Overview

• Ixigo’s board cleared a preferential allotment of 46,270,092 shares at Rs 280 each, targeting a raise of about Rs 1,296 crore.
• MIH Investments One B.V. will become a new shareholder with a 10.1% post-issue stake and the right to nominate one director while holding at least 10%.
• Proceeds are split evenly, with up to Rs 323.89 crore each for AI and platform R&D, acquisitions, working capital, and general corporate purposes.
• The company set deployment timelines of Dec. 31, 2028 for the AI/R&D bucket and Mar. 31, 2028 for acquisitions and general corporate uses.
• Management signaled a near-term focus on expanding the hotel-booking business, with an extraordinary general meeting on Nov. 1 to seek shareholder approvals.