Global Investor Prosus Infuses Rs 1,296 Crore into Travel Platform ixigo
Travel aggregator ixigo secures Rs 1,296 crore investment from global tech investor Prosus via equity shares. Ixigo plans to use funds for organic and inorganic growth, focusing on AI, technology, and OTA business expansion. Prosus holds a 10.1% stake in ixigo post-investment.
- Country:
- India
Travel booking platform ixigo has announced a major financial boost, securing Rs 1,296 crore from global technology investor Prosus through a preferential issue of equity shares.
The deal, approved by ixigo's board, involves the sale of a 10.1 per cent stake to MIH Investments One B.V., a Prosus affiliate, in exchange for Rs 1,295.56 crore (USD 146 million). This investment, at Rs 280 per share, represents a slight premium over ixigo's recent Volume Weighted Average Price.
ixigo plans to utilize the investment for growth opportunities, including AI developments, technology enhancements, expansion of its hotel OTA business, and potential acquisitions. Prosus continues its strategic investment in high-growth markets like India, with ixigo representing its latest venture in the travel sector.
(With inputs from agencies.)
Google News