Travel booking giant Ixigo is poised to acquire a 51% stake in Zoop Web Services Private Limited, a popular e-catering service for rail passengers in India. The acquisition, approved by Ixigo’s board on October 24, 2024, involves a transaction valued at Rs 12.54 crore, including a non-compete agreement. Subject to regulatory conditions, the deal will be carried out through a mix of primary and secondary share acquisitions.
With this move, Ixigo aims to create a more holistic travel experience by integrating Zoop’s food delivery services directly into its platform, further strengthening its foothold in the railway ecosystem—a segment responsible for 53% of Ixigo’s Q2 FY25 revenue. Zoop, which operates across 18 states with partnerships with nearly 400 restaurants, offers train passengers meal booking, PNR status checks, and other railway-focused services at 192 stations across the country.
Additionally, Ixigo has secured an option to acquire the remaining 49% of Zoop in the future. This acquisition follows two previous strategic buys: Ixigo acquired the train ticket booking app Confirmtkt in February 2021 and bus aggregator AbhiBus later that same year.
Financially, Ixigo’s operations grew 26% year-over-year in Q2 FY25, with revenues reaching Rs 206.47 crore. However, its profit after tax fell 51%, from Rs 26.70 crore in Q2 FY24 to Rs 13.08 crore in Q2 FY25, indicating continued growth efforts as the company broadens its portfolio with this Zoop acquisition.
