Liquidity Events
ixigo to acquire hourly-hotel room booking platform Brevistay for Rs.66-Cr
Publicly listed, Gurugram-based travel-tech firm ixigo is to acquire a 54.66% stake in Brevistay , a fellow travel-tech company based in Noida, for INR 65.69 crore. (USD 6.9 million). The transaction will be executed through a mix of primary and secondary share purchases. Following the completion of the deal, Brevistay will operate as a subsidiary of ixigo. ixigo has also secured the right to acquire the remaining stake in the firm.Founded in 2016 by Prateek Singh, Nikhil Pathak, Aditya Naithani, and Shubham Agarwal, Brevistay provides an online platform that allows users to book hotel rooms on an hourly basis, offering slots of 3, 6, or 12 hours. The company claims to currently operate in over 200 cities across India.
In Aug 2022, Brevistay had attracted funding from Indian Angel Network , Sri Prakash and others.
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