ixigo’s board has approved to acquire 54.66% stake in Brevistay for a ₹65.69 Cr ($6.9 Mn) through a combination of secondary and primary share purchase deals
The company will also get the right to purchase the remaining stake in the future subject to fulfilment of certain conditions
Additionally, ixigo’s board also approved two more investments in Proactai and Vestra.AI, respectively
Listed traveltech giant ixigo’s board has approved to acquire 54.66% stake in traveltech startup Brevistay (Brevistay Hospitality Pvt Ltd) for a ₹65.69 Cr ($6.9 Mn) through a combination of secondary and primary share purchase deals.
Post the acquisition, ixigo
said Brevistay will become a subsidiary of the traveltech platform. The company will also get the right to purchase the remaining stake in the future subject to fulfilment of certain conditions. Its turnover for the fiscal year FY26 zoomed 48% YoY to ₹18.1 Cr.
Previously, the startup’s institutional funding was led by the Indian Angel Network (IAN), which invested ₹3 Cr in Brevistay’s 2022 seed round.
Competing with the likes of Zostel and OYO, Brevistay allows users to book hotel rooms on an hourly basis (slots of 3, 6, or 12 hours) rather than paying for a full 24-hour stay. It operates in over 200 cities, including major hubs like Delhi, Mumbai, and Bengaluru.
ixigo aims to strengthen its online hotel booking business via the acquisition of Brevistay. The investment is set to be completed on or before July 31.
Founded in 2016 by Prateek Singh, Nikhil Pathak, Aditya Naithani and Shubham Agarwal, Brevistay provides an online platform for its users to book hotel rooms for flexible durations.
Additionally, ixigo’s board also approved two more investments, which will be completed by July 5:
This adds on to ixigo’s acquisition spree this year. Earlier, the company bought 60% stake in Trenes for €11.7 Mn (about ₹125 Cr), and 45.02% stake in Sqaas for €450K (₹4.8 Cr) in March.
On the financial front, the OTA’s consolidated net profit for the fourth quarter of FY26 zoomed 91% to ₹32.1 Cr from ₹16.8 Cr in the previous year quarter. Operating revenue increased 9% to ₹308 Cr in Q4 FY26 from ₹284.1 Cr in the year-ago quarter.
During its fourth quarter results, the management said ixigo remains open to further acquisitions while continuing to invest in AI infrastructure, hotels and adjacent travel categories.
Shares of ixigo ended the day 1.6% higher at ₹155.45 apiece on the BSE.
Source: Inc42 - Startups
