MIH Investments Increases Stake in Ixigo to 15%

MIH Investments One B.V., a firm under Prosus, has raised its ownership in Le Travenues Technology Limited, the parent company of the travel platform Ixigo, to 15%. As disclosed by Prosus, this stake was acquired through an off-market transaction, which was confirmed by Startup Superb through the receipt of the disclosure.

Details of the Acquisition

According to sources, Prosus secured a 5.06% fully diluted stake from Peak XV (3.16%) and Elevation (1.9%). Peak XV opted not to comment on this matter, while inquiries directed to Elevation, Ixigo, and Prosus remained unanswered prior to publication.

Previous Investments

This announcement follows Prosus’s investment of Rs 1,295.56 crore (approximately $146 million) in Ixigo, which granted them a 10.1% stake on a fully diluted basis. Reports indicate that Prosus plans to invest an additional Rs 620–660 crore to secure more equity through a secondary transaction.

Strategic Goals in India

With this latest transaction, Prosus’s overall stake in the Gurugram-based travel tech entity is anticipated to approach 15%. This strategy is part of the investor’s broader plans to strengthen its foothold in India, with aspirations to expand its portfolio in the region to around $50 billion over the coming years through a combination of investments and acquisitions.

Recent Financial Performance of Ixigo

On the financial side, Ixigo recorded an impressive 72.5% increase in operating revenue, reaching Rs 314 crore in Q1 FY26, up from Rs 182 crore during the same quarter a year earlier. Furthermore, the company’s net profit rose by 27% to Rs 19 crore in Q1 FY26, compared to Rs 15 crore in Q1 FY25.