Le Travenues Technology has received approval for entering into definitive agreements to acquire a 51% stake in Zoop Web Services (Zoop) for a total consideration of Rs 12.54 crore including non-compete fee, subject to the completion of certain conditions precedent, through a combination of secondary and primary share purchases. Additionally, the company has the option to purchase the remaining stake in the future subject to fulfillment of certain conditions.
It is expected that the acquisition of Zoop will enable the company to leverage its large distribution reach among the train travellers and offer a superior online food ordering experience for train travellers. The acquisition is contemplated to be completed before the end of quarter ending December 31, 2024, subject to completion of conditions precedent and closing actions. The board of directors of the company at its meeting held on October 24, 2024, has approved the same.
Le Travenues Technology is an online travel agency (OTA) that enables travellers to book train, flight, and bus tickets as well as hotels via its OTA platforms under the brand name ‘ixigo’.
Company Name | CMP |
---|---|
IRCTC | 784.25 |
Transcorp Intl. | 31.85 |
Thomas Cook (India) | 204.80 |
TBO Tek | 1681.80 |
Le Travenues Techno | 165.30 |
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