Le Travenues Technology Grants Over 500,000 Employee Stock Options

Le Travenues Technology (IXIGO) , the parent company of travel platform ixigo, has announced a significant employee stock option grant aimed at retaining talent and aligning employee interests with long-term company growth.

Stock Option Grant Details

The company's Nomination and Remuneration Committee has approved the grant of 508,613 stock options under four employee stock option schemes (ESOS). Here's a breakdown of the grant:

Scheme	Options Granted	Vesting Period
ESOS 2013	88,500	Four years in equal annual installments of 25% each
ESOS 2016	26,576	Four years in equal annual installments of 25% each
ESOS 2016	31,977	One-year vesting period
ESOS 2020	4,258	One-year vesting period
ESOS 2021	357,302	One-year vesting period

The exercise price for all options has been set at Rs. 93.00 per option. Upon vesting, employees will have a five-year window to exercise their options.

Objectives of the ESOS

Le Travenues Technology has outlined several key objectives for its employee stock option schemes:

Motivate and retain talented employees
Attract appropriate human talent
Align employee interests with long-term company goals
Create a sense of ownership and participation among employees
Provide additional deferred rewards to employees

Impact on Share Capital

Following this grant, the company's equity share capital has increased from 390,403,607 shares to 436,673,699 shares, all with a face value of INR 1.00 each. The total diluted share capital after this grant stands at 457,087,683 shares.

Recent Investor Activities

In a separate development, MIH Investments One B.V., a non-promoter entity, has increased its stake in Le Travenues Technology. Through a preferential allotment, MIH Investments acquired an additional 46,270,092 shares, bringing its total holding to 67,075,931 shares, or 15.36% of the company's voting rights.

This stock option grant and the recent investment highlight Le Travenues Technology's focus on employee retention and its ability to attract significant investor interest. As the company continues to grow in the competitive travel technology sector, these moves may play a crucial role in maintaining its market position and driving future growth.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.98%	-3.10%	-18.63%	+52.91%	+81.25%	+44.57%

Le Travenues Technology (IXIGO) , known as ixigo, has demonstrated resilience in a challenging market environment, reporting a 37% year-on-year growth in revenue from operations for Q2. The company's performance highlights its ability to navigate market headwinds while continuing to expand its presence in the Indian travel sector.

Financial Highlights

ixigo reported the following key financial metrics for Q2:

Metric	Q2 Value (INR)	Y-o-Y Growth
Revenue from Operations	282.70 crores	37%
Gross Transaction Value (GTV)	4,347.50 crores	23%
Adjusted EBITDA	28.50 crores	36%
Adjusted EBITDA Margin	10%	Maintained

Segment Performance

Flights

Despite a 2% contraction in the domestic aviation market, ixigo's flight segment showed strong performance:

60% revenue growth
29% GTV increase to INR 1,592.40 crores
19% growth in flight segments booked, reaching 2.41 million

Bus

The bus segment demonstrated robust growth:

51% GTV increase to INR 571.90 crores
46% growth in passenger segments, reaching 6.04 million

Trains

The train segment faced challenges due to ecosystem-related adjustments:

10% growth in train segments booked, reaching 27.20 million
12% GTV increase to INR 2,125.90 crores

Strategic Fundraise

ixigo announced a significant fundraise of approximately INR 1,296 crores through preferential issuance to MIH Investments One B.V. (Prosus). This capital infusion aims to:

Strengthen the company's balance sheet
Accelerate AI-led growth initiatives
Fuel investments in the hotel OTA space
Provide flexibility for potential inorganic growth opportunities

Operational Highlights

The company maintained its adjusted EBITDA margin at 10% with INR 28.50 crores.
Cash flow for H1 stood at INR 91.50 crores.
PAT was negative at INR 3.50 crores, primarily due to a one-time non-cash ESOP charge of INR 26.90 crores related to early achievement of performance milestones.

Future Outlook

ixigo's management expressed optimism about the company's future, citing:

Green shoots observed in October, indicating potential market recovery
Increased supply in the aviation sector, as evidenced by the winter schedule filed with DGCA
Continued focus on AI-driven innovations and customer-centric solutions

The company plans to leverage its new capital to invest in AI-first experiences, enhance its hotel OTA business, and explore strategic acquisitions that align with its growth strategy.

Investor Meetings

ixigo has scheduled several one-on-one meetings with fund managers and analysts from prominent investment firms in November, indicating ongoing investor interest in the company's growth story.

As ixigo continues to navigate the evolving travel landscape, its focus on technological innovation, particularly in AI, and strategic capital deployment positions it to capitalize on the recovering travel market and potential long-term growth opportunities in the Indian OTA space.