For booking flights, buses, trains, and hotels, Rapido has partnered with Goibibo, owned by MakeMyTrip; ConfirmTkt, owned by ixigo; and redBus. Rapido aims to become a one-stop travel app, offering its 5 Cr active users from more than 400 cities nationwide a smooth mobility experience. Prior to a possible initial public offering (IPO), the ride-hailing company is working to diversify.
Unicorn that rides Rapido has partnered with Goibibo, owned by MakeMyTrip; ConfirmTkt, owned by ixigo; and redBus to provide hotel, bus, rail, and flight booking through its app. With these features, Rapido hopes to establish itself as a one-stop travel app, delivering its 5 Cr active users from more than 400 cities around the nation a smooth mobility experience.
Rapido claimed that by combining daily mobility and trip booking into a single app, it is well-positioned to onboard the next 10 Cr digital travellers. RedBus is an online bus ticketing platform for intercity bus reservations, whereas Goibibo offers hotel and airfare bookings. ConfirmTkt is a B2C online train ticketing platform that has been authorised.
Rapido Added New Travel Section in its App
Rapido has established a new “travel” section on its app’s home screen in order to accommodate the additional services. By utilising Rapido’s reach, Goibibo, ConfirmTkt, and redBus hope to increase their user base even more with this relationship.
Rapido’s continuing diversification strategy continues with this move. A full-fledged mobility app, the ride-hailing firm started off as a bike-taxi platform for short-distance urban commuting. Over time, it added car and taxi booking services to its main business of bike ride-hailing. In an attempt to compete with Zomato and Swiggy, Rapido also entered the food delivery market earlier this year with the introduction of Ownly.
Rapido Aiming to Become Multi-Service Platform
Rapido’s strategy change to become a multi-service platform instead of a single-category competitor is reflected in the diversification, which enables it to compete with both foodtech behemoths and significant ride-hailing companies. Rapido wants to increase app engagement and diversify its revenue sources by combining various offers into a single platform.
The most recent advancement coincides with Rapido’s goal of closing a $500–$550 million fundraising round. Swiggy’s stake sale would be one of several primary and secondary transactions that would take place during the round.
Although Rapido has not yet submitted its FY25 financial figures, the company is anticipated to generate over INR 1,000 Cr in revenue during the year. It reduced its loss from INR 675 Cr in the previous fiscal year to INR 370 Cr in FY24, a more than 45% reduction. Operating revenue increased from INR 443 Cr in FY23 to INR 648.1 Cr in FY24, a 46% increase.
Quick Shots
•Rapido now offers flight, hotel, bus, and
train bookings via partner integrations.
•Rapido Collaborated with Goibibo
(MakeMyTrip), ConfirmTkt (ixigo), and redBus.
•Rapido wants to become a one-stop travel
and mobility app for its 5 crore active users across 400+ cities.
•Rapido expands beyond bike-taxi roots to
car rides, taxis, food delivery (Ownly), and now travel services.
Le Travenues Technology Ltd., which operates under the trade name “Ixigo,” is a prominent online travel agency (OTA) that was founded in 2006. Aloke Bajpai and Rajnish Kumar started the company so that people in India could easily book hotels, trains, buses, and flights. The Bangalore-based company has a massive consumer base all over India.
Ixigo has proven its operational prowess in a very competitive market. In FY23, marketing and promotional costs were for just 18.6% of revenue, well below the 35.8% average for the industry. With 25 million users active every month, Ixigo has made great strides in acquiring new customers. Also, with an expense-to-revenue ratio of 0.97, the corporation has kept its costs modest. The strategic expertise and market agility demonstrated by Ixigo in the online travel business can be seen in these figures.
The company runs on a strong commission-based business model. It runs a meta-search business that enables travelers to get all the necessary services required under one roof.
The creative combination of technology and solutions focused on the consumer is key to Ixigo’s success. By utilizing AI, ML, and data analytics, Ixigo has created customized vacation packages that are highly popular among tech-savvy millennials. AbhiBus and Confirmtkt are just two examples of the strategic partnerships and acquisitions that have helped Ixigo grow its business, enhance its products, and attract more customers.
There aren’t many profitable Indian tech businesses in the tourism industry, but Ixigo is among them. Impressive financial gains were achieved by the company while facing challenges like the COVID-19 pandemic and a very competitive OTA market.
Ixigo Business Model Canvas
Ixigo, a leading online travel platform in India, has built a resilient and scalable business model focused on affordability, innovation, and deep market penetration.
Ixigo Business Model Canvas
Below is a concise Business Model Canvas outlining how Ixigo operates and creates value:
Ixigo generates revenue from various sources, including:
Commission from Train, Bus, Flight ticketing, and Cab booking: Indians rely on trains for their daily commutes, with a higher proportion opting for long-distance rail travel. This is particularly true for a developing nation like India, where flying is still out of reach for the majority of the population. The train booking process on Ixigo is quite straightforward to use. However, Ixigo is only allowed to charge commissions between INR 20 and INR 35 per booking, and the Indian Railways do not permit surge pricing. Similarly, the company charges various commissions on bus, flight, and cab booking too, charges vary depending on the distance traveled.
Hotel Reservation Commission: For hotel reservations, Ixigo collects some extra fees in addition to the booking prices for its services offered on the site. These fees are called “Additional Fees” and are meant to cover the cost of providing convenient services to clients.
Revenue through Advertisement: As the website and app of Ixigo have a massive viewership and downloads, the company is utilizing this development to generate revenue. Now several brands have been putting their promotional advertisement on Ixigo’s website. Brands associated to travel and leisure industry are constantly opting for Ixigo’s website for their promotional activities.
E-bus ticketing via FreshBus: In preparation for the introduction of electric bus services between cities in India, Ixigo put INR 26 crore (about $3.1 million) into the Bengaluru-based startup FreshBus.Now company charges a hefty commission through its e-ticketing service on every booking of FreshBus.
Ixigo Financials FY24
Particulars
FY24
FY23
Total Revenue
INR 665.1 crore
INR 517.6 crore
Total Expenses
INR 627.8 crore
INR 484.3 crore
Profit/Loss
INR 73.1 crore
INR 23.4 crore
Ixigo Revenue 2024
Over the past five fiscal years, Ixigo has demonstrated significant growth in revenue and profitability, reflecting its expanding presence in the travel industry.
In FY24, Ixigo reported a total revenue of INR 665.1 crore, marking a 28% increase from INR 517.6 crore in FY23. Expenses also rose to INR 627.8 crore in FY24, up from INR 484.3 crore in FY23. Despite the increase in costs, the company’s net profit surged to INR 73.1 crore, more than tripling from INR 23.4 crore in FY23.
Ixigo Key Features
With Ixigo, customers can search and book flights, hotels, trains, taxis, and destinations from over 120 different suppliers and OTAs. Initially, the company’s focus was on serving customers in tier-I cities with its primary product, an app that allowed users to book flights and hotels. Ixigo gradually recognized the necessity of concentrating on tier II and III cities. A separate rail app was developed as a result, aimed at low-cost travelers hailing from those cities. The company’s commitment to innovation and its goal of resolving even the most minor consumer pain points constitute its greatest competitive advantage. Ixigo has introduced new features such as live running status, Siri shortcuts, and an augmented reality tool that lets users find their coach positions at over 7,000 railway stations in India.
Ixigo IPO
In the wake of its initial public offering (IPO), Ixigo is well-positioned to shake up the industry. With an estimated valuation of over INR 6,000 crore, the initial public offering (IPO) represents more than simply a chance to invest; it reflects faith in Ixigo’s lucrative and cutting-edge business strategy. Investors’ faith in Ixigo’s future growth is evident in the IPO’s target valuation of around INR 120 crore, which establishes the firm as a strong contender among IT IPOs.
Just one day before the anchor book opening, the company finalized a pre-IPO secondary placement of over Rs 176.2 crore. Madison India, Elevation Capital, Micromax Informatics, and Peak XV Partners sold 18.9 million shares at the upper end of the IPO price band of Rs 93 apiece during this secondary sale. Ashoka India Equity Investment Trust, Bay Capital, Tata Mutual Fund, and Steadview Capital are among the new investors who bought shares. Shares of the company debuted strongly on June 18, 2024.
The internet travel industry has its share of hurdles, but Ixigo is up for the challenge. New services and products from the company include Ixigo Money, a loyalty program that gives customers discounts and cash back, and Ixigo Assured, a premium travel product that gives customers priority support, free ticket modifications, and guaranteed refunds. For a more tailored and satisfying experience for its customers, the business has also put money into cutting-edge tech like data analytics, AI, and machine learning. Through these efforts, Ixigo has been able to grow its user base, market share, and income while tackling all the business operations’ difficulties.
Le Travenues Technology Ltd., which operates under the trade name Ixigo, is a prominent online travel agency (OTA). With Ixigo, customers can search and book flights, hotels, trains, taxis, and destinations from over 120 different suppliers and OTAs.
When was Ixigo founded?
Aloke Bajpai and Rajnish Kumar founded the company in the year 2006.
