ixigo sells Freshbus stake for ₹36.59 crore, ends associate ties
What's the deal? ixigo, operating under Le Travenues Technology Limited, is selling a 17.39% stake in Freshbus Private Limited to Twelve Stone LLPDealroom has a profile for this one. Try Dealroom → for ₹36.59 crore in cash. The share purchase agreement, dated August 13, 2026, cuts ixigo's holding from 25.66% to 8.27%.
What changes? Once the sale closes, Freshbus will no longer be an associate company of ixigo. The deal covers 46,264 compulsorily convertible preference shares at ₹7,911 each, totalling ₹365,994,504.
Who's buying? Twelve Stone LLP's designated partners include Sudhakar Reddy Chirra, founder and managing director of Freshbus, and Sasya Chirra. ixigo said the transaction does not fall within the scope of related party transactions.
Why now? ixigo first invested in Freshbus on October 28, 2022. The sale is expected to complete on or before August 30, 2026.
The signal: The move sees ixigo shed a controlling associate position while retaining a minority holding, handing greater ownership to Freshbus's founder and his co-partner.
Read more: Investywise
Image credit: Terry Wha
