Le Travenues Technology Limited (Ixigo) has approved a ₹65.69 crore acquisition of a 54.66% stake in hourly hotel booking platform Brevistay. Concurrently, the company is investing ₹12 crore across two artificial intelligence firms, Proactai and Vestra.AI, to expand its core engineering and automation software capabilities.
MUMBAI — Le Travenues Technology Limited, widely known as Ixigo, announced on June 5, 2026, that its board of directors has approved three strategic investments totaling ₹77.69 crore. The transactions include acquiring a majority stake in the flexible-duration hotel booking platform Brevistay Hospitality Private Limited, alongside smaller equity and debt investments in artificial intelligence startups Ofintelligence Technologies (Proactai) and Forgeurai Systems (Vestra.AI). This aggressive capital deployment, disclosed during a late-evening board meeting, marks a major push by the Gurugram-headquartered travel tech company to scale its domestic hospitality footprint and fast-track its proprietary AI-powered software research.
Ixigo Secures Controlling Stake in Hourly Hotel Provider Brevistay
The largest portion of the capital allocation involves Ixigo acquiring a 54.66% controlling stake in Brevistay Hospitality Private Limited for a total consideration of ₹65.69 crore, which includes a non-compete fee. The acquisition will be executed through a combination of primary and secondary share purchases. Upon completion, Brevistay will officially operate as a subsidiary of Ixigo, though the parent company retains a contractually specified right to purchase the remaining stake in the future under certain conditions.
Brevistay operates an online travel agency (OTA) platform via its website and mobile application, specializing in flexible, hourly hotel room bookings. According to regulatory filings, Brevistay's unaudited turnover for the financial year ending 2026 stood at ₹18.10 crore, reflecting steady upward growth from ₹12.23 crore in FY25 and ₹8.83 crore in FY24. Ixigo aims to finalize this acquisition on or before July 31, 2026.
Artificial Intelligence Portfolio Expansion via Proactai and Vestra.AI
Beyond the hospitality sector, Ixigo's board approved two simultaneous technology investments aimed at accelerating the company's autonomous systems and data processing tools.
Ofintelligence Technologies (Proactai)
Ixigo will invest ₹7.50 crore into Ofintelligence Technologies Private Limited, operating under the brand name Proactai. The investment is structured as a subscription to 2,394 Compulsorily Convertible Preference Shares (CCPS), which will award Ixigo a 10.34% stake in the company on a fully diluted basis. Proactai is an information technology firm focused on building a vertical foundational model for person re-identification and object tracking. Incorporated in May 2024, the startup recorded an unaudited revenue of ₹12.02 lakh for FY26.
Forgeurai Systems (Vestra.AI)
The third transaction involves a ₹4.50 crore debt-to-equity hybrid investment in Forgeurai Systems Private Limited, known commercially as Vestra.AI. Ixigo will subscribe to 450,000 Fully Convertible Debentures (FCDs) with a coupon rate of 0.01% and a face value of ₹100 each. Vestra.AI develops custom artificial intelligence operating systems for businesses, specializing in autonomous AI agent orchestration and workflow automation. The startup recorded a revenue of ₹1.25 lakh for FY26. Both AI-focused transactions are targeted for completion on or before July 5, 2026.
Technical and Regulatory Framework of the Transactions
Ixigo confirmed that all three transactions were cleared in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosures match guidelines set in the updated SEBI Master Circular dated January 30, 2026.
Because Ixigo is a professionally managed firm without an identifiable promoter or promoter group under SEBI and the Companies Act, 2013, none of the transactions fall under related party transactions, meaning they were conducted entirely at arm's length.
Official Sources Section
The corporate notifications regarding these acquisitions were formalized by Suresh Kumar Bhutani, Group General Counsel, Company Secretary, and Compliance Officer for Le Travenues Technology Limited. The administrative board meeting commenced at 6:30 P.M. IST and concluded at 7:25 P.M. IST on June 5, 2026. Following the disclosure of unpublished price-sensitive information, the company announced that its internal trading window for designated persons will officially reopen on June 8, 2026. Documentation has been submitted directly to the National Stock Exchange of India Limited and BSE Limited.
Executive Statements
"The board of directors considered and approved the acquisition of a 54.66% stake in Brevistay Hospitality Private Limited to strengthen the online hotel booking business," stated Suresh Kumar Bhutani, Group General Counsel and Company Secretary of Ixigo, in the statutory stock exchange filing. "The proposed investments in Proactai and Vestra.AI will enable the companies and Ixigo to further harness their AI capabilities and accelerate the research and development of AI-powered software and related technologies."
Why It Matters
For everyday consumers and travelers, Ixigo’s majority acquisition of Brevistay implies that flexible, micro-stay hotel bookings will likely become native features within the main Ixigo app ecosystem. As remote work and flexible travel options remain popular, booking rooms for specific hourly blocks rather than rigid 24-hour cycles offers significant cost savings.
For retail investors and market analysts, the twin investments in Proactai and Vestra.AI indicate that Ixigo is looking beyond simple travel aggregation. By backing core computer vision (object tracking) and autonomous AI workflows, the firm is positioning itself to deploy hyper-personalized travel itineraries and automated customer service layers powered by proprietary backend technology.
Key Facts at a Glance
Total Allocation: Ixigo has authorized an aggregate capital deployment of ₹77.69 crore across hospitality tech and corporate AI developers.
Control of Brevistay: The 54.66% stake turns Brevistay into an Ixigo subsidiary, with a future provision to acquire the remaining 45.34% equity.
No Regulatory Obstacles: Ixigo reported that no external governmental or regulatory approvals are required to finalize any of the three deals.
Cash Funded: The investments in Brevistay, Proactai, and Vestra.AI are being settled via direct cash considerations rather than share swaps.
FAQ Section
How will the Brevistay acquisition affect existing Ixigo users?
Users can expect micro-stay and hourly hotel booking features to be integrated directly into Ixigo’s ecosystem, expanding accommodation flexibility.
What are CCPS and FCDs regarding the AI investments?
Compulsorily Convertible Preference Shares (CCPS) and Fully Convertible Debentures (FCDs) are financial instruments that will allow Ixigo to hold equity or convert debt into equity in Proactai and Vestra.AI at a later date.
When will these transactions take effect on the stock market?
The deals are expected to close throughout July 2026. Ixigo's internal share trading window reopens for designated company insiders on June 8, 2026.
Source: Ixigo Investor Relations Disclosure, National Stock Exchange of India Limited, BSE Limited.