Is Ixigo profitable?
Yes, Ixigo is profitable, with a net profit of ₹73.1 crore in FY24 and ₹23.4 crore in FY23.
What is Ixigo net worth?
As of July 2025, Ixigo has a market capitalization of around INR 6,700 crore (approximately $770 million). The company is profitable, with a net income of about INR 60 crore on trailing 12-month revenue of INR 932 crore, reflecting strong financial performance and investor confidence.
What is business of Ixigo?
Ixigo is an online travel platform that aggregates and lets users search, compare, and book flights, trains, buses, hotels, and cabs using AI‑powered meta‑search.
In a block transaction valued at INR 97.44 Cr, VC company Elevation Capital, formerly SAIF Partners India, sold more than 53.98 lakh shares of online travel aggregator (OTA) ixigo on June 19.
In contrast to the stock’s last closing price of 180.65 on the BSE on June 18, the investment firm, through Saif Partners India IV Limited, sold the shares at INR 180.50 per share, according to BSE data.
Schroder International Selection Fund Asian Total Return purchased 53.69 lakh shares of the shares that flooded the market at the same price, for a total of INR 96.9 Cr.
One of the largest investors in Le Travenues Technology Ltd, the parent firm of the travel technology company, is Elevation Capital. By the conclusion of the March quarter of 2025, it held a 14.02% interest in ixigo. Elevation Capital has divested its stake in the company for the second time in the past month. For INR 38.27 Cr, the venture capital firm sold over 21.5 lakh shares of ixigo in May.
ixigo Witnessing Upward Trend
Due to increased profitability and a growing top line, ixigo’s shares have been rising at the time of the block purchase. The company’s stock is up 5.19% year-to-date (YTD), and its shares have soared 31.56% in the last three months.
Since going public last year, the stock has increased by more than 89% from its INR 93 listing price.
In terms of finances, the OTA’s consolidated net profit jumped 127% from INR 7.4 Cr in the previous quarter to INR 16.8 Cr in Q4 FY25. From INR 164.9 Cr in Q4 FY24 to INR 284.1 Cr in the reviewed quarter, operating revenue increased by 72%.
ixigo’s Recent Business Developments
ixigo was first established in 2007 by Aloke Bajpai and Rajnish Kumar as a travel search engine to assist users in comparing airfares. Later, it changed course and became an online travel agency (OTA), allowing customers to buy hotel rooms, vacation packages, and tickets for flights, trains, and buses.
Additionally, it offers automated customer service and tailored recommendations. The corporation claims to have 83 million monthly active users and 544 million annual active users.
Hotel and flight reservations to Turkey and Azerbaijan were suspended by the travel technology company, which competes with MakeMyTrip and EaseMyTrip, last month as these countries supported Pakistan during recent Indo-Pak escalations.
ixigo management stated on their Q4 results call that if the circumstances alter, the company will reevaluate its position.
This transaction is representative of a new stage in the lifecycle of Indian entrepreneurs, one that combines global asset manager involvement, VC returns, and post-IPO investor trust.
Now that more than 100 Indian firms have joined the unicorn club, attention is focused on those that scale, sustain, and generate profits.
For the upcoming generation of Indian entrepreneurs, ixigo’s transformation from a resilient OTA startup to a publicly traded company drawing in foreign investment provides an encouraging path forward.
A brand ambassador is a person who represents a corporation and serves as its “face.” The candidate should ideally be a tastemaker in their community, with plans to sell the brand through existing networks and contacts. In addition, a brand ambassador will represent her company at special events, where she may provide product demos or distribute samples.
Rohit Sharma is a popular cricketer for brand endorsement in India. Only Virat Kohli and Jasprit Bumrah are in the A+ category of the BCCI’s yearly contract, and Rohit Sharma is one of them. The contract pays him a total of Rs 7 crore every year. Furthermore, the BCCI pays each of its sportsmen Rs 15 lakh per Test match. The match price is Rs 6 lakh for an ODI and Rs 3 lakh for a T20I. Rohit is a multi-format player for India.
Apart from cricket, where he is required to support products such as Jio and others as part of his affiliation with the team. Rohit is an independent brand endorser for a number of companies. He promotes brands such as IIFL Finance, Vega, Glenmark Pharma’s Candid Powder version, Dr Trust, Noise, Oakley, Ceat, Hublot, and many more. Rohit Sharma is estimated to earn roughly Rs 7 crore from brand endorsements.
JioCinema collaborated with Rohit Sharma for TATA IPL, titled ‘Hitman Joins the Party!’ The Indian national cricket team captain is seen walking in, accompanied by a stylist, assistant & makeup artist.
Rohit proudly identifies himself as the “opener” for team JioCinema, but the narrator unexpectedly labels him as the “tailender”. The narrator then humorously adds, “Don’t mind, but before you,” indicating that he isn’t the first to watch IPL on JioCinema.
Oral B
In a recent video campaign for Oral-B Criss Cross, the brand announced the most celebrated cricketer, Rohit Sharma, as its brand ambassador. The campaign was creatively designed and brought to life by DDB Mudra.
He emphasized that a confident smile can make a big difference on and off the field. This partnership highlights the importance of taking care of your teeth, just like you would train for a match. It’s a simple yet powerful message from a sports icon we all admire!
Swiggy
Swiggy is one of India’s go-to food delivery apps, it isn’t just about bringing your favorite meals to your doorstep anymore. This time, they’ve brought cricket superstar Rohit Sharma and his wife, Ritika Sajdeh, into the mix for their latest campaign, “Yeh Se Leke Woh Tak.” The ad?
It’s pure fun. Picture this: Rohit, in his usual laid-back style, keeps casually asking for things—tea cups, a charger—like they’ll magically appear. Ritika, ever the problem-solver, simply adds them to the Swiggy Instamart cart. No fuss. No running around. Just tap, order, and relax.
Max Life Insurance
Max Life Insurance is all about securing futures and giving families peace of mind. As one of India’s top life insurance providers, they offer plans that aren’t just about policies—they’re about protecting dreams and ensuring long-term financial stability.
To bring this message to life, Max Life teamed up with cricket icon Rohit Sharma and his wife, Ritika Sajdeh, in a heartwarming ad campaign. The ad wasn’t just about numbers or policies; it was about the real, emotional side of financial planning.
It followed Rohit and Ritika’s journey as they made decisions to safeguard their family’s future—something every couple can relate to. And the impact? Huge. The campaign struck a chord with audiences, leading to a noticeable spike in customer interest and positive brand sentiment. Turns out that when a trusted name talks about protection, people listen.
RS by True Elements
RS by True Elements teamed up with Rohit Sharma to promote a special range of breakfast and snacks crafted for those who refuse to compromise on taste or nutrition.
Packed with wholesome ingredients and powerful flavors, every bite is designed to keep you energized. Whether you’re gearing up for a big day, crushing a workout, or just need a quick, guilt-free snack.
Fuel up like a champion, stay at the top of your game, and make every moment a winning one—just like The Hitman himself!
Hublot
Hublot – Rohit Sharma Brand Endorsements
Luxury Swiss watchmaker Hublot joined hands with Rohit Sharma, making him an official brand ambassador and strengthening its connection with cricket enthusiasts.
Known for precision, innovation, and elegance, Hublot found the perfect match in Rohit—one of India’s most celebrated cricketers, admired for his consistency, leadership, and grace under pressure.
The partnership was celebrated with a special campaign featuring Rohit sporting Hublot’s luxury watches, reinforcing the brand’s presence in the cricketing world.
Adidas
Adidas – Rohit Sharma Brand Endorsements
When Rohit Sharma and Adidas joined forces for the “Impossible is Nothing” campaign, it was more than just an ad—it was a statement. The ad captured Rohit in the zone, locked into his intense training sessions, powered by Adidas’ high-performance sports gear. It wasn’t just about cricket; it was about resilience, pushing limits, and proving that no challenge is too big.
Adidas couldn’t have picked a better ambassador. Rohit’s game isn’t flashy, but it’s powerful. He’s known for his quiet determination, his ability to rise to the occasion, and his relentless pursuit of excellence—qualities that align perfectly with Adidas’ brand philosophy.
Dr Trust
Dr Trust – Rohit Sharma Brand Endorsements
One of the popular healthcare brands, Dr Trust, announced Rohit Sharma as its brand ambassador, reinforcing its commitment to health and wellness. Dr Trust specializes in advanced monitoring devices that track vital health parameters such as blood pressure, oxygen levels, respiration rate, and pulse rate—essential tools for proactive health management.
With Rohit on board, the brand aimed to make health monitoring a household habit, especially among fitness enthusiasts, athletes, and everyday users. Through engaging campaigns and digital promotions, he emphasized how regular health check-ups, even at home, can lead to a healthier, more informed lifestyle.
Walkaroo
Walkaroo – Rohit Sharma Brand Endorsements
Leading footwear brand Walkaroo teamed up with Rohit Sharma as its brand ambassador, bringing together style, comfort, and performance in one powerful collaboration.
Known for its trendy yet durable footwear, Walkaroo aims to connect with young, dynamic consumers who seek both fashion and functionality in their everyday wear.
