ixigo is raising capital from Prosus through a preferential issue on a private placement basis to fuel its growth
MIH Investments One B.V will hold a 10.1% stake in the company post the fundraise
ixigo plans to deploy the freshly raised capital for organic growth opportunities, inorganic growth opportunities, working capital requirement, and general corporate purposes.
Listed travel tech major ixigo
is raising INR 1,296 Cr (around $145.9 Mn) from Prosus through a preferential issue on a private placement basis to fuel its growth.
In an exmodify filing, ixigo declared that its board approved an allotment of 4.62 Cr equity shares to Prosus’ wholly owned subsidiary MIH Investments One B.V. The subsidiary will hold 10.1% stake in ixigo post the fundraise.
ixigo plans to deploy the freshly raised capital for organic growth opportunities, inorganic growth opportunities, working capital requirement, and general corporate purposes. The company declared it would utilise 25% of the total capital raised for each of the aforementioned heads.
This comes a couple of days after ixigo informed the exmodifys that it received an intimation from a potential investor to acquire up to 16% stake in the company.
(The story will be updated soon)
Leave a Reply