Acquisition · Commerce & Consumer Brands

Ixigo acquires Spanish train ticketing firm Trenes for Rs 125 crore

By Startup Enthusiast · 25 February 2026

What they do

Ixigo acquired a 60% majority stake in Spain-based Trenes for around Rs 125 crore

Ixigo has an option to buy the remaining stake in Trenes later

Ixigo reported a 55% profit increase to Rs 24 crore in Q3 FY26

Ixigo has acquired a 60% majority stake in Trenes, a Spain-based online train ticketing platform.
The acquisition cost is approximately Rs 125 crore according to the facts provided.
Trenes will operate as an ixigo step-down subsidiary under the new ownership structure.
Ixigo retains an option to buy the remaining stake in Trenes at a later date.
This move expands Ixigo's international presence into the European rail travel market.
Simultaneously, Coronation Fund Managers Ltd increased its holding above the 5% threshold.
Coronation purchased 1,83,322 equity shares on the open market to reach this level.
South African asset manager Prosus also increased its stake to approximately 15% via off-market transactions.

The acquisition signals Ixigo's strategy to diversify beyond domestic Indian travel services.
Entering the Spanish market allows Ixigo to tap into high-volume European rail traffic.
The deal demonstrates strong investor confidence in Ixigo's growth trajectory and expansion plans.

Ixigo operates as a comprehensive travel search and booking platform for consumers.
The company facilitates bookings for flights, hotels, and trains across various destinations.
Trenes adds specialized online train ticketing capabilities to Ixigo's existing product suite.
The business model relies on commissions and fees from travel service providers.
Ixigo generates revenue primarily through its digital platform connecting travelers with vendors.
The company operates globally with specific focus areas in Asia and Europe.
Trenes contributes operational expertise in the European rail ticketing sector.
Ixigo manages its international subsidiaries through structured corporate entities like step-downs.
The platform serves millions of users seeking convenient travel planning solutions.

Coronation Fund Managers Ltd (existing) — South Africa-headquartered asset manager listed on the JSE.
Prosus (existing) — Investment company that increased its stake to approx 15%.