As a cricketing icon, Rohit Sharma embodies resilience, confidence, and effortless style—qualities that align perfectly with Walkaroo’s brand philosophy.
Through this partnership, Walkaroo launched engaging campaigns featuring Rohit, encouraging people to “Walk with the Best” and make bold moves, both on and off the field.
Rasna
Rasna – Rohit Sharma Brand Endorsements
Rasna, India’s largest manufacturer and exporter of beverages, brought Rohit Sharma on board as its brand ambassador. Known for its refreshing drinks that have been a household favorite for decades, Rasna found the perfect face in Rohit—someone who embodies energy, reliability, and a deep connection with Indian families.
As the star of Rasna’s television and digital campaigns, Rohit promotes the brand’s wide range of beverages, making them even more appealing to fans across all age groups.
TAGG
TAGG – Rohit Sharma Brand Endorsements
In September 2021, tech-driven lifestyle electronics brand TAGG welcomed Rohit Sharma as one of its brand ambassadors, a move designed to elevate its presence in the competitive tech market.
Known as “The Hitman” for his power-packed performances on the cricket field, Rohit brings the same energy and reliability that TAGG promises in its products. His massive fan following and strong influence makes him the perfect fit to connect with a wider audience, helping TAGG strengthen its position in the lifestyle electronics space.
With this partnership, TAGG aims to blend innovation, style, and performance—just like Rohit does in his game.
Booking.com
Booking.com – Rohit Sharma Brand Endorsements
In the lead-up to the ICC Men’s Cricket World Cup 2023, global travel giant Booking.com teamed up with Indian cricket captain Rohit Sharma for an exciting collaboration.
As the Official Accommodation Partner for ICC events, Booking.com has always made it easier for fans to explore the world—and this time, they brought that same spirit to cricket’s biggest stage.
With Rohit leading the charge, the campaign struck a chord with cricket fans who dream of traveling to witness their favorite matches live. It was more than just an ad—it was an invitation to experience cricket beyond the screen, with Booking.com making every journey hassle-free and unforgettable.
Infinity Learn
Infinity Learn – Rohit Sharma Brand Endorsements
Infinity Learn, a fast-growing EdTech platform, has teamed up with Rohit Sharma to inspire students across India. Known for his sharp focus and determination on the cricket field, Rohit embodies the qualities that Infinity Learn aims to instill in young minds—perseverance, discipline, and a winning mindset.
As the brand ambassador, Rohit Sharma will be featured in various campaigns, encouraging students to push their limits and achieve academic excellence. Through this collaboration, Infinity Learn reinforces its mission to make high-quality education accessible, engaging, and effective for learners of all levels.
IIFL Finance
IIFL Finance – Rohit Sharma Brand Endorsements
As a leading player in the Indian financial sector, IIFL Finance has partnered with Rohit Sharma to reinforce the brand’s commitment to safe and secure financial transactions.
As a cricketing icon known for his consistency and reliability, Rohit perfectly embodies IIFL Finance’s core values—trust, integrity, and long-term security. His association with the brand aims to instill confidence in customers looking for safe, transparent, and efficient financial services.
JK Lakshmi Cement
JK Lakshmi Cement – Rohit Sharma Brand Endorsements
JK Lakshmi Cement, a trusted name in the Indian construction industry since 1982, has always stood for quality, innovation, and resilience. Known for delivering durable and reliable cement products, the brand has played a key role in building strong infrastructure across the country.
For their latest campaign, Rohit Sharma takes center stage, bringing to life the brand’s powerful tagline—“India’s Best Performer.”
With this partnership, JK Lakshmi Cement not only strengthens its brand presence but also reaffirms its commitment to providing builders and consumers with a foundation they can trust—just like Rohit Sharma on the cricket field.
ixigo
ixigo – Rohit Sharma Brand Endorsements
ixigo has welcomed Rohit Sharma as the brand ambassador for its trains app, taking its mission of effortless train travel to new heights. With a commitment to making journeys smoother and smarter, this partnership aims to expand ixigo’s reach across India.
As part of the collaboration, ixigo Trains is launching an exciting new ad featuring Rohit Sharma like never before—a rapping ticket collector! Infused with humor and energy, the campaign highlights ixigo’s real-time train updates, live running status, ticket availability insights, and hassle-free bookings. With a catchy rap and an engaging concept, the ad makes train travel both simpler and more entertaining for millions of travelers.
Massimo Batteries
Mittal Batteries—one of India’s leading battery manufacturers—signed Rohit Sharma as the face of its Massimo Batteries brand, reinforcing its commitment to power and reliability.
As the brand ambassador, Rohit takes center stage in Massimo’s media campaigns, perfectly embodying the tagline #EnergyHitmanKa—a nod to both his explosive batting style and the high-energy performance of Massimo Batteries. His association adds trust and credibility, helping the brand stand out in the fiercely competitive battery market.
Dream 11
Dream 11 – Rohit Sharma Brand Endorsements
Fantasy sports giant Dream11 joined forces with Rohit Sharma, one of India’s most celebrated cricketers, to take fan engagement to the next level. As a key figure in Dream11’s campaigns, Rohit brings his game-winning instincts and cricketing expertise to the platform, inspiring millions to create their fantasy teams and strategize like a pro.
Through this collaboration, Dream11 leverages Rohit’s massive fan following and deep connection with the sport, making fantasy cricket even more exciting.
Glenmark Pharma
Glenmark Pharma – Rohit Sharma Brand Endorsements
Cricketer Rohit Sharma has joined pharmaceutical company, Glenmark Pharma as a brand ambassador for Candid Dusting Powder. The company’s consumer care division’s historical brand. Mr. Dhawal Katkar, Vice President and Head Of Glenmark Consumer Care at Glenmark Pharmaceuticals, commented on the partnership, saying, “We are pleased to be affiliated with Rohit Sharma. The way Candid Powder has proven to be a master in the treatment of four different skin disorders, he offers polished expertise and skill to cricket. Candid Powder is a proven remedy for identified skin-related disorders, just like Rohit Sharma has all-round knowledge in all formats of the game. Rohit has previously promoted a competitor company’s Relispray version and Midas Care Pharmaceuticals.
Financepeer
Financepeer – Rohit Sharma Brand Endorsements
Financepeer, an education fee financing organisation that seeks to make high-quality, affordable education available to everybody, has named Rohit Sharma as their Brand Ambassador. He will now be the brand’s face and will appear in all of the company’s endorsements. The agreement will benefit the Mumbai Indians and Team India batsmen by improving the school industry and fostering innovation across many education areas. Rohit Sharma will also participate in Financepeer’s many digital initiatives, which have already delivered education to nearly one million students across India.
“We are incredibly thrilled and humbled to cooperate with Rohit Sharma,” said Rohit Gajbhiye, Founder and CEO of Financepeer. Transparency, Integrity, Accountability, and Commitment to Society are the essential characteristics that define our brand.”
Rohit Sharma remarked in response to this partnership “I am thrilled to be connected with Financepeer,”. They have an interesting business plan that caters to the most crucial sector – education, in my opinion. As a parent, I understand the importance of your child’s future, and I’m delighted Financepeer has been able to assist a number of parents in their endeavour. I look forward to working with them as they continue to assist students in obtaining a well-rounded education.”
Vega Men
Vega – Rohit Sharma Brand Endorsements
Vega, a leading beauty accessories brand, has signed Mumbai Indians captain Rohit Sharma as a brand ambassador.In India, Vega is one of the most well-known and renowned beauty accessory brands. Hitman Sharma is a wonderful fit for Vega’s grooming products, which include beard trimmers, shavers, and bear straighteners.
Rohit Sharma, who just finished his 150th IPL match for Mumbai Indians, stated “I’m happy to be connected with Vega,” They have some of the most sophisticated, attractive, and user-friendly items available. I’m looking forward to being a part of their development.”
“Vega is a brand that has been in business for the last two decades, and our objective has been to cater to the ‘Head to Toe’ grooming demands of our consumer,” Sandeep Jain, director of Vega Industries, said in welcoming the MI Skipper onboard.
“After establishing our leadership in the beauty care accessories category and achieving a significant position in the market for personal care appliances for women, we’re all set to strengthen our men portfolio under the ‘Vega Men’ brand with the exciting Rohit Sharma as our brand face,” he added, clearly excited about the new venture.
Oakley
Indian cricketer Rohit Sharma has been selected as the brand ambassador for Oakley in India. Ben Goss, Oakley’s global brand director, said in a statement about Rohit Sharma’s appointment as the brand ambassador: “Rohit Sharma is a world-class performer, an inspiration for the next generation, and an icon.Rohit represents Oakley’s principles of enthusiasm, growth, and performance, making him a perfect choice to represent and lead the brand discourse.
Rohit Sharma said of his partnership with the company “I am happy to be connected with Oakley, a brand I have always admired,”. As an athlete, I believe it is critical that we wear the proper eyewear to ensure maximum protection and clarity of vision.
