Ixigo raises $146 mn from Prosus for hotels expansion

Prosus is picking up a 10.1% stake in the online travel platform Ixigo for Rs 1,290 crore through a preferential issue

Prosus, one of the largest investors in India’s digital economy, is acquiring a 10.1% stake in the listed online travel platform Ixigo through a preferential issue. The firm will invest Rs 1,296 crore ($146 million) directly in the company, and also look to increase its shareholding to 16% through additional public market purchases.

⁠The moves will make Prosus, which is known for its investments in companies like food delivery platform Swiggy and e-commerce platform Meesho, the largest investor in Ixigo. The online travel platform counts venture firms like Peak XV Partners and Elevation Capital as some of its largest shareholders and early backers.

The development comes about over 16 months after the IPO of Ixigo. The company’s share price has shot up nearly 3.5 times since the listing in June 2024, from Rs 93 per share to closing at Rs 313. The market capitalisation of the company now stands at $1.4 billion.

The deal is significant, marking the first investment by Prosus in a listed company in India, as it has, till now, focused on private companies.

It is also its second investment in the travel space. It had earlier incubated Golbibo, which was acquired by MakeMyTrip in 2017. This made Prosus the largest shareholder in MakeMyTrip. In 2019, Prosus swapped its shares in MakeMyTrip for a holding in China’s Ctrip, which it exited last year. ⁠The deal also aligns with Prosus’s global strategy. In May 2025, it acquired Despegar, a leading online travel agency in Latin America, for about $1.7 billion. Despegar operates in over 19 Latin American markets, offering both B2C travel booking and B2B white-label solutions.