Ixigo to acquire majority stake in Brevistay for Rs 66-cr

The company has also committed Rs 12 crore to two artificial intelligence startups as part of its strategy to strengthen its hotels business and technology capabilities.

The acquisition will include a non-compete fee and, upon completion, Brevistay will become a subsidiary of ixigo. The company will also have the right to acquire the remaining stake in the hotel-booking platform in the future, subject to certain conditions.

Founded in 2016, Brevistay operates a platform that enables users to book hotel rooms for flexible durations, including hourly stays. The company reported an unaudited turnover of Rs 18.1 crore in FY26, compared with Rs 12.23 crore in FY25 and Rs 8.83 crore in FY24.

The transaction is expected to be completed on or before July 31, 2026. With the acquisition, ixigo aims to strengthen its hotels business and expand its accommodation offerings.

In a separate development, ixigo approved an investment of Rs 7.5 crore in Ofintelligence Technologies Pvt Ltd (Proactai) for a 10.34% stake through subscription of compulsorily convertible preference shares.

Proactai, incorporated in May 2024, develops vertical foundational AI models focused on person re-identification and object tracking. The startup reported unaudited revenue of Rs 12.02 lakh in FY26.

The company also approved an investment of Rs 4.5 crore in Forgeurai Systems (Vestra.AI) through subscription of 450,000 fully convertible debentures.

Vestra.AI develops AI operating systems for enterprises, focusing on autonomous AI agent orchestration and workflow automation. The company reported revenue of Rs 1.25 lakh in FY26.

According to ixigo, the investments in Proactai and Vestra.AI will help accelerate development of AI-powered software and strengthen its artificial intelligence capabilities.

All transactions will be executed in cash and are subject to customary closing conditions. The company said none of the deals are related-party transactions.

Le Travenues Technology was founded in 2006 and is an online travel agency (OTA) that enables travelers to book train, flight, and bus tickets as well as hotels via its OTA platforms under the brand name 'ixigo'.

The company's consolidated net profit jumped 91.1% to Rs 31.96 crore on 8.4% rise in revenue from operations to Rs 308.05 crore in Q4 FY26 over Q4 FY25.

The scrip rose 1.63% to end at Rs 155.45 on the BSE on Friday, June 5, 2026.

Powered by Capital Market - Live News