CEAT
CEAT – Rohit Sharma Brand Endorsements
CEAT has inked a three-year bat endorsement deal with Indian cricket batter Rohit Sharma, according to a statement from the tyre maker. In all formats of the game, the cricketer will now be seen playing with a bat that visibly displays the CEAT emblem.
“We are happy to welcome Rohit Sharma as the latest Indian cricketer to join CEAT’s family,” Anant Goenka, MD, CEAT, said of the relationship. Rohit is not only a fantastic batter, but also a fantastic mentor and role model for young cricketers.”
Rohit Sharma remarked of his new partnership, “This is undoubtedly an interesting association for me.” It’s an honour to collaborate with CEAT, who have played a key role in promoting cricket in our country. I’m looking forward to spending a lot of time with CEAT.
Noise
Noise, an electronics manufacturer, has announced Rohit Sharma as its brand ambassador. Sharma is India’s run machine and the ICC ODI Cricketer of the Year for 2019. Through the brand, he’ll also release his own limited edition.
“We’re happy to announce our relationship with Rohit Sharma, who is really one of the best cricketers of our time,”His enthusiasm to the sport accurately reflects our commitment to giving the greatest service to our customers said Gaurav Khatri, Noise’s founder.
“As a professional athlete, my livelihood necessitates that I concentrate on my health. Having said that, I’ve always felt that a good body begets a healthy mind, and that being well is the first step toward a meaningful existence. As a result, whether I’m in the middle of a series or have a break, I make sure to give it my all every day.His always puts me in a pleasant space, as well as ensuring that I do justice to my devotion to the sport Rohit Sharma added.
Bournvita
Because Rohit Sharma is one of India’s most popular cricketers, he gets approached by a number of firms for endorsement opportunities, one of which is Bournvita, a chocolate health drink.
Nissan
Nissan – Rohit Sharma Brand Endorsements
Rohit Sharma, an Indian cricketer, has been appointed as Nissan’s new worldwide ambassador. Nissan also designated West Indies all-rounder Andre Russell and New Zealand women’s team captain Suzie Bates as ambassadors for its collaboration with the International Cricket Council (ICC).
The ambassadors will be active on social media throughout the World T20, promoting Nissan’s fan-focused initiatives in addition to an advertising campaign. “I’m ecstatic to be working with Nissan on their ICC partnership. The World T20 is really meaningful to me, and winning it demands a lot of hard effort and creativity,” Rohit Sharma remarked.
Nasivion
In 2015, Nasivion, a nasal spray manufacturer, made Rohit Sharma its brand ambassador. Nasivion is a nasal decongestant. It unblocks the nose. It’s active ingredient Oxymetazoline is well tolerable on the nose and provides up to 12 hours of easier breathing.
Rohit Sharma Brand Endorsements
FAQs
How much money CEAT gives to Rohit Sharma?
Rohit Sharma was signed to endorse CEAT in 2015 for INR 3Crores Per annum.
How much does Rohit Sharma charge for advertising?
Rohit Sharma charges around INR 50 lakhs to 1 Crore per brand endorsements.
Online travel aggregator ixigo has approved a new Employee Stock Option Scheme (ESOS) for 2025, allocating 1.2 crore (12 million) stock options to its employees. This move aims to attract and retain talent while aligning employee interests with company growth.
ixigo’s board has approved granting stock options of at least 1% of the company’s issued capital to co-founders Aloke Bajpai and Rajnish Kumar under the ESOS 2025 plan.
Details of the ESOS 2025:
Total Number of Options: The ESOS 2025 consists a pool size of 1.2 crore (12 million) stock options. Upon vesting and exercise, these options will convert into an equivalent number of equity shares, aligning with the existing equity shares of the company.
Pricing Formula: Each option under ESOS 2025 is priced at INR 93, matching the issue price during ixigo’s Initial Public Offering (IPO).
This move is proof of ixigo’s commitment to recognising and rewarding its employees’ contributions. By offering stock options, the company aims to match employees’ interests with its growth and success, creating a sense of ownership and motivation.
Recent ESOP Allocations
This is not ixigo’s first initiative to reward its workforce through stock options:
January 2025: The company allotted 10.58 lakh equity shares to eligible employees under various ESOP schemes.
December 2024: Over 4.6 lakh equity shares were allotted to employees under multiple ESOS plans.
November 2024: An expansion of the ESOP pool saw the grant of 17.57 lakh stock options under ESOP 2024.
These consistent efforts highlight ixigo’s dedication to employee welfare and its strategy to retain top talent in a competitive industry.
About ixigo
Founded in 2007 by Aloke Bajpai and Rajnish Kumar, ixigo is an Indian online travel portal headquartered in Gurugram, Haryana, India. The platform aggregates real-time travel information, prices, and availability for flights, trains, buses, and hotels, enabling users to plan, book, and manage their trips efficiently.
Over the years, ixigo has expanded its services and made strategic acquisitions to improve its offerings.
In June 2024, ixigo went public, listing on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
The company’s vision is to become the most customer-centric travel platform, delivering the best user experience by leveraging artificial intelligence, machine learning, and data science-led innovations.
In Q3 FY25, ixigo posted a revenue of INR 242 crore, marking a 41.5% year-on-year increase from INR 171 crore in the same period last year. The company’s net profit dropped by 49.3% to INR 15.5 crore in Q3 FY25 from INR 30.6 crore in Q3 FY24.
By continually investing in its employees and expanding its services, ixigo aims to maintain its competitive edge in the rapidly evolving travel industry.
The Haryana GST authorities have issued a demand order for INR 89.8 lakh to online travel aggregator ixigo. ixigo stated in an exchange filing that it was sent a demand notice by the assistant commissioner of Gurugram, Haryana, requesting that it pay INR 89.9 lakh in GST. In addition, the business has been ordered to pay INR 89.9 lakh in penalties and the relevant interest on this sum.
The company’s previous “export of services alleged as intermediary services” is the subject of the order. ixigo stated that it will appeal the order to the relevant authority. The exchange company said in a filing that it thinks it has a compelling case based on the facts. An appeal against the order will be submitted by the corporation to the relevant body.
GST Putting its Scanner on New Tech Firms
This occurs at a time when several cutting-edge tech firms have just received GST demand notices. One97 Communications, the parent company of Paytm, was hit with an INR 1.19 Cr fine on February 4. Vijay Shekhar Sharma, the founder and CEO of Paytm, was also fined INR 59.94 lakh. Paytm claimed to have received a GST demand notice for INR 3.73 Cr on the same day, coupled with an equal penalty and interest.
The food delivery giant Zomato, founded by Deepinder Goyal, most recently reported that the GST authorities have withdrawn a demand for INR 5.91 crore. The Additional Commissioner of CGST, Gurugram, made the demand, which covered the July 2017–March 2021 period and contained a penalty of INR 5.91 crore with interest.
Due mostly to tax charges, ixigo earlier this month reported a 49% drop in its consolidated net profit from INR 30.65 Cr in the year-ago quarter to INR 15.54 Cr in the third quarter of FY25.
Financial Outlook ixigo
The operating revenue of the travel tech platform increased 42% from INR 170.55 Cr in Q3 FY24 to INR 241.76 Cr in the reviewed quarter. Additionally, the business distributed 10.58 lakh equity shares to qualified workers last week through a number of employee stock option plan (ESOP) programs. On the BSE, ixigo’s shares closed on February 5 trading session up 2.79% at INR 158.25.
People who wanted to travel to a different city earlier had to go through a rigorous and cumbersome process of ticket booking and sorting out accommodations through offline mediums. What the country really needed was a portal that could shorten the worries of travelers through innovative travel planning products. This was when Aloke Bajpai and Rajnish Kumar founded Ixigo in 2007.
Ixigo, through its website and numerous mobile apps, wipes out the need for tourists to go through loads of information plus online travel contracts and facilitates curating a travel plan for satisfying and enjoyable experiences. It basically aggregates and then compares variants like real-time travel information in terms of prices and the availability of flights, trains, buses, cabs, hotels, packages, and destinations.
With Ixigo travel solutions, railway bookings, flight bookings, and the bookings of bus tickets, hotels, and more have been a cakewalk.
Read more about the Ixigo Founders and Team, it’s Story, History, Business Model, Revenue Model, Funding, Growth, etc in the article ahead.
Ixigo is India’s leading online plus mobile travel search plus planning website. A one-stop solution for travelers, it aggregates as well as compares the finest deals on hotels, flights, buses, trains, plus packages, and reviews the best travel facts from around 100+ travel websites to extend the most reliable travel information for the users.
Ixigo – How it Works?
Ixigo company stands out as a premier travel platform, boasting a stellar 4.6-star rating from the Google Play Store. It, a well-known exploration app with an easy-to-use UI and objective findings, has had two sister apps before. While the other helped consumers find relevant apps and discounts across e-commerce, hyperlocal services, online travel, and food delivery through advertisers, the former enabled contextual brand outreach to train passengers.
Notably, users could easily schedule interstate ride-sharing through BlaBlaCar with the Ixigo Trains app. This was especially helpful when there were limited train options or waitlists for tickets. Using this diverse strategy as a foundation, Ixigo has combined all of its services into one main app.
