ixigo To Sell 17.39% Fresh Bus Stake For ₹36.6 Cr
Listed traveltech company ixigo has agreed to sell a 17.39% stake in electric intercity bus startup Fresh Bus to Twelve…
Travel tech firm ixigo has reached an agreement to sell a 17.39% stake in electric intercity bus startup Fresh Bus to investment company Twelve Stone LLP for ₹36.6 Cr. In a filing, ixigo's parent company, Le Travenues Technology, disclosed that it will be selling 46,264 CCPS of Fresh Bus at a price of ₹7,911 per share. The transaction is expected to conclude by August 30, leading to a reduction in ixigo's ownership in Fresh Bus from 25.66% to 8.27%.
As a result, Fresh Bus will no longer be considered an associate company of ixigo. Notably, the deal does not qualify as a related-party transaction.
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