Prosus increases stake in Ixigo, marks first investment in a listed Indian Company
This stake acquisition comes in addition to the 10.1% stake that Ixigo announced it would issue to Prosus on a preferential basis for approximately Rs 1,296 crore at Rs 280 per share.
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Dutch investment firm Prosus has acquired an additional 5.06% stake in Le Travenues Technology, the parent company of online travel aggregator Ixigo, through off-market transactions. The shares were purchased from existing shareholders — Elevation Capital (1.9%) and Peak XV Partners (3.16%) — according to media reports.
This stake acquisition comes in addition to the 10.1% stake that Ixigo announced it would issue to Prosus on a preferential basis for approximately Rs 1,296 crore at Rs 280 per share.
As part of the deal:
Peak XV Partners sold its 3.16% stake for Rs 399 crore.
Elevation Capital sold 3.27% for about Rs 438 crore, and now retains roughly 2.4% in Ixigo.
This marks Prosus’ first investment in a listed Indian company, signaling a strategic shift in its investment focus. It is also the firm’s second major investment in a new-age Indian tech company this year, following its involvement in Rapido.
In September, reports indicated that Prosus was in advanced discussions to invest around ₹1,750 crore in Rapido, where it currently holds a 3–4% stake. The firm is now reportedly looking to expand its ownership in the ride-hailing startup.
Prosus’ renewed interest in Rapido is attributed to the startup’s rapid growth, which has outpaced rivals Ola and Uber, as well as its diversification into verticals like food delivery — a move that has bolstered its revenue potential and appeal to investors.