Rajnish Kumar and Aloke Bajpai are the Co-Founders of Ixigo.
Rajnish Kumar (Group CEO, Managing Director and C0-Founder) and Aloke Bajpai (Group CPTO and Co-Founder), Co-Founders of Ixigo
Aloke Bajpai
Aloke Bajpai is the Group CEO, Managing Director, and Co-Founder of Ixigo. An IIT Kanpur BTech Electrical Engineering alumnus, Aloke Bajpai, obtained an MBA, General Management from INSEAD and then an MBA, Exchange from The Wharton School. Bajpai started his career as a Software Engineer at Amadeus SAS, who was eventually promoted to the post of Sr Systems and Network Engineer.
He then served as the Vice President at Final Quadrant Solutions before launching Ixigo in 2007. He is also serving as the Director in Freshbus and Director in Confirmtkt.
Rajnish Kumar is known as the Group CPTO & Co-Founder of Ixigo. Like Aloke, Rajnish is also an IIT Kanpur alumnus from the Computer Science & Engineering department. He also interned at ETH Zurich in Data Modelling/Warehousing and Database Administration.
Rajnish also worked at Amadeus SAS as a Software Engineer and was then promoted to Sr. Software Engineer and Technical Lead. He then joined as a Director of Development at Isango! Kumar finally decided to found Travenues or Ixigo in 2006.
Ixigo was last reported to have close to 51-200 employees as per LinkedIn.
Ixigo – Startup Story
The entrepreneurial bug was always there inside the IIT Kanpur wingmates-cum-colleagues, Aloke and Rajnish. However, they were somewhere trapped in the 35-hour per week work rule at the French corporate Amadeus. To disentangle themselves from the clutches of the work life, both of them decided to leave their high-paying jobs in Europe and returned to India in 2006, fully geared up to follow their dreams. They rented a studio apartment in Gurgaon and set up their workplace.
In the initial phase, the Ixigo founders didn’t have a clue of what they were going to do with the entrepreneurial itch that they nurtured, but soon they found out how painful was making travel bookings for several destinations in India was. This gave them the impetus to start up with a travel meta search website for flights in India in 2007. For a year, they worked with no salaries. Over their persistence, ixigo was born.
The only passion behind the company was the vision to build a product to help Indian travelers search and compare hotel information at the same place online and make their lives relatively easier. It was launched in a nascent online travel segment that has since thrived to become one of India’s most viable companies.
“At ixigo, corporate social responsibility lies at the center of our vision and mission”, says the ixigo website.
The Gurgaon-based traveltech startup mainly focuses on empowering the Indian travelers to plan, book and manage their trips effortlessly whether it is the railways, airways, roadways or hotel stays.
Ixigo – Name and Logo
Ixigo Logo
Ixigo – Services
Ixigo Flight Booking Services enables the users to easily book, and monitor flights through the Ixigo app or its website.
Ixigo Flight Booking Services – Ixigo App
Ixigo has already acquired Confirmtkt, and with this app and its inherent app, Ixigo enables fast, easy, and guaranteed booking of train tickets.
Ixigo Train Booking Services – Ixigo App
Ixigo helps the users book buses in an instant via its bus booking services, which is now available on its app itself.
Ixigo Bus Booking Services – Ixigo App
For Ixigo Hotel Bookings, Ixigo has partnered with Booking.com. Though Ixigo doesn’t directly handle the hotel bookings, it facilitates easy and affordable booking of hotels via its partner Booking.com, where the users are redirected as soon as they click on Ixigo Hotels option.
Ixigo Hotels Booking Services – Ixigo App
Ixigo – Products and Features
Ixigo has various products and features. Some of the prominent products and features are:
PLAN
On July 10, 2023, Ixigo unveiled PLAN, an intelligent travel planner powered by OpenAI, a startup that conducts AI research and deployment. Through the utilization of OpenAI’s ChatGPT API, the platform is able to effectively process and comprehend customer preferences, providing them with customized suggestions, itineraries, and recommendations. Additionally, Ixigo is now the only travel agency in India to offer the Ixigo ChatGPT plugin.
bhAI
On April 1, 2023, the travel app introduced bhAI, a new AI-powered headset. This “first-of-its-kind” Bluetooth headset with AI, according to the manufacturer, is intended to help travelers.
Ixigo – Business Model
Ixigo’s business model is compatible with an airport’s requirements since it allows an unbiased comparison of all the available choices, aiding the travelers in deciding which website they should book through, rather than hanging midway in the deal. It mainly serves as an intermediary between the user and a travel booking website and earns commission on each booking.
Besides, the innovative features, for example, the 180-day fare viewpoint, direct booking of airline tickets through the website, and the feature-rich hotel exploration mechanism make this portal tremendously user-friendly. Ixigo’s meta-search business model associates travel contracts from 100+ travel sites and have aided millions of explorers to save time and money on their trip.
In April 2016, it also launched a meta-search application for cabs, which was initiated to generate revenue for the company. As an extension to revenue generation, the company also has an in-app booking alternative that permits the users to book on their website itself using a third-party power-driven app.
Ixigo – Revenue Model
Ixigo makes revenue from different resources; some of the prominent ones are:
Reservation Fees: By charging customers for the reservation of different transport services, such as bus, train, and airline tickets, Ixigo makes money.
Revenue from Rail Tickets: Ixigo offers consumers a convenient platform for making rail travel reservations, with a substantial percentage of its revenue coming from fees associated with reserving train tickets.
Revenue from Airline Tickets: By charging customers a fee to buy airline tickets, the platform meets the varied travel demands of its user base and generates revenue.
Revenue from Advertising: Through partnerships with advertisers, Ixigo expands its revenue stream by showcasing bargains and pertinent material to its user base.
Ixigo faced a number of obstacles with its user engagement approach, especially with regard to concentrating on the instant activity that happens after downloading an app. The business noticed a drop in user activity at this critical juncture and set out to redesign the onboarding process to guarantee both a strong initial impression for new users and long-term retention.
Ixigo also attempted to employ technology to evaluate the influence of complex design and personalization on email and push notification conversions, realizing that a careful balance was necessary to properly increase user engagement.
The decline in first-time consumers’ repeat transactions was another major obstacle for Ixigo. The difficulty was figuring out how to enhance the initial experience before, during, and after the booking process, since this was crucial in getting customers to do additional transactions.
In order to overcome the obstacles encountered and guarantee a smooth, user-centered experience, Ixigo had to proactively manage these digital touchpoints in the world of online contacts, where emails functioned as the starting point for user conversations and conversions.
Ixigo – Funding and Investors
Ixigo has raised a total of $72 million in funding over 7 rounds.The last round that Ixigo had seen came on October 20, 2021.
Ixigo’s shareholding pattern as of May 2024, sourced from Tracxn:
Ixigo Shareholders
Percentage
Rajnish Kumar
8.4%
Aloke Bajpai
8.0%
Elevation Capital
22.9%
Sequoia Capital
15.4%
Gamnat
9.5%
Trifecta Capital
3.2%
Malabar Investments
2.6%
Invesco
3.1%
India Acorn Fund
1.5%
Orios Venture Partners
0.7%
Madison India Capital
0.8%
Info Edge Ventures
0.5%
Fosun Kinzon Capital
0.5%
Planify
< 0.1%
IndigoEdge
< 0.1%
BAF Spectrum
–
RAJ Family Foundation
–
3ADeal
–
Angel
–
Total
77.1%
Ixigo Shareholding
Ixigo – Investments
Ixigo made two key investments: on November 1, 2022, it contributed to FreshBus during a seed round, and on March 3, 2020, it participated in the capital round for gogoBus. These expenditures demonstrate Ixigo’s dedication to promoting innovation and expansion in the travel and associated industries.
Has 400 million annual active users as of October 2024
Has 76.78 million monthly active users as of 2024
Connects over 80 million travelers as of May 2023
It had over 6 million daily active users as of May 2023
It is growing at a velocity of over 8 million downloads as of May 2023
It has a run-rating 50 million bookings on a yearly basis
Ixigo – Financials
Over the past five fiscal years, Ixigo has demonstrated significant growth in revenue and profitability, reflecting its expanding presence in the travel industry.
Particulars
FY24
FY23
FY22
FY21
FY20
Total Revenue
INR 665.1 crore
INR 517.6 crore
INR 384.9 crore
INR 138.4 crore
INR 113 crore
Total Expenses
INR 627.8 crore
INR 484.3 crore
INR 402.5 crore
INR 135.7 crore
INR 139.6 crore
Profit/Loss
INR 73.1 crore
INR 23.4 crore
INR -21.1 crore
INR 7.5 crore
INR -26.6 crore
Ixigo Financials FY24
In FY24, Ixigo reported a total revenue of INR 665.1 crore, marking a 28% increase from INR 517.6 crore in FY23. Expenses also rose to INR 627.8 crore in FY24, up from INR 484.3 crore in FY23. Despite the increase in costs, the company’s net profit surged to INR 73.1 crore, more than tripling from INR 23.4 crore in FY23. This marks a significant turnaround from losses of INR 21.1 crore in FY22 and INR 26.6 crore in FY20, showing strong financial growth and improved profitability over the years.
