Ixigo is an online travel aggregator platform for booking multiple travel services that expanded its Employee Stock Option Plan by offering its employees 4.6 lakh stock options to its existing ESOS plan. These newly allocated shares increased the issued and paid-up share capital to Rs 3,88,732,094. The travel tech firm provides information regarding hotels, flights, trains, buses, and related services.
The company offers its services through its AI-based online platform and mobile application. These travel and booking services are the firm’s primary source of revenue. The National Stock Exchange filing shows that the board passed a resolution to allot 4,65,216 stock options at a face value of Rs 1 per share. The startup will grant these options under its employee stock option scheme 2013, ESOS 2016, ESOS 2020, AND ESOS 2021.
The development came just after the firm expanded its pool size under ESOS 2012, ESOS 2013, and ESOS 2016 through the allotment of 6,90,796 stock options. This Gurugram-based startup has raised around 96.6 million USD across multiple funding rounds since its inception, including $53 million secured from Info Edge Ventures, GIC, and other investors in its series C funding round.
The firm also acquired a 51 percent stake in the food delivery startup Zoop Web Services for 1.4 million USD in a combination of primary and secondary share purchase rounds. Before this, Ixigo allocated 17.57 lakh stock options under its employee stock option Plan 2024. These newly allocated equity shares can be vested over four years with an equal annual installment of 25 percent per share.
Ixigo also provides a platform that allows users to book and search transportation services through detailed information on destinations, dates, and more. The travel tech startup plans to expand its network globally in this market segment. Several companies like Zetwerk, TBO Tek, and Nykaa increased their Employee Stock Option Plan pool size this year.
This OTA platform reported a 51 percent decrease in its net profit to Rs 13.08 crore in the second quarter of FY25. The company posted an increase in its total tax expenses to Rs 5.26 crore in the same period. This travel tech startup plans to solidify its position in the travel tech market segment. Ixigo competes with other app-based online travel booking platforms including Expedia, Yatra, and Kayak.
Conclusion :
Ixigo expanded its employee stock option Plan by allocating 4.6 lakh stock options under its multiple Employee Stock Option Schemes. These newly allocated shares increased the firm’s issued and paid-up share capital to Rs 3,88,731,094. The online AI-based platform offers hotel booking and transportation services with a facility allowing users to track their flights.
This is the second time this company has expanded its employee stock option plan in the past few months. The board at Ixigo approved the allocation of 4,65,216 stock options with a face value of Rs 1 each share under its multiple Employee Stock Option Schemes. The company has raised around 97 million USD across 12 funding rounds since its inception and it competes with travel tech platforms like Expedia.
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