Prosus to invest Rs 1296 cr in ixigo, pick up 10% stake

NEW DELHI: Global technology investor Prosus (MIH Investments One BV) will invest Rs 1,296 crore to pick up 10.1% in leading online travel agency ( OTA ) ixigo (Le Travenues Technology Ltd) through preferential issue at a share price of Rs 280 per share, a slight premium. In June 2024, ixigo had listed at an issue price of Rs 93 per share.
“The company intends to utilise the proceeds for organic growth opportunities, inorganic growth opportunities, working capital needs and general corporate purposes. Prosus invests in high growth markets, with a significant focus on India, Latin America, and Europe. Its portfolio spans sectors such as e-commerce, food delivery, travel, payments & fin-tech, and classifieds,” ixigo said in a statement.
A long-term investor in India with over $8.6 billion deployed to date, Prosus was a major investor in Flipkart and Goibibo. It operates PayU in India and its investment portfolio includes Swiggy, Meesho, UrbanCompany and Rapido. Its global portfolio includes Tencent, OLX, iFood, JustEatTakeaway and Despegar.