Le Travenues Technology Share Price Jumps 11% On Friday; Here's Why

Indian equity benchmarks traded higher on Friday, with the benchmark Nifty 50 index gaining 163.95 points, or 0.71 per cent, to 23,325.55. Amid the broader market strength, Le Travenues Technology (Ixigo) share price jumps 11.11 per cent to Rs 176.48, emerging among the Top Gainers during the session.

Ixigo Volume Spike Signals Strong Buying Interest

The stock witnessed strong trading activity during the session, with approximately 64 lakh shares changing hands.

This was significantly higher than the stock's 20-day average trading volume of around 21.6 lakh shares, implying that trading activity was nearly three times the recent average volume, reflecting heightened investor participation.

Brevistay Acquisition Remains In Focus

Investor attention remains focused on Ixigo's recently announced acquisition of a majority stake in Brevistay Hospitality Private Limited.

The company will acquire a 54.66 per cent stake in Brevistay for a total consideration of Rs 65.69 crore, following which Brevistay will become a subsidiary of Ixigo.

Ixigo Hotel Network To Exceed 10,000 Properties

According to the company, the acquisition will significantly strengthen its hotel business and accelerate direct hotel contracting efforts.

Following the transaction, the combined network of Ixigo and Brevistay will comprise more than 10,000 directly contracted hotels across India, enhancing the company's accommodation offerings across leisure, business, transit and short-stay travel segments.

Strategic Benefits Expected

The company expects the acquisition to create multiple synergies, including expansion of hotel inventory, stronger direct hotel relationships, improved customer experience and enhanced cross-selling opportunities across its rail, flight, bus and hotel businesses.

Ixigo also plans to leverage its AI-powered technology platform and large travel user base to improve hotel discovery, conversions and customer engagement.
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About Brevistay

Founded in 2016, Brevistay is one of India's leading flexible-stay hotel booking platforms. The company pioneered short-duration hotel bookings in India and has built a strong network of hotel partners catering to transit, business, leisure and last-minute accommodation requirements.

About Ixigo

Le Travenues Technology Limited operates India's leading travel platform under the Ixigo brand. The company offers travel booking and planning services across trains, flights, buses and hotels while leveraging artificial intelligence and data analytics to enhance user experience.

Over the years, Ixigo has expanded through acquisitions and strategic investments, strengthening its position in India's fast-growing online travel ecosystem.
Disclaimer: The article is for informational purposes only and not investment advice.