Le Travenues Technology Acquired 54.66% Stake in Brevistay Hospitality and Invested in Two AI Companies
Le Travenues Technology Limited (LTL) announced that its Board of Directors approved several strategic investments, including the acquisition of a majority stake in Brevistay Hospitality Private Limited and significant investments into two specialized technology firms focused on artificial intelligence (AI). The decisions were made during a board meeting held on June 05, 2026.The Company's investments span both the travel tech industry and advanced AI capabilities. As part of its strategy to strengthen its online hotel booking business, LTL acquired a 54.66% stake in Brevistay Hospitality Private Limited for a total consideration of ₹65.69 Crore, which included a non-compete fee. The acquisition was achieved through a combination of secondary and primary share purchases.
Consequent to the successful completion of this transaction, Brevistay will become a subsidiary of Le Travenues Technology Limited. LTL has until July 31, 2026, to complete the acquisition.
Acquisitions and Investments Overview
The Board decisions encompassed three distinct moves: an acquisition in travel tech, and two investments targeting AI development through subscription to convertible instruments.Details regarding the acquisition of Brevistay Hospitality Private Limited are summarized below:
| Particular | Detail |
|---|---|
| Target Entity | Brevistay Hospitality Private Limited (Owner/Operator of www.brevistay.com) |
| Industry Segment | Online Travel Agency (OTA) for booking hotel rooms for flexible durations |
| Stake Acquired | 54.66% through secondary and primary share purchases |
| Total Consideration | ₹65.69 Crore (including non-compete fee) |
| Target FY2026 Turnover | ₹18.10 Crore (unaudited) |
| Acquisition Timeline | On or before July 31, 2026 |
LTL also committed a substantial investment to the AI industry by investing in Ofintelligence Technologies Private Limited (Proactai). The company subscribed for 2,394 Compulsorily Convertible Preference Shares (CCPS) in Proactai for a total consideration of ₹7.50 Crore. This investment secured a 10.34% stake and is set to be completed by July 05, 2026.
Proactai, which focuses on building vertical foundational models for person re-identification and object tracking, has been operating in the Information Technology sector. For FY 2026, Proactai reported a revenue of ₹12.02 Lakh (unaudited).
In addition to these deals, LTL invested in Forgeurai Systems Private Limited (Vestra.AI), subscribing to 450,000 0.01% Fully Convertible Debentures (FCDs) for a total consideration of ₹4.50 Crore. The investment in Vestra.AI, which develops custom AI operating systems and workflow automation, is due by July 05, 2026.
Vestra.AI’s business falls under the Information Technology industry. As of FY 2026, Vestra.AI generated a revenue of ₹1.25 Lakh.
Investment Details at a Glance
| Company Name | Type of Transaction | Total Consideration | Acquired Stake / Instruments | Completion Date |
|---|---|---|---|---|
| Brevistay Hospitality Private Limited | Acquisition (Shares) | ₹65.69 Crore | 54.66% stake | On or before July 31, 2026 |
| Ofintelligence Technologies Private Limited (Proactai) | Investment (CCPS) | ₹7.50 Crore | 10.34% stake (2,394 CCPS) | On or before July 05, 2026 |
| Forgeurai Systems Private Limited (Vestra.AI) | Investment (FCDs) | ₹4.50 Crore | Subscription to FCDs | On or before July 05, 2026 |
IXIGO Stock Price Movement
Today, Le Travenues Technology Limited shares edged higher by 1.37%, concluding the day at ₹155.55 in post-market trading. The stock closed within an intraday range defined by a low of ₹154 and a high of ₹158.47, amidst activity reaching over 826,309 shares traded.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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