Le Travenues Technology Limited (ixigo) has announced the submission of Monitoring Agency Reports for Q3 FY26, reviewed by the Audit Committee on January 22, 2026. ICRA and CARE Ratings issued the reports. Proceeds are allocated towards working capital, technology investments, inorganic growth, and general corporate purposes. Unutilized proceeds are invested in fixed deposits and mutual funds.
Issue Proceeds Monitoring
Le Travenues Technology Limited has released Monitoring Agency Reports for the quarter ended December 31, 2025 (Q3 FY26). These reports, reviewed by the Audit Committee, cover the utilization of funds raised through the Initial Public Offer and Preferential Issue.
ICRA Report Highlights
ICRA Limited’s report indicates that there was no material deviation from the stated objectives of the issue. The proceeds were allocated towards:
- Part-funding working capital requirements.
- Investments in technology and data science.
- Funding inorganic growth.
- General corporate purposes.
A revision in net proceeds is shown, now at INR 112.671 Crore due to lower than estimated offer-related expenditure. Unutilized proceeds are deployed in fixed deposits and mutual funds.
CARE Ratings Report Highlights
CARE Ratings Limited also reported no deviations from the objectives of the preferential issue. Key allocations include:
- General Corporate Purposes: INR 9.93 crore.
- Working Capital Requirements: INR 165.77 crore.
- Organic Growth Opportunities: INR 11.45 crore.
- Inorganic Growth Opportunities: INR 0.90 crore (for acquiring a stake in Zoop Web Services Private Limited).
The total unutilized amount stands at INR 1,107.51 crore, deployed in various fixed deposits and mutual funds.
Unutilized Funds Deployment
Unutilized funds are invested in Fixed Deposits with HDFC and Axis Bank and several Mutual Funds, earning interest. The market value of these investments stood at INR 1,116.06 crore as of December 31, 2025.
General Corporate Purpose Utilizations
A total of INR 9.93 crore was utilized towards general corporate purposes, including salary payments (INR 9.90 crore) and stamp duty charges. The report confirms that there are no implementation delays for different objectives and no material deviations.
Source: BSE
