Stake sale · Mobility & Logistics

Le Travenues sells 17.39% stake in FreshBus for ₹36.6 crore

By Startup Enthusiast · 13 August 2026

What they do

FreshBus operates electric intercity bus services across South India with close to 100 buses

Le Travenues sold 17.39% of its stake in FreshBus for ₹36.6 crore, reducing its ownership from 25.66% to 8.27%

The sale price was 3.4 times the original investment cost, made in October 2022 at ₹2,344 per share

FreshBus is an electric intercity bus startup operating in South India, with routes including Bengaluru-Tirupati and Hyderabad-Vijayawada.
Le Travenues Technology Ltd sold 17.39% of its stake in FreshBus to Twelve Stone LLP for ₹36.6 crore.
Twelve Stone LLP is owned by Sudhakar Reddy Chirra, founder and managing director of FreshBus, and Sasya Chirra.
Le Travenues had originally invested in FreshBus in October 2022, acquiring 68,258 compulsorily convertible preference shares (CCPS) at ₹2,344 each.
The sale price per share was ₹7,911, which is 3.4 times the original investment price.
Le Travenues' stake in FreshBus will fall from 25.66% to 8.27%, and FreshBus will no longer be classified as an associate company.
The transaction is expected to be completed by 30 August 2026.

Le Travenues has been actively acquiring and investing in travel and tech companies, including train booking platform Trenes and AI company Sqaas.
FreshBus had raised ₹87.5 crore in a Series A round in August 2024, led by Maniv Mobility with participation from Shell Ventures and Alteria Capital.
FreshBus previously raised ₹7.5 crore in a seed round from investors including CRED founder Kunal Shah and Rivigo founder Deepak Garg.
Sudhakar Reddy Chirra previously founded AbhiBus, which Le Travenues acquired in 2021 through a cash and stock deal.

FreshBus operates electric intercity buses across South India, with routes including Bengaluru-Tirupati, Bengaluru-Chennai, and Hyderabad-Vijayawada.
The company currently operates close to 100 all-electric buses and plans to scale its fleet to 125 buses shortly.
FreshBus serves around 5,000 passengers daily and offers online booking for AC and electric bus services.
The company also offers loyalty rewards through its Green Coins program, which allows passengers to earn and redeem points for discounts and cashback.
FreshBus provides real-time bus tracking, punctual services, and eco-friendly travel options to its customers.

Le Travenues Technology Ltd (seller) — Parent company of **ixigo**, a travel booking platform.
Twelve Stone LLP (buyer) — Owned by **Sudhakar Reddy Chirra** and **Sasya Chirra**.