Le Travenues Technology (ixigo) has submitted its monitoring agency reports for the quarter ended December 31, 2025, in compliance with Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The reports, reviewed by the company's Audit Committee on January 22, 2026, cover the utilization of proceeds from both the Initial Public Offer and Preferential Issue.

IPO Proceeds Monitoring by ICRA Limited

ICRA Limited served as the monitoring agency for the IPO proceeds, confirming no material deviation from the stated objectives. The company's IPO, conducted from June 10-12, 2024, raised ₹740.10 crore with net proceeds of ₹112.67 crore after accounting for lower-than-estimated issue expenses.

The IPO funds are being deployed across three primary objectives. Part-funding of working capital requirements allocated ₹45.00 crore, with ₹29.13 crore utilized and ₹15.88 crore remaining. Technology and data science investments, including cloud hosting and artificial intelligence initiatives, received ₹25.80 crore allocation with ₹22.98 crore utilized during the quarter through ₹7.74 crore deployment. The third objective covers inorganic growth and strategic initiatives with ₹41.87 crore allocated, including ₹13.80 crore utilized for acquiring 62% stake in Zoop Web Services Private Limited.

Preferential Issue Monitoring by CARE Ratings

CARE Ratings Limited monitored the preferential issue proceeds of ₹1,295.56 crore allotted on November 12, 2025. The monitoring agency confirmed proper utilization across four equal objectives of ₹323.89 crore each, with ₹188.05 crore deployed during Q3FY26.

Fund Deployment and Investment Strategy

The company utilized working capital funds primarily for card payments and airline deposits totaling ₹165.77 crore. Organic growth initiatives received ₹11.45 crore for Google advertising and customer promotions. General corporate purposes consumed ₹9.93 crore, mainly for salary payments (₹9.90 crore) and stamp duty charges (₹0.03 crore).

Unutilized proceeds from both issues are strategically invested across fixed deposits and mutual funds. IPO proceeds of ₹19.49 crore are deployed in HDFC Bank fixed deposits earning 5.75%-7.25% returns. Preferential issue proceeds of ₹1,107.51 crore are diversified across bank fixed deposits (₹600.00 crore) and mutual fund investments (₹507.51 crore) with total market value of ₹1,116.06 crore as of December 31, 2025.

Regulatory Compliance and Timeline Adherence

Both monitoring agencies confirmed no deviations from disclosed objectives and timelines. The IPO objectives target completion by FY25-FY26, while preferential issue objectives have extended timelines through March 2028. The company maintains compliance with all regulatory requirements and continues systematic deployment of funds according to stated purposes.

The monitoring reports demonstrate ixigo's disciplined approach to capital allocation across technology enhancement, working capital optimization, and strategic growth initiatives while maintaining appropriate liquidity management through diversified investments of unutilized proceeds.

Le Travenues Technology (ixigo) delivered impressive financial performance in Q3FY26, demonstrating strong growth momentum across its travel platform ecosystem. The company's board approved the quarterly results at a meeting held on January 22, 2026.

Strong Revenue Growth Across All Segments

The company reported robust consolidated revenue growth of 31.36% year-on-year, reaching ₹3,175.64 crores in Q3FY26 compared to ₹2,417.61 crores in Q3FY25. This performance was driven by strong growth across all business segments.

Profitability Metrics Show Strong Performance

The company's profitability metrics demonstrated significant improvement during the quarter. Net profit for Q3FY26 surged 54.17% to ₹239.51 crores from ₹155.40 crores in the corresponding quarter of the previous year.

Nine-Month Performance Overview

For the nine months ended December 31, 2025, the company maintained strong revenue momentum with consolidated revenue reaching ₹9,147.77 crores, representing a growth of 45.17% compared to ₹6,301.09 crores in the corresponding period of FY25. However, net profit for the nine-month period was ₹394.31 crores compared to ₹434.81 crores in the previous year.

Major Corporate Developments

The company completed several significant corporate actions during the quarter:

Preferential Allotment: ixigo raised ₹12,955.63 crores through preferential allotment of 4,62,70,092 equity shares to MIH Investments One B.V. at ₹280 per share on November 12, 2025.

Employee Stock Options: The company allotted 492,119 equity shares under various ESOS schemes, increasing the paid-up share capital from ₹437.58 crores to ₹438.07 crores.

Earnings Per Share Performance

The company's earnings per share showed positive momentum with basic EPS at ₹0.58 for Q3FY26 compared to ₹0.40 in Q3FY25. For the nine-month period, basic EPS stood at ₹1.00 compared to ₹1.13 in the corresponding period of the previous year.

Exceptional Items Impact

The company recorded exceptional items of ₹27.96 crores during Q3FY26, primarily related to increased employee benefit liabilities arising from the implementation of new Labour Codes notified by the Government of India on November 21, 2025.

IPO Proceeds Utilization

The company continued to deploy its IPO proceeds of ₹1,126.71 crores raised in FY25, with ₹935.18 crores utilized as of December 31, 2025, primarily for working capital requirements, cloud infrastructure investments, and strategic initiatives.