Ixigo 2.0: from aviation aggregator to full-fledged mobility player

When Ixigo listed on the stock exchanges in mid-2024 at Rs 93 per share, few would have imagined that within a year the Gurugram-based travel technology company would command nearly three times that value and catch the attention of one of the world’s most experienced technology investors. Last week, Prosus NV, the Netherlands-based investment giant known for its big bets on the consumer internet space in India, announced a Rs 1,296-crore investment in Ixigo for a 10.1% stake through a preferential allotment. The deal, which values ​​Ixigo at over Rs 12,800 crore, marks Prosus’s first investment in an Indian listed company and signals a strong vote of confidence in the next phase of India’s online travel story.

For Ixigo, this capital infusion is set to accelerate what insiders call its “Ixigo 2.0” journey — from being an airline ticket aggregator to becoming a full-fledged player in the mobility space. Over the past few years, Ixigo has built an integrated ecosystem spanning flights, trains and bus bookings, supported by acquisitions such as ConfirmTkt and Abhibus. Unlike competitors who rely heavily on partnerships, Ixigo owns the core technology stack – enabling it to control pricing, user experience and data analytics across travel modes.

“While MakeMyTrip remains the platform of choice for premium urban customers, Ixigo has created a completely different market segment,” says Akash Agrawal, Head, Digital & New Age, Anand Rathi IB. “Its operational execution was exceptional – the speed and way the products were rolled out across modes was exceptional. This is what makes Ixigo a strong execution story,” he added.

While MakeMyTrip still dominates flights and hotels, Ixigo has deliberately moved away from the hotel business — a capital-intensive sector that requires purchasing inventory up front. Instead, it has focused on scalable, asset-light ticketing in air and rail travel, where the strength of its execution is delivering results.

Analysts believe that the opportunity ahead of us is enormous. “We are still at the beginning stage in the travel and ticketing space,” says another expert. “The market is expanding across categories – from trains to experiential travel with strong tailwinds and without significant headwinds.”

For Brosus, the rationale is simple: a value-based bet on the growth story. With a proven track record, deep reach in Bharat, and a sector poised for exponential growth, Ixigo 2.0 seems well-positioned to redefine the map of digital mobility in India.