Le Travenues Technology, the parent of travel portal ixigo, is selling a 17.39% stake in its electric bus venture, FreshBus, for Rs 36.6 crore. The deal, expected to conclude by August 30, reduces Le Travenues' holding to 8.27% and removes FreshBus from its associate company list. The company is currently executing a broader strategy involving several new acquisitions in the travel and tech sectors.
Le Travenues Technology, the operator of the popular travel booking platform ixigo, has entered into an agreement to sell a significant portion of its investment in the electric intercity bus startup, FreshBus. The company announced it will sell a 17.39% stake to Twelve Stone LLP for Rs 36.6 crore. The transaction is expected to be completed on or before August 30, 2026.
Impact on Business Structure
The deal involves the sale of 46,264 preference shares at a price of Rs 7,911 per share. Once this transaction is finalized, Le Travenues’ ownership in the electric bus startup will drop from 25.66% to 8.27%. Because of this reduction, FreshBus will no longer be classified as an associate company in Le Travenues’ financial records. This change simplifies the company's financial reporting by removing the need to account for a portion of the startup's losses directly on its own balance sheet.
Financial and Strategic Context
Le Travenues initially invested in FreshBus in October 2022. As of March 31, 2026, the value of this investment on the company's books was Rs 18.87 crore. However, the business also recognized Rs 11.22 crore as its share of FreshBus’s losses during the 2025-26 financial year. By divesting this stake, the company is realizing cash from an asset that was previously contributing to losses in its consolidated results.
This sale aligns with a broader push by Le Travenues to pivot its capital toward other strategic areas. In recent months, the company has been on an acquisition spree. Its Singapore subsidiary acquired a majority stake in the train booking platform Trenes and a share in the AI firm Sqaas. Furthermore, the board has approved the acquisition of Brevistay Hospitality and additional investments in AI companies like Proactai and Vestra.AI. These moves suggest a shift in strategy toward integrating new travel and tech services.
Investor Monitorables
While the company reported an 81% year-on-year jump in consolidated profit after tax to Rs 34.24 crore for the quarter ending June 30, 2026, investors have been keeping a close watch on operational expenses. The company’s EBITDA margins, which stood at 7% for the first quarter of the 2027 fiscal year, have faced pressure due to higher spending on branding and advertising.
Going forward, the key focus for shareholders will be how effectively management integrates these new acquisitions—such as Brevistay and its AI investments—without hurting profit margins. Additionally, while FreshBus will no longer be an associate, Le Travenues will still hold an 8.27% stake, so the future performance of this remaining holding will still be a minor item to track.