Elevation Capital (formerly SAIF Partners) has continued its exit strategy from Ixigo’s parent company, Le Travenues Technology, by selling shares worth Rs 135 crore (~$15.7 million) via block deals on the BSE. This marks Elevation’s fourth partial exit, delivering a staggering 25X return on investment.
📉 Stake Trimmed from 14.02% to 12.08%
According to BSE data:
- 75.48 lakh shares were sold by Elevation Capital
- Avg. price per share: Rs 179.25
- Post-sale stake: ~12.08% (down from 14.02%)
- Previous sales include:
- Rs 100 crore ($12M) in pre-IPO secondary
- Rs 180 crore ($21M) during IPO
- Rs 38.27 crore ($4.5M) last quarter
🌍 Schroder Fund Enters the Scene
At the same time, British investment giant Schroder Fund acquired 53.68 lakh shares worth Rs 96.8 crore. This marks its formal entry into Ixigo’s cap table.
With $950B AUM and stakes in Indian majors like HDFC Bank and ICICI Bank, Schroder has a strong India investment track record in startups including:
- Bizongo
- Agrostar
- FirstCry
- Lenskart
- Cultfit
- Peel Works
- Miko
📊 Ixigo Performance Snapshot
- Q4 FY25 Revenue: Rs 284 crore (↑72% YoY)
- Q4 Net Profit: Rs 17 crore (↑2.4X YoY)
- FY25 Revenue: Rs 914 crore (↑39%)
- FY25 Net Profit: Rs 60.2 crore (↓18%)
Ixigo’s current market cap: Rs 6,885 crore
Stock price (as of June 19): Rs 175 per share
🚀 Summary
This exit solidifies Elevation Capital’s position as one of India’s top-performing VCs, while Schroder Fund’s entry signals increasing global confidence in India’s travel-tech sector. With robust revenue growth and premium investor interest, Ixigo remains one of the most closely watched post-IPO startups in 2025.
