Prosus raises stake in ixigo to 15% as Peak XV, Elevation Capital book gains
The deal comes on the heels of Prosus’s Rs 1,296-crore investment in ixigo earlier this month, made via a preferential issue of equity shares at Rs 280 per share, valuing the company at roughly Rs 12,800 crore.
Global consumer internet group Prosus has increased its holding in Le Travenues Technology, the parent of travel platform ixigo, to roughly 15%, following a combination of primary and secondary share purchases.
MIH Investments One B.V., a Prosus entity, acquired an additional stake through an off-market transaction, buying shares from early investors Peak XV Partners and Elevation Capital.
Prosus bought around 5.06% of ixigo’s fully diluted shares—3.16% from Peak XV and 1.9% from Elevation—for an estimated Rs 620–660 crore.
The deal comes on the heels of Prosus’s Rs 1,296-crore investment in ixigo earlier this month, made via a preferential issue of equity shares at Rs 280 per share, valuing the company at roughly Rs 12,800 crore. That round gave Prosus a 10.1% stake on a fully diluted basis.
Following the latest purchase, Prosus’s total investment in the Gurugram-based travel-tech firm is expected to exceed Rs 1,900 crore, reflecting its continued bet on India’s digital and AI-driven consumer platforms.
The move is also in line with Prosus’s stated goal of expanding its India portfolio to about $50 billion over the next few years through a mix of new investments and acquisitions.
Peak XV, which offloaded 13 million shares, confirmed the sale in a regulatory filing dated October 14, showing its stake fell from 9.54% to 6.38% on a fully diluted basis.
Elevation Capital, formerly SAIF Partners, has steadily pared its stake in ixigo through multiple secondary transactions this year.
In May 2025, the firm sold 2.15 million shares for Rs 178 apiece, netting a 25X return on its initial investment of Rs 7.14 per share.
In June 2025, it offloaded another 5.4 million shares for Rs 97.4 crore at Rs 180.5 per share, with Schroder’s Asian Total Return Fund emerging as the buyer.
ixigo, which went public in June 2024 at Rs 93 per share, has become one of India’s fastest-growing online travel agencies, targeting price-conscious and regional-language users.
For the June 2024 quarter (Q1 FY25), the company reported a 73% year-on-year surge in operating revenue to Rs 314 crore, while net profit rose 28% to Rs 19.08 crore.
Edited by Kanishk Singh