This partnership follows ixigo’s recent successful listing on stock exchanges, where its shares debuted at significantly higher prices than the initial offering. On the NSE, ixigo shares opened at INR 138.10, marking a 48.5% increase from the issue price of INR 93, while on the BSE, they opened at INR 135, up 45.16% from the issue price.
Previously, ixigo had teamed up with PhonePe to enable train bookings through the latter’s app. Under the new agreement, ixigo will exclusively power flight bookings through ixigo flights, and bus bookings via AbhiBus, and further expand its partnership with ConfirmTkt for train reservations on PhonePe’s platform.
ixigo is known for its comprehensive travel search capabilities covering flights, trains, buses, and hotels. The company's competitors in the market include EaseMyTrip, Yatra, and MakeMyTrip.
The collaboration aims to enhance travel booking options for over 54 crore PhonePe users, offering a range of services including ixigo Assured for free cancellation, ixigo Assured Flex, and Abhi Assured, providing flexibility in rescheduling flights, trains, and buses, along with instant refunds for cancellations.
The partnership between ixigo and PhonePe is set to catalyse significant synergies and growth opportunities for both companies. By integrating ixigo's flight and bus booking capabilities directly into PhonePe's app, the collaboration aims to drive increased transaction volumes and user engagement. This integration also promises technological synergies, leveraging ixigo's expertise in travel search and booking systems with PhonePe's robust digital payments infrastructure to innovate user interfaces and enhance backend efficiencies.
Moreover, the partnership emphasises customer-centric enhancements such as ixigo Assured features for free cancellations and flexible booking options, which will be integrated into PhonePe's platform. This initiative aims to elevate customer satisfaction by offering enhanced services and support for travel-related queries. Beyond operational efficiencies, the collaboration positions both companies for expanded market penetration, particularly in Tier II and III cities, where PhonePe has been rapidly growing. This strategic alignment underscores a shared commitment to improving the travel booking experience and leveraging each other's strengths to capture new growth opportunities in India's dynamic digital economy.
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