Coronation Fund Managers has also reinforced its investment in Le Travenues Technology, the mother company of the leading Indian based online travel company, ixigo. The fund manager has now raised its shareholding in the company to more than 7%, according to a regulatory filing obtained via the Bombay Stock Exchange (BSE) on April 1, 2026.
This action will be a major advancement in its interest in the travel aggregator as the company continues to express confidence in the growth pattern and financial results of ixigo.
Strategic acquisition
The shareholding growth was supported by an open market transaction. In this session, the Coronation Fund Managers purchased around 4.75 lakh equity shares in Le Travenues Technology. The firm had a total of 3.02 crore shares before this recent purchase, which constituted a 6.90% stake in the company. These new shares have now increased the total number of shares held by Coronation to 3.07 crore shares, which in effect has increased its ownership to 7.01%.
The company did not experience any effect on its overall share capital, which is still standing at 43.81 crore shares. Coronation Fund Managers is a discretionary fund manager on behalf of a wide range of institutional investors and global funds, who were all listed under the regulatory disclosure as persons acting in concert (PAC) category.
Financial performance and institutional interest
This is the second occasion in recent months that Coronation Fund Managers has violated a significant shareholding limit. In February 2026, the fund had increased its stake to cross the 5% mark. The accelerated growth of 5% to above 7% highlights the aggressive accumulation approach of the fund to the travel technology company.
Coronation is not the only large institutional player that is expanding its presence. Other global investors have also migrated heavily into the travel platform. MIH Investments One B.V., a subsidiary of the global technology investor Prosus, expanded its share in ixigo to about 15% last year. This atmosphere of increasing institutional stakes indicates a high market confidence in the long-term worth of the travel aggregator.
The increment in investment by Coronation Fund Managers follows the impressive financial performance that ixigo has reported. In the third quarter of the 2026 fiscal year (Q3 FY26), the company registered an increase in its revenue generated in its operations to ₹317 crore. This is a significant growth as compared to ₹242 crore that was earned during the same quarter last year (Q3 FY25).
In addition to the top-line growth, there has been a significant increase in the profitability of the company. Ixigo recorded 55% profit growth to ₹24 crore during the same period. This powerful financial performance gives institutional investors such as Coronation a strong reason to increase their investments. According to the most recent market information, the shares of ixigo were valued at ₹165.02. It provided the online travel aggregator with a total market value of around ₹7,255 crore (approximately $797 million).
Conclusion
The move by Coronation Fund Managers to increase its ownership in Le Travenues Technology to more than 7% indicates the increasing appeal of ixigo by foreign asset managers. Coronation has become an important stakeholder in the future of the company by steadily growing its shareholding by engaging in open market purchases.
With the firm achieving a high revenue growth rate and a high increase in the profit rate, the travel platform will continue to play a critical role in the competitive online travel industry, as it draws consistent interest among both global funds and institutional investors.
Read the full article here