ixigo to Raise INR 129.6 Crore from Prosus via Preferential Issue
Travel technology company ixigo is set to raise INR 129.6 crore from Prosus, a global consumer internet group. The funding will be secured through a preferential issue.
This investment signifies a significant development for ixigo as it looks to strengthen its position in the travel technology sector. Prosus’s backing indicates confidence in ixigo’s business model and future growth prospects.
The preferential issue is a method of raising capital by offering shares to specific investors at a predetermined price. This transaction will allow ixigo to inject fresh capital into its operations, potentially for expansion, product development, or strategic initiatives.
Further details regarding the exact use of funds and the implications of this investment for ixigo’s market strategy are expected to be disclosed as the transaction progresses.
Key Points
- INR 129.6 crore to be raised by ixigo from Prosus.
- Funding to be secured via a preferential issue.
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