New Delhi, Oct. 10 -- Travel tech platform Ixigo's has sold a 10% stake in the company to Dutch investor Prosus for Rs.1,295 crore, which it plans to use primarily for investing in artificial intelligence, expanding its hotel business, and acquisitions.

The company had earlier disclosed plans to sell stake of up to 16%.

Ixigo's parent company, Le Travenues Technology, will issue 46.2 million equity shares at Rs.280 per share, including a premium of Rs.279, to MIH Investments One BV, a venture capital fund managed by Prosus Ventures.

Following the allotment, Prosus will have the right to appoint one director to the company's board, subject to its holding remaining at or above 10%.

Ixigo's management said while the fresh issue of shares...