Le Travenues Technology Limited, the parent company of Ixigo, on Friday (October 10, 2025) announced that its board has approved a preferential issue worth Rs 1,295.56 crore to MIH Investments One B.V., a subsidiary of Prosus.
Under this issue, Ixigo will allot 46.27 million equity shares at an issue price of Rs 280 per share (including a premium of Rs 279). Following the allotment, Prosus will hold 10.1% of Ixigo’s post-issue paid-up capital on a fully diluted basis.
The company said the proceeds will be utilized equally across four key areas — organic growth, inorganic expansion, working capital, and general corporate purposes, with Rs 323.89 crore (25%) allocated to each. The funds will be deployed by FY28, focusing heavily on AI-first technology, product development, and strategic acquisitions.
Ixigo plans to invest in new AI platforms, cloud infrastructure, and advanced travel tech to strengthen its hotel OTA business, marketing, and brand recall. The company will also evaluate strategic acquisitions to expand its reach and capabilities.
What is Prosus?
Prosus (MIH Investments One B.V.) is a leading global technology company that invests in high-growth markets, with a significant focus on India, Latin America, and Europe. Its portfolio spans sectors such as e-commerce, food delivery, travel, payments & fintech, and classifieds.
A long-term investor in India with over $8.6 billion capital deployed to date, Prosus was a major investor in Flipkart and Goibibo. Today, it operates PayU in India, and its investment portfolio includes Swiggy, Meesho, Urban Company, and Rapido. Globally, its holdings include Tencent, OLX, iFood, Despegar, and DeliveryHero.
In its statement, Ixigo emphasized, “The dawn of the AI era presents a once-in-a-lifetime opportunity to reimagine our company’s AI-native future. This investment will accelerate our evolution into an AI-powered travel platform that personalizes and simplifies travel for millions of users.”
Prosus will also gain the right to nominate one director to Ixigo’s board as long as it maintains a minimum 10% holding.
Ixigo noted that this capital infusion will enhance its financial resilience, accelerate AI-led transformation, and strengthen its position as a leading player in India’s travel technology ecosystem.
