Ixigo expands partnership with PhonePe for flight, bus & train bookings; check details

Online travel platform Ixigo on Monday announced expansion of its exclusive partnership with digital payments service provider PhonePe to offer flight and bus bookings apart from its existing partnership for train ticket bookings.

In an exchange filing, the company said that it will integrate services from Ixigo Flights, AbhiBus, and ConfirmTkt to provide travel booking options on the financial technology platform.

"The Ixigo-PhonePe partnership will enable over 54 crore PhonePe users to experience more comprehensive travel booking and utility services for flights, trains, and buses. Along with simpler payment processes, travellers can enjoy exciting discounts and offers on flight, train and bus bookings," the regulatory filing stated.

PhonePe users will be eligible to take advantage of advanced features like Ixigo Assured (free cancellation), Abhi Assured, and Ixigo Assured Flex. They will also be able to reschedule their bookings and get an instant refund upon cancellation.

The company made the announcement after the market hours. The stock closed 1.7% lower at ₹166 on the National Stock Exchange (NSE).

Shares of Ixigo debuted on the NSE on June 18 at ₹138.10, up 48% from the issue price of ₹93. The scrip reached its all-time high of ₹197.5 a day after listing.

Since then, Ixigo has seen some profit-booking, according to analysts.

The ₹740.1-crore Ixigo IPO was open from a three-day subscription window from June 10 to June 12. It was booked over 98 times. The price band was fixed at ₹88 to ₹93 per share. The offer was a mix of fresh issue of shares worth ₹120 crore and an offer-for-sale of shares worth ₹620 crore.

Le Travenues Technology Limited, which runs Ixigo, is a technology company that allows travellers to plan, book and manage their bookings.