ixigo Secures Rs 1,296 Crore Investment from Prosus
Travel platform ixigo will raise Rs 1,296 crore from Prosus via a preferential issue of equity shares, selling a 10.1% stake. The funds will support organic and inorganic growth and working capital needs.
- Country:
- India
Travel technology platform ixigo is set to bolster its finances with an infusion of Rs 1,296 crore from global technology investor Prosus. The funds will be raised through the issuance of equity shares, representing a 10.1 percent stake in the company.
This strategic investment, detailed in a regulatory filing, confirms that ixigo will sell 4,62,70,092 equity shares to Prosus at Rs 280 per share. The transaction is priced at a slight premium over the 10-day Volume Weighted Average Price (VWAP) of ixigo's shares.
ixigo plans to use the capital to pursue both organic and inorganic growth opportunities alongside meeting working capital demands. Prosus, a significant investor in India, Latin America, and Europe, continues to enhance its diversified portfolio across various high-growth sectors.
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- ixigo
- Prosus
- investment
- equity shares
- travel platform
- technology
- capital
- stake
- market
- share price
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