Notice Brief

On February 13, 2026, Le Travenues Technology Limited, the parent company of ixigo, announced that its wholly-owned subsidiary, IXIGO PTE. LTD., has approved significant international investments. The board approved the acquisition of a 60% stake in Online Travel Solutions, S.L., Spain (operating as ‘Trenes’) for a total consideration of €11.70 million, including non-compete fees. Additionally, the subsidiary will subscribe to 1,296 equity shares of Sqaas, a Spanish AI-enabled technology company, representing a 45.02% post-investment stake. Consequently, Sqaas will become an associate company of Le Travenues Technology Limited.

Detailed Notice Analysis The acquisition of the 60% stake in Online Travel Solutions (Trenes) marks a strategic expansion into the European travel market, with the deal being subject to the completion of procedural and regulatory formalities. The investment in Sqaas, which was incorporated on January 24, 2023, focuses on leveraging their expertise in artificial intelligence-enabled software and related services. Sqaas is an early-stage technology company that reported a revenue of €366,708 for FY 2025, showing growth from €181,746 in FY 2024 and €175,515 in FY 2023. These moves align with ixigo’s broader strategy of integrating AI into its core travel offerings and expanding its footprint beyond the Indian subcontinent.

Company Business and Updates Le Travenues Technology Limited is India’s leading technology-driven Online Travel Agency (OTA), operating popular brands like ixigo, ConfirmTkt, and AbhiBus. The company specializes in helping travelers plan, book, and manage trips across trains, flights, buses, and hotels using proprietary AI-based algorithms. In recent 2025 updates, the company saw a massive surge in bookings during the Maha Kumbh Mela, with bus travel bookings increasing 20-fold YoY. In early 2025, ixigo also deepened its distribution partnership with Amadeus to enhance its flight content offerings. Additionally, the company has successfully integrated its AI assistant ‘TARA’ to handle nearly 90% of customer voice calls during peak disruption periods in December 2025.

Financial Performance and Investors For the quarter ended December 31, 2025 (Q3 FY26), Le Travenues Technology reported its highest-ever quarterly revenue of ₹317.56 Crore, a 31.35% increase from ₹241.76 Crore in the same quarter of the previous year. The consolidated net profit for the same period surged by 56.31% YoY to reach ₹24.26 Crore. This growth was primarily driven by the flight and bus verticals, which saw revenue increases of 49% and 47% respectively. The company attracts significant institutional interest; notably, in late 2025, Dutch global technology investor Prosus increased its stake in the company to 15.16%. Other major investors include Peak XV Partners and Elevation Capital, although they marginally trimmed their holdings during the 2025 preferential issue.