Online travel aggregator (OTA) ixigo has allocated 10.58 lakh equity shares to eligible employees under its various employee stock option (ESOP) schemes.
In a regulatory filing, the travel tech startup stated that it issued the shares at an exercise price of INR 1.25 per share, with an additional premium of INR 0.25 per share.
“… We hereby inform you that the board of directors of the Company…has approved the allotment of 10,58,143 fully paid up equity shares having a face value of INR 1/- each under the exercise of stock options under Le Travenues Technology – Employee Stock Option Scheme 2013,… ESOS 2016,…ESOS 2020,…ESOS 2021…, by the option holders,” said the Company.
After the allotment, the total paid-up share capital of the travel tech platform now stands at INR 38.97 Cr compared to INR 38.87 Cr.
ixigo also said that it allowed the ESOPs to “motivate and retain” talented employees and provide “additional deferred rewards to employees.” This move follows the Company allotting more than 4.6 Lakh equity shares under various ESOP schemes in December 2024.
In November, the online travel aggregator (OTA) expanded its ESOP pool by granting an additional 17.57 lakh stock options under the ESOP 2024 scheme.
This development coincided with ixigo’s financial results for the third quarter (Q3) of the financial year 2024-25 (FY25). Due to rising tax expenses, the Company’s consolidated net profit dropped by 50% to INR 15.54 Cr in Q3 FY25 from INR 30.65 Cr in the same quarter of the previous year. Meanwhile, revenue from operations saw a 42% increase, reaching INR 241.76 Cr in Q3 FY25 compared to INR 170.55 Cr in Q3 FY24.
On the operational front, ixigo’s gross transaction volume (GTV) surged 48%, rising to INR 4,036.3 Cr in the quarter from INR 2,718.3 Cr in Q3 FY24.