Ixigo: Le Travenues shares in focus today, here's why
The board met on October 10, and cleared the private placement that, if completed, will dilute existing equity by about 10.10 per cent on a fully-diluted post-issue basis.
- Oct 10, 2025,
- Updated Oct 10, 2025 8:57 AM IST
Shares of Le Travenues Technology Ltd are in focus in Friday’s trade after the company’s board approved a preferential allotment that would see ixigo raise up to Rs 1,295.56 crore by issuing 46,270,092 equity shares at an issue price of Rs 280 a share to MIH Investments One B.V. (Prosus).
The board met on October 10, and cleared the private placement that, if completed, will dilute existing equity by about 10.10 per cent on a fully-diluted post-issue basis (including vested, unvested and unallocated ESOPs). The total consideration of Rs 12,955,625,760 corresponds to the 4.62 crore shares at Rs 280 each.
According to the stock-exchange filing, the proceeds will be split evenly across four broad buckets — organic growth, inorganic opportunities, working capital and general corporate purposes — with up to Rs 323.89 crore earmarked for each category. The company said the organic allocation will prioritise “New Artificial Intelligence (AI) Platforms, Products, and Services,” technology and cloud costs, product enhancements for its hotels OTA business and marketing initiatives.
In a Q&A attached to the filing, ixigo framed the raise as a strategic push into AI and scale: “This is the time to double down on our conviction,” the company said, describing a plan to invest in “AI-first, agentic platforms, products and services” and to deepen its hotels stack and brand recall.
The investor, MIH Investments One B.V. — identified in the filing as Prosus’ vehicle — will become a new shareholder with no prior stake. The filing explicitly notes: “The Investor is not a related party to the company.” On completion, the SSA (share subscription agreement) gives the investor the right to nominate one director to ixigo’s board, a right that lapses if its holding (with affiliates) falls below 10 per cent on a fully diluted basis.
The board has convened an extraordinary general meeting on November 1 to seek shareholder approvals required to proceed with the preferential allotment and related amendments to the articles of association.
Shares of Le Travenues Technology Ltd are in focus in Friday’s trade after the company’s board approved a preferential allotment that would see ixigo raise up to Rs 1,295.56 crore by issuing 46,270,092 equity shares at an issue price of Rs 280 a share to MIH Investments One B.V. (Prosus).
The board met on October 10, and cleared the private placement that, if completed, will dilute existing equity by about 10.10 per cent on a fully-diluted post-issue basis (including vested, unvested and unallocated ESOPs). The total consideration of Rs 12,955,625,760 corresponds to the 4.62 crore shares at Rs 280 each.
According to the stock-exchange filing, the proceeds will be split evenly across four broad buckets — organic growth, inorganic opportunities, working capital and general corporate purposes — with up to Rs 323.89 crore earmarked for each category. The company said the organic allocation will prioritise “New Artificial Intelligence (AI) Platforms, Products, and Services,” technology and cloud costs, product enhancements for its hotels OTA business and marketing initiatives.
In a Q&A attached to the filing, ixigo framed the raise as a strategic push into AI and scale: “This is the time to double down on our conviction,” the company said, describing a plan to invest in “AI-first, agentic platforms, products and services” and to deepen its hotels stack and brand recall.
The investor, MIH Investments One B.V. — identified in the filing as Prosus’ vehicle — will become a new shareholder with no prior stake. The filing explicitly notes: “The Investor is not a related party to the company.” On completion, the SSA (share subscription agreement) gives the investor the right to nominate one director to ixigo’s board, a right that lapses if its holding (with affiliates) falls below 10 per cent on a fully diluted basis.
The board has convened an extraordinary general meeting on November 1 to seek shareholder approvals required to proceed with the preferential allotment and related amendments to the articles of association.