Coronation Fund Managers Ltd, a South Africa-based asset manager, has recently increased its stake in Le Travenues Technology Limited, the parent company of Ixigo, an online travel platform. This move comes as Coronation acquired 1,83,322 equity shares of Le Travenues in the open market, surpassing the 5% ownership threshold.
Prior to this transaction, Coronation held 4.99% of Ixigo’s equity share capital, which rose to 5.03% post-acquisition. Additionally, Prosus has raised its stake in Ixigo to around 15% through an off-market transaction, acquiring stakes from Peak XV and Elevation.
Another significant development is Ixigo’s decision to acquire a 60% majority stake in Spain-based Trenes, an online train ticketing platform, with the option to purchase the remaining stake later. This strategic move is valued at roughly Rs 125 crore, positioning Trenes as an Ixigo step-down subsidiary.
Financially, Ixigo reported a revenue increase to Rs 317.6 crore in Q3 FY26, up from Rs 242 crore in the same period last fiscal year. The company also saw a 55% profit growth to Rs 24 crore during this time frame.
With Ixigo’s shares trading at Rs 164.4 and a market capitalization of approximately Rs 7,148 crore ($786 million), the company’s growth trajectory and strategic investments are closely watched by industry observers for their potential impact on the online travel tech sector.
Source: Entrackr : Latest Posts