Ixigo To Raise Rs 1,296 Crore Via Preferential Issue For Growth And Expansion

Ixigo's parent, Le Travenues Technology Ltd.'s board has approved a Rs 1,296 crore fundraise through a preferential share issue, the company informed the exchanges on Friday.

“The board of directors of Le Travenues Technology Ltd. (Ixigo) at its meeting held today, i.e., October 10, 2025, inter-alia, considered and approved,” the issue.

The company will issue 4.6 crore shares at Rs 280 apiece, with proceeds earmarked for AI and tech investments, acquisitions, working capital, and general corporate purposes. MIH Investments One B.V., managed by Prosus, will hold a 10.1% stake post-issue.

The company informed the exchanges that, Up to 25% of the proceeds (i.e. up to Rs 323.89 Crores) are proposed to be utilised towards organic growth initiatives for the company's business and shall include expenditure on new Artificial Intelligence platforms, products, and services, including their research and development expenditure, technology & other related costs including cloud infrastructure and software expenditure. The company has set the timeline for the sue of these funds as December 31, 2028.

Meanwhile, another 25% of the proceeds is proposed to be utilised towards unidentified acquisitions and inorganic growth opportunities, directly by the company or through its subsidiaries, including without limitation, by way of mergers, takeovers, acquisition by slump sale, acquisition of any business undertaking on going concern basis, setting up joint ventures, strategic investments etc. Funds for this purpose will be utilised by March 31, 2028.

The company mentioned that out of the total amount, 25% of the proceeds are  proposed to be utilised towards meeting the working capital requirements. And, the remaining 25% of the proceeds is proposed to be utilised towards, inter alia, meeting ongoing general corporate exigencies and contingencies, rental payments and administrative expenses, employee and other personnel expenses by March 31, 2028.