ixigo To Consider Raising Fresh Funds

SUMMARY

ixigo’s board will consider, evaluate, and approve a proposal for fund raising by issuance of securities through QIP, preferential issue, or any other method

ixigo also said it has received intimation from a potential investor to acquire up to 16% stake in the company

The investor said that it or its affiliates will acquire shares of ixigo parent Le Travenues Technology by way of secondary acquisitions

The board of travel tech company ixigo’s parent Le Travenues Technology will meet tomorrow to consider raising an unspecified amount of funds via issuance of securities.

In an exchange filing, the company said that its board will “consider, evaluate, and approve a proposal for fund raising by way of issuance of securities through one or more permissible modes, including but not limited to a qualified institution’s placement, preferential issue, or any other method…”

In a separate exchange filing, the company said that it has received intimation from a potential investor to acquire up to 16% stake in ixigo.

“… we propose to acquire, either by ourselves or through our affiliates, certain shares in Le Travenues Technology Limited by way of secondary acquisitions. As on the date hereof, no definitive agreements or binding arrangements for such proposed acquisitions have been executed by us,” the unnamed investor informed ixigo.

The investor added that its shareholding, including that of its affiliates, will not exceed 16% shareholding in the company post the transaction.

Currently, ixigo cofounders Aloke Bajpai and Rajnish Kumar together own a 12.4% stake in the company. While domestic mutual funds held a 10.4% stake in the company at the end of the June quarter, foreign investors accounted for 56.9% of the stake.

Bay Capital Holdings, Malabar India Fund, Saif Partners India IV, Gamnat, Peak XV Partners, Nomura Funds, Steadview Capital, and Schroders are among the foreign investors who own stakes in the company.

While Schroders increased its stake in the company to 7.18% last month, Elevation Capital offloaded a 2.59% stake in July.

On the financial front, ixigo’s net profit jumped 27% YoY to INR 18.9 Cr in Q1 FY26. Revenue from operations zoomed 73% YoY to INR 314.5 Cr.

The company’s shares have surged on the back of this strong financial performance. The stock is up about 74% year to date.

The shares were trading about 6.1% higher at INR 313 on the BSE at 15:00 IST.