South Africa-based Coronation Fund Managers has increased its stake in Le Travenues Technology, the parent of travel platform ixigo, crossing the 7% ownership mark through an open market transaction.
Stake Increase Details
As per a regulatory filing with the Bombay Stock Exchange (BSE) dated April 1, 2026, Coronation acquired 4.75 lakh equity shares on March 30, 2026.
- Previous holding: 3.02 crore shares (6.90%)
- Post-acquisition: 3.07 crore shares (7.01%)
This marks Coronation’s second stake increase in recent months, after raising its holding to around 5% in February 2026.
Institutional Confidence Builds
The latest move signals growing institutional confidence in ixigo’s growth trajectory. Notably, MIH Investments One B.V., a subsidiary of Prosus, had earlier increased its stake to around 15% in the company.
Coronation acts as a discretionary fund manager for multiple global funds, which were also listed as persons acting in concert (PAC) in the filing.
Strong Financial Performance
On the financial front, ixigo has shown solid growth momentum:
- Revenue: ₹317 crore in Q3 FY26 (vs ₹242 crore in Q3 FY25)
- Profit: ₹24 crore, up 55% YoY
The company’s improving profitability and steady revenue growth appear to be driving investor interest.
Market Position
As of the latest trading data, ixigo’s shares were priced at ₹165.02, giving it a market capitalisation of approximately ₹7,255 crore (~$797 million).
With rising digital adoption in travel bookings and strong backing from institutional investors, ixigo continues to strengthen its position in India’s competitive online travel aggregation market.
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