Ixigo Revenue Breakdown
Revenue Source
FY24
FY23
Revenue from Operations
INR 655.91 crore
INR 501.3 crore
Other Income
INR 9.2 crore
INR 16.3 crore
Total Revenue
INR 665.1 crore
INR 517.6 crore
The revenue from operations grew by approximately 31% from INR 501.3 crore in FY23 to INR 655.9 crore in FY24, indicating a strong performance in Ixigo’s core business activities.
Ixigo Expense Breakdown
Expense Type
FY24
FY23
Employee Benefit Expense
INR 141 crore
INR 126.3 crore
Finance Costs
INR 2.9 crore
INR 0.9 crore
Depreciation and Amortization
INR 12.9 crore
INR 10.8 crore
Other Expenses
INR 471 crore
INR 346.3 crore
Total Expenses
INR 627.8 crore
INR 484.3 crore
Total expenses increased by approximately 30% from INR 484.3 crore in FY23 to INR 627.8 crore in FY24, with significant rises in employee benefits and other expenses.
Ixigo Profit/Loss:
Profit Metrics
FY24
FY23
Gross Profit
INR 38.1 crore
INR 33.3 crore
Operating Profit
INR 61.1 crore
INR 20.7 crore
Net Profit
INR 73.1 crore
INR 23.4 crore
Ixigo’s net profit saw a substantial increase, more than tripling from INR 23.4 crore in FY23 to INR 73.1 crore in FY24, highlighting improved operational efficiency and profitability.
Quick Summary
Revenue Growth: Ixigo’s total revenue grew by approximately 28% in FY24 compared to FY23, driven by a 31% increase in revenue from operations.
Expense Increase: Total expenses rose by about 30% in FY24, with notable increases in employee benefits and other expenses.
Profit Surge: Net profit more than tripled, reaching INR 73.1 crore in FY24, indicating enhanced profitability and operational efficiency.
These financial trends suggest that Ixigo is effectively scaling its operations while maintaining profitability, positioning itself strongly in the competitive travel industry.
Ixigo – IPO
Shares of Le Travenues Technology, the parent company of Ixigo, had a robust debut on the stock exchanges on June 18. The stock listed at Rs 138.10 on the NSE, reflecting a 48.5% premium over its issue price of Rs 93. Similarly, on the BSE mainboard segment, the stock listed at Rs 135.00 per share, marking a 45.16% premium over the IPO issue price of Rs 93. The Mainboard Le Travenues Technology IPO (Ixigo) was a book-built IPO priced at the upper end of the band at Rs 93 per share.
Ixigo – Partnerships
Ixigo has partnered with a number of organizations to date. Some of its partnerships/collaborations include:
Partnership with Flipkart to enhance the Flipkart flight bookings
Partnership with Indira Gandhi International Airport to help the passengers with the airport’s website.
Ixigo partnered with Andhra Pradesh State Road Transport Corporation (APSRTC) to help set up, design, configure, and maintain a ‘Unified Ticketing Solution’ (UTS) on the Cloud Platform of APSRTC.
Ixigo – Sponsorship
On August 21, 2023, India’s travel booking platform revealed that it would be the Men’s Asia Cup 2023’s “official sponsor.” Ixigo has never before been connected to a significant athletic event of this kind.
From August 30 to September 17, 2023, Pakistan and Sri Lanka will jointly host the Men’s Asia Cup.
Ixigo – Marketing Campaign
Ixigo – Marketing Campaign
This campaign brings back memories of the train era when we witness an astronaut outside the spacecraft waving a tea kettle, floating, and exclaiming “Chai Chai” after a tea vendor, just as we frequently do on buses or trains.
Ixigo – Awards and Achievements
Here are some highlights of the awards and recognition that Ixigo has gained thus far:
Won the Bronze Abby at the Goa Fest 2014 for its famous ‘don’t travel Patti bandh ke’ television commercial.
Felicitated with a gold at the Indian Digital Media Awards (IDMA) 2014 for its PNR status app
Received a silver Echo award in 2014 by the Direct Marketing Association International (DMAI) for the brand’s efforts in content marketing
Has been recognized as the fastest-growing travel company in India in the Economic Times’ 2020 growth champions report
Featured in the Discover Channel’s ‘India Startup Stories’ as a leading startup
Declared as the winner of the New code of Work Awards in the mid-size business category
The media company, Skift, recognized Ixigo among the 6 best homegrown online travel players in the Indian travel sector
Ixigo – Competitors
Ixigo has a whole lot of competitors in the market. Starting from a private applications like MakeMyTrip, GoIbiboto government applications like IRCTC train booking, the market is filled with online booking and transaction-facilitating portals. With it, indulging in both conveyance and accommodation, the range of competitors it faces gets doubled.
Ixigo – Future Plans
Ixigo, a prominent online travel aggregator in India, has re-filed its Draft Red Herring Prospectus (DRHP) with SEBI on February 14, 2024, indicating its intention to go public through an Initial Public Offering (IPO), marking a key step toward its ambitious goals for the future.
The IPO is set up to comprise a new offering of 120 crore rupees, highlighting Ixigo’s calculated decision to raise money for more growth and development. In addition to the new offering, 6,66,77,674 equity shares are part of an Offer for Sale (OFS) component that gives current shareholders, such as SAIF Partners, Peak XV Partners, Micromax, and others, the chance to sell their shares.
Notably, with a 26% increase in Ixigo’s revenue from INR 206.47 crore in Q2 FY25 from Q2 FY24, Ixigo stands out as a unique and successful company in the Indian online travel tech startup scene. Ixigo’s strong financial results set the company up for growth, innovation, and sustained profitability as it prepares to go public and establish itself as a major player in the travel technology industry.
FAQs
What is Ixigo?
If you are wondering about the Ixigo app, then this app will help you find your travel solutions. The Ixigo app will help you monitor and book flights, trains, buses, hotels, and more.
How to create account on Ixigo?
Creating an Ixigo account is really easy. For this, one just need to Sign up on the Ixigo website or via the Ixigo app, and then register themselves on Ixigo. After this is done, followed by some other verifications, he/she would be able to login to the Ixigo portal and go about their bookings.
What does Ixigo do?
Ixigo is a travel tech company that helps users book flights, trains, buses, and hotels through its platform.
What is Ixigo net worth?
Ixigo’s overall market cap stands at INR 6,420 crore as of 2024.
Who owns Ixigo?
Rajnish Kumar and Aloke Bajpai are known as the Ixigo owners.
How does Ixigo make money?
Ixigo mainly serves as an intermediary between the user and a travel booking website and earns a commission per booking. Ixigo’s meta-search business model associates travel contracts from 100+ travel site.
How much Funding has Ixigo raised?
Ixigo has raised a total of $72 million in funding over 7 rounds. Their latest funding was on October 20, 2021, from a Debt Financing round.
Is Ixigo government or private company?
Ixigo is a public company, it went public on Jun 18, 2024.
Under many employee stock option plan (ESOP) strategies, online travel aggregator (OTA) ixigo has distributed 10.58 lakh equity shares to qualified employees. The travel tech startup stated in a filing with the markets that the shares were offered at a premium of INR 0.25 per share and an exercise price of INR 1.25 per share.
The company announced that 10,58,143 fully paid-up equity shares with a face value of INR 1/- each have been allotted to the option holders under the Le Travenues Technology – Employee Stock Option Scheme 2013,…, ESOS 2016,…, 2020,…, 2021…, according to the company’s statement. The board of directors of the company has approved the allocation. Since the allocation, the travel tech platform’s entire paid-up share capital has increased from INR 38.87 Cr to INR 38.97 Cr.
Step is Taken to Encourage and Retain
ixigo added that the purpose of the ESOPs was to “motivate and retain” bright workers and give them “additional deferred rewards.” This comes after the business distributed over 4.6 lakh equity shares under different ESOP plans in December 2024. Before this, in November, the OTA granted 17.57 lakh more stock options under the ESOP 2024 scheme, increasing the size of its ESOP pool.
Financial Outlook of ixigo
The announcement coincided with the OTA’s financial results for the third quarter (Q3) of the fiscal year 2024–2025 (FY25). Ixigo’s consolidated net profit fell by half to INR 15.54 Cr in the quarter under review from INR 30.65 Cr in Q3 FY24 due to increased tax charges. In the meantime, operating revenue increased 42% to INR 241.76 Cr in Q3 FY25 from INR 170.55 Cr in Q3 FY24. In terms of operations, Ixigo’s gross transaction volume (GTV) increased by 48% from INR 2,718.3 Cr in Q3 FY24 to INR 4,036.3 Cr during the quarter.
ESOP is Getting Popular Among Startups
According to a 2024 survey of 160 companies, 78% of them offered employee stock option plans (ESOPs) to their staff, a considerable increase from 59% in 2021. This indicates that ESOPs are becoming more and more popular among startup owners. More firms are now offering ESOPs to all employees, not only senior management, according to a survey done by Saison Capital, XA Network, and Carta. Compared to one in four in 2021, one in three firms now provides these plans to all employees.
