Prosus, a global technology company, is to acquire a 10.10% stake in online travel firm ixigo (Le Travenues Technology) for ₹1,296 crore.
The investment will be made via a preferential issue and is priced at ₹280 per equity share. The transaction is at a 10.2% discount over the stock’s last closing price.
Prosus will have the right to appoint a director on the ixigo board.
The company will use the funds to invest in artificial intelligence (AI) and fuel its hotel vertical, among others. ixigo will also use the funds to expand supply in the hotel business. ixigo will also use the funds for organic and inorganic growth opportunities, as well as for working capital and general corporate purposes.
“We believe that our company is at an inflection point in fulfilling its vision of building the best customer experience for travellers and the immediate opportunity is to invest deeply in emerging agentic AI capabilities, solidify our presence in hotels, build top-of-mind brand recall and accelerate our growth through judicious investments in new AI platforms, products and services,” ixigo said in its filing.
Prosus, a major global investor with over $8.6 billion deployed in India, has a long history in the travel and internet ecosystem. It was an early backer of Goibibo and a key investor in Flipkart.
Today, it operates PayU in India, and its investment portfolio includes Swiggy, Meesho, Urban Company and Rapido. Globally, it has stakes in Tencent, OLX, iFood, Just Eat Takeaway, and Despegar.
