $8.6 billion in India in companies such as Flipkart, Goibibo, Swiggy, Meesho, Urban and Company. Recently, Prosus acquired a stake worth Rs 1,968 crore in Rapido from Swiggy through its associate, MIH Investments.