Furthermore, the median ESOP pool size grew from 9% in 2021 to 12.6% in 2024, and 90% of founders now talk about ESOPs with candidates during interviews or job offers, up from 75% in 2021. Additionally, the reasons for providing ESOPs have changed; in 2024, 40% of founders cited cost reductions, up from 28% in 2021.
The founders cited the necessity to retain people as the second most important reason for putting these plans into action, behind creating a sense of ownership and company culture. Even with this increase, fewer than 30% of founders still fully understand the complexity of ESOPs, a percentage that hasn’t changed since 2021.
The Maha Kumbh Mela of Hindus, celebrated 144 years ago, is a religious event that is attended by millions of pilgrims from all over the world. The pilgrims are from far away to four places in India – the Holy cities of Prayagraj (Allahabad), Haridwar, Ujjain, and Nashik. Based on Hindu philosophy, the holy dip in the sacred rivers present at these places will purify the soul and grant deliverance from the worldly cycle of birth and death. Also linked with some stories from the ancient Hindu scripture and mythology is the age-old belief about the falling of drops of the divine nectar of immortality at any of these sacred spots.
The Kumbh Mela has references dating back to the Rigveda and the 3rd century BCE. However, this festival became very powerful in the 7th century AD when King Harsha arranged grand gatherings at Prayagraj. Today, it is one of the biggest peaceful gatherings in the world, uniting culture and spirituality. Seekers from several regions attend the festival for bath-taking activities, sage lectures, and vibrant cultural exchanges, which showcase India’s cultural repertory.
Maha Kumbh Mela offers brands an opportunity to connect with millions of people in Prayag’s mobility and shape strategies that align the campaign with the event’s inherent spiritual essence. The campaign could also provide customized add-on services, such as travel insurance, and experiential marketing. The advertising glut could be as high as INR 3,000 crores as brands fight it out in a strategic duel of brand and product choice placement and direct new customers to centers of consumption.
Let’s explore some exemplary marketing campaigns done by some popular brands.
The “Dettol Banega Swasth India” (DBSI) Dettol’s campaign is capitalizing on the 2025 Maha Kumbh Mela to fight for public hygiene and health for millions of pilgrims. The program will involve deploying hundreds of thousands of soaps at the food service areas to instill the habit of washing hands before and after eating. In addition, Dettol is also assisting sanitation workers by training about 15,000 staff and providing hygiene products to ensure cleanliness across the period. Health and hygiene volunteers will be on duty to help pilgrims with their orientation promoting civic involvement and hygiene promotion at the community levels. For authentic cultural resonance, the campaign utilizes street plays and puppet shows featuring hygiene messages. Dettol is a constant presence (2016) and a trusted public health partner, in line with India’s vision of a healthier country by 2047.
Eveready Industries India Limited is undertaking a focused promotional drive at the 2025 Maha Kumbh Mela, to enhance this experience for the large number of pilgrims. The program entails the mounting of 13,000 LED lights at the Mela site, which provides bright illumination and enhances safety, particularly during nighttime hours. Eveready’s energy-saving lighting promotes sustainability as well as accident reduction and provides conveyance for the attendees. In this work, the brand is bestowed with a socially equitable status focused on the public good and uses its products as vehicles to represent the spiritual and cultural heart of the festival occurring. This campaign is aimed at strengthening the relationship with consumers among Eveready, creating goodwill, and furthering its brand image as an innovative company and responsible corporation.
Uber
In collaboration with the Airports Authority of India (AAI), Uber has launched a strategic campaign to improve the transportation services during the Maha Kumbh Mela 2025 at Prayagraj airport, with the potential for 40 crore believers to visit. The plan covers airport terminal collection areas, clearly posted with signs and assistance for smooth transfers. Uber is providing a 25% discount (maximum ₹200) redeemed for airport-to-airport travel to promote the travel. The campaign provides effective mobility options for attendees while also providing income-generation alternatives for local drivers. With its app, Uber delivers an easy-to-use system for ride bookings that is tailored to the specific transport needs of this large-scale event and reaffirms its support of reliable, community-driven services at large-scale events.
Coca-Cola India has a significant presence at the Maha Kumbh Mela 2025, where its programs revolve around hydration, sustainability, and cultural interaction. The brand will provide access to beverages such as Coca-Cola, Thums Up, Sprite, Maaza, and Fanta every 400 meters along the event site, to retain the participant’s hydration. Special Maha Kumbh edition packaging is a semblance of India’s heritage. Hydration carts and food activations will add to the culinary experience of visitors. Coca-Cola’s Maidaan Saaf campaign fosters sustainability through the distribution of 21,500 recycled PET jackets to sanitation workers, the installation of recyclate plastic playrooms, and the use of Reverse Vending Machines for waste recycling. With immersive experiences and recycling consciousness, Coca-Cola enhances festivities and provides sustainability and community support.
Dabur
Dabur is utilizing diverse innovative marketing techniques for Maha Kumbh Mela 2025 to access pilgrims and visitors. The activity consists of product sampling in streetside dhabas and food joints in Prayagraj, where, for example, popular brands like Hajmola are being promoted to induce trial and knowledge of the brand. The company is fitting out oral hygiene stations with automatic toothpaste dispensers and highlighted that health and hygiene are of paramount concern for the company. Family-friendly amenities, including female baby rooms and baby care rooms with Dabur products, are incorporated to add value to the delegates’ experience. In addition, Dabur is investing in brand activation, to foster deeper cultural bonds between the brand and customers, and attempt to access the market of a growing rural population where demand for healthy and wellness products is exploding.
In a new proposal, the footprint of Amazon India could be in Maha Kumbh Mela 2025 and one of its contributions is meant to provide relief to the pilgrims there. The company is distributing free upcycled cardboard beds in the prescribed locations of the festival (i.e., Kumbh Police and hospital staff). This sustainability-based work reuses the cardboard packaging boards from an environmentally resistant bed. Amazon collaborated with Ogilvy and specialist fabricators to provide robustness. After the event, Amazon will responsibly recycle beds unsalvageable items and donate salvageable beds to local NGOs. Director of Marketing, Pragya Sharma, pointed out this program is a part of the larger vision of Amazon India to empower communities and offer ease during mega events such as the Maha Kumbh Mela.
Vodafone Idea
Vodafone Idea (Vi) is launching a comprehensive campaign for the Maha Kumbh Mela 2025, aiming to enhance connectivity anduser experience. The 5G company services will be rolled out to consumers by 2025 in 17 priority circles, beginning with major cities such as Delhi and Mumbai, to cater to high data needs for events. To ensure reliable connectivity Vodafone Idea is setting up more than 46,000 new network sites and modernising 58,000 existing sites. The company will offer affordable 5G plans to attract customers away from competitors. Second, Vodafone Idea is planning to expand its 4G coverage to 90% of the Indian population by June 2025. Strategic partnership and participation of the community will result in deeper penetration of the platform at the Mela.
PhonePe
PhonePe enhance the digital payment experience during the Maha Kumbh Mela 2025 such that they are not interrupted in their ability to use the service to access transportation, food, and lodging. With almost 47% of the UPI market, PhonePe will handle a massive volume of transactions that will ensure speed and stability. The platform also offers a cross-border payment function, which can be used to settle transactions by international tourists. Through a range of community engagement activities, PhonePe will promote digital inclusion and financial literacy. Novel abilities such as voice-enabled point-of-sale payment and artificial intelligence (AI)-based fraud prevention will add to convenience and security even more. Collaborations with local merchants ensure widespread service accessibility. Carrying out this heavy traffic scenario, PhonePe aims at enhancing the degree of the interaction among the user and the marketspace while positively supporting the financialization of India.
Ixigo is customizing the trip for the Maha Kumbh Mela 2025 participants with a series of facilities, tools, etc. On the platform, there has been a 187% rise in train reservations for Prayagraj, which reflects an escalating demand for travel to the Mela. In particular, 57% of bookings are from single travelers, of whom 39% are female, indicating changing travel patterns. Ixigo provides functionality for comparing train schedules, making tickets, and getting actual travel information. Ixigo, partnering with Indian Railways, provides special trains or services during the Mela. On the other hand, the platform may also provide combined trip and lodging packages. Ixigo nurtures its users with safety-related travel advice and the details of the local culture, making it the traveler of choice for Mela-bound travelers.
Park+ is leveraging advanced parking solutions to enhance the Maha Kumbh Mela 2025 and is the official parking partner. The platform will provide the city of Prayagraj’s first smart parking system based on artificial intelligence (AI), offering the pilgrims an easy method of reserving and prepaying for parking spaces through the Park+ application. Coupled with FASTag payments, the system offers a fast and cashless payment system. The app will be used to offer navigation at more than 30 parking lots that are government-approved and have a total of 500,000 parking locations. Park+ will also offer 24-hour security, electric vehicle charging, medical assistance, food and drink service, and bathroom facilities. Using predictive AI, the architecture will enhance parking space allocation. By working together with Indian Oil, users will be offered fuel-price discounts, thus providing a stress-free and easy-flow parking experience.
