Ixigo has agreed to sell a 10.1% stake to Prosus NV in a deal worth $146 million, just over a year after the online travel platform went public. Following the announcement, Ixigo’s share price declined. Le Travenues Technology Ltd., the listed entity co-founded by Aloke Bajpai and Rajnish Kumar, approved the issuance of 4.62 crore shares at ₹280 each to Prosus’ unit MIH Investments One BV via private placement, according to an exchange filing.
The deal values the stake at approximately ₹1,295.56 crore. Ixigo plans to use the proceeds in four equal parts: for organic growth focused on AI, technology, product development, and marketing by December 2028; inorganic growth through acquisitions and strategic investments by March 2028; working capital to support expansion of its over-the-air business by March 2027; and general corporate purposes, including administration and capital expenditure, by March 2028.
Prosus will gain the right to appoint one director to Le Travenues Technology’s board, contingent on maintaining a minimum 10% stake. Ixigo sees this fundraising as crucial to boosting its AI-driven strategy and enhancing its brand to compete with players like MakeMyTrip and EasyTrip. An extraordinary general meeting is scheduled for November 1, 2025, to seek shareholder approval.
