Bennet Coleman & Co Limited (BCCL) has acquired close to 17% stake in Bangalore-based Leisure & Lifestyle Information Services (LLIS), which owns the travel community portal — Holiday IQ.
The investments by BCCL will constitute both equity and convertibles. This will be the second round of institutional funding for Holiday IQ as it has earlier received investments from Erasmic Ventures and Vireet Investments.
According to Holiday IQ CEO Hari Nair, the portal serves as a neutral and independent information provider on various tourist destinations. The portal was set up to fill the multiple gaps in sourcing good quality information in the leisure travel sector, Mr Nair added.
Read more in The Economic Times article.
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