Conclusion
In conclusion, Maha Kumbh Mela 2025 provides a novel chance for a wide array of brands and service providers to improve the lives of millions of pilgrims. Companies such as Dettol, Coca-Cola, Amazon India, Vodafone Idea, PhonePe, Ixigo, and Park+ are adopting new ideas and projects around health and connectivity, ease, and sustainability in life. Using technology and community involvement, these companies not only aim to address the possible challenges of logistics but also to add new value to the cultural and religious meaning attached to the congregation. In line with these plans becoming a reality, these methods are intended to guarantee a seamless and meaningful journey for the participants, which is a natural consequence of the importance of cross-communication and innovation in the planning of large-scale events.
FAQs
Why is 2025 Kumbh special?
This special Maha Kumbh Mela marks the completion of 12 Kumbh Mela cycles, making it a once-in-144-years event. It is set to span 44 days and is estimated to draw approximately 400 million visitors.
What are Maha Kumbh 2025 dates?
The dates for Maha Kumbh 2025 are Mon, 13 Jan 2025 – Wed, 26 Feb 2025.
How often is Maha Kumbh Mela?
Maha Kumbh Mela is approximately every 6 and 12 years.
Ixigo’s visionary co-founder, Aloke Bajpai, has reimagined the travel tech business in India. From a tech-savvy student at IIT Kanpur to the man behind one of India’s leading AI-powered travel platforms, his journey is a story of innovation, perseverance, and a forward-thinking approach.
Bajpai first honed his skills at global travel tech company Amadeus before co-founding Ixigo with Rajnish Kumar back in 2007. Their idea was simple yet revolutionary: The idea to develop a technology-based meta-search engine to ease the travel process for travellers in India and make their journeys faster and more efficient is what they wanted to push.
In this StartupTalky story, we will cover his early life, his struggles, Ixigo Group’s founding, and more. We will look at how innovative Aloke Bajpai has been in becoming a business tycoon.
Aloke Bajpai: Biography
Name
Aloke Bajpai
Birth Place
Gurugram, Haryana
Education
B.tech, Indian Institute of Technology, Kanpur (IIT) General Management, MBA, INSEAD MBA, The Wharton School Methodist High School
Profession
Founder, Chairman, Managing Director & Group CEO at Ixigo
Aloke Bajpai’s early life marked the beginning of his future achievements. Bajpai grew up in India and has always shown a knack for technology and problem-solving. An exceptional aptitude for academics, in math and sciences in particular, marked his early education, which led him to pursue engineering later in life.
A passion for excellence and innovation drove Bajpai and he went on to pursue his undergraduate studies at one of India’s top engineering institutes, the Indian Institute of Technology (IIT) Kanpur. He developed his analytical skills and learned engineering fundamentals at IIT, majoring in electrical engineering. At this time, he was developing his technical skills and his ability to solve complex problems in a methodical waythat would prove useful in his entrepreneurial career.
After graduating in 2001, Bajpai went to Europe, joining Amadeus, a global leader in travel technology. It expanded his horizons and gave him an idea of how digital product management at the scale works. His experience at Amadeus, particularly on web-based products, only increased his interest in the digital travel industry and helped shape his vision for Amadeus’ future. At that time, Bajpai saw the possibility of the sector featuring new solutions, especially in the Indian travel market, which he felt was ready to be disrupted.
Having a strong background in technology, Bajpai chose to strengthen his business skills with an MBA from INSEAD. He not only learned the basics of business management but also got a global perspective of entrepreneurship here. He was surrounded by peers from various backgrounds; this interaction helped him sharpen his strategic thinking and increased his understanding of market dynamics. Aloke’s time at INSEAD bridged his technical background with business acumen and helped him launch ixigo in 2007.
Aloke Bajpai has become a leading and dynamic technology and travel sector leader with over two decades of experience. His journey to be a systems & network engineer at Amadeus, then a software engineer was truly inspiring. During his early days at Amadeus, he was an expert in network operations, and security and a Linux and Apache evangelist. This foundational experience resulted in his deep understanding of the complexity of systems and operational scalability in the travel technology domain.
Aloke Bajpai co-founded Ixigo in 2007, a leading AI-powered travel app that has emerged as a central pillar of the digital travel ecosystem in India. Since then, he has played a key role in bringing ixigo to become one of India’s leading platforms, serving to the next billion users in travel. And under his visionary helm, ixigo added platforms like Confirmtkt and AbhiBus to its footprint which reaffirmed his business acumen in the technology-driven travel market.
Aloke Bajpai is a seed investor at Freshbus, an electric long-range intercity bus service. His forward-thinking approach to sustainable transportation shows his commitment to modern, tech-driven solutions to some of the world’s biggest challenges. In addition, Bajpai is the Director at Confirmtkt, one of the ixigo group’s leading ticketing platforms for train travel in India.
Aloke Bajpai’s career is a fine example of how a man with deep knowledge and foresight can lead an organization and is respected by the Indian business community. His work continues to inspire and influence the future of digital travel and technology, cementing his place as a true pioneer in his field.
Aloke Bajpai: Ixigo
Aloke Bajpai’s story is one of remarkable tenacity, foresight, and an unstinting commitment to use technology to make millions of Indian users’ travel experiences better. Ixigo was conceived in 2007 by Rajnish Kumar and Bajpai as a meta-search engine for travel. Ixigo was based on the belief that India’s travel landscape was in dire need of a more consumer-centric approach. Bajpai and Kumar are both graduates of IIT Kanpur and former colleagues at the travel tech firm Amadeus, and they saw a need for a platform that would empower travelers by facilitating their travel plans and booking through robust data and artificial intelligence.
Co-founders started Ixigo modestly in a single-room office in Gurugram with less than INR 20 lakhs in savings between the both of them. It began as a meta-search engine that would aggregate deals from various travel websites and amassed 100,000 users in just six months without spending anything on marketing. The organic growth behind the founders’ resourceful approach was delivering value through product innovation and overspending on advertisements. The founders’ deep understanding of travel tech, along with their focus on developing a great user experience, drove the initial traction.
In 2021, ixigo made a strategic pivot into India’s underserved train and bus travel markets, which resulted in accelerated growth in its user base. ConfirmTkt, a waitlist prediction and train ticket booking platform, was acquired by ixigo as part of the company’s commitment to this segment, giving it a market that few had ventured into. This has turned out to be a prescient decision; today, ixigo is India’s largest train ticketing platform, responsible for INR 501 crore in operating revenue in FY23, with train and bus bookings accounting for a significant part of this.
The high point in the journey of Ixigo was when it was launched on the 2024 Indian stock exchange. Moreover, the share of the parent company of Ixigo, Le Traveneus Technology, which was opened at a very high premium was the reflection of the confidence stakeholders have in the company’s future growth.
Ixigo’s impressive listing and market performance were markers of its evolution from a fledgling startup to a major player worth about INR 6,275.87 crore. This was not just a financial milestone but a testament to the vision of Bajpai and Kumar to change the way travel was undertaken by Indian users, powered by technology and user experience.
The CEO and co-founder of the online travel and hotel booking platform Ixigo, Aloke Bajpai, has been under fire after a reported security breach that exposed the data of 18 million users. The controversy first hit the headlines when the company issued an alert to its 100 million users after an alleged data breach, telling them to change their passwords. But Bajpai has said publicly that at present there is no evidence of a breach, and the investigation is underway with the help of security experts.
However, the company’s response has not been well received. It also came just days after the alleged hack and raised concerns that the company had not communicated adequately with its users about the risks. Several critics have asked, whether Ixigo had done enough to counter the breach or was proactive enough in its response to the breach.
Ixigo also defended its data security practices, noting that it stores only names and email IDs, not passwords, which are encrypted using a hashing algorithm. Even if someone gains access to the stored data, he said, they would not be able to access passwords, which are hashed and nearly impossible to unhash.
He added that most users log in through Google or Facebook accounts, which employ two-factor authentication to keep out intruders.
The incident has also opened a wider discussion over tech companies’ security protocols and what could happen if data is breached in an increasingly digital world. Bajpai says Ixigo’s infrastructure is still secure and no user accounts have been compromised, but the scandal has drawn attention to the company’s practices and its handling of sensitive user information in a highly insecure online world.
Aloke Bajpai: Awards and Recognition
Comeback Kid category at the Economic Times Startup Awards 2021
Entrepreneur of the Year Award in Service Business—Travel 2021 at the Entrepreneur Awards 2021.
He was also awarded with the Distinguished Alumnus Award 2022
FAQ
Who is the owner of ixigo?
The owners of ixigo are Aloke Bajpai and Rajnish Kumar, who co-founded the company.
Is ixigo profitable?
Yes, ixigo is profitable. It achieved profitability in recent years, driven by its focus on cost-efficiency and growth in the travel tech sector.
How old is ixigo?
ixigo was founded in 2007, making it 17 years old as of 2024.
