ixigo (Le Travenues Technology Limited) announced the sale of 17.39% stake in Freshbus Private Limited to Twelve Stone LLP for ₹36.59 crore. This transaction, effective from August 13, 2026, will reduce ixigo’s shareholding in Freshbus from 25.66% to 8.27%, leading to Freshbus ceasing to be an associate company. The sale is expected to be completed by August 30, 2026.
ixigo Divests Freshbus Stake
Le Travenues Technology Limited, operating under the brand name ixigo, has entered into a significant Share Purchase Agreement to divest its stake in Freshbus Private Limited. The agreement, dated August 13, 2026, involves selling 46,264 Compulsorily Convertible Preference Shares of Freshbus to Twelve Stone LLP. The per-share sale price is fixed at ₹7,911, amounting to a total cash consideration of ₹365,994,504 (approximately ₹36.59 crore).
Impact on Associate Status
This transaction represents 17.39% of Freshbus Private Limited’s paid-up share capital. Previously, ixigo held a considerable investment in Freshbus, acquired on October 28, 2022. Upon completion of this sale, ixigo’s shareholding in Freshbus will decrease from the current 25.66% to 8.27% of the paid-up share capital. Consequently, Freshbus Private Limited will no longer be considered an associate company of Le Travenues Technology Limited.
Transaction Details
The agreement stipulates that the transaction is expected to be completed on or before August 30, 2026. The buyer, Twelve Stone LLP, is an entity whose designated partners include Mr. Sudhakar Reddy Chirra, the Founder and Managing Director of Freshbus Private Limited, and Ms. Sasya Chirra. The announcement also clarifies that the transaction does not fall within the purview of related party transactions.
Source: BSE
