Elevation Capital sells stake in Ixigo parent Le Travenues Technology

Elevation Capital (earlier known as SAIF Partners India) has sold 1.01 crore shares in Le Travenues Technology, the parent company of ixigo, according to a filing. Based on Tuesday’s closing price, the deal is worth ₹226 crore.

Sources say global investor Schroder International Selection Fund bought these shares and now holds about a 5% stake in the company. Earlier, it had bought 53.6 lakh shares for ₹96.9 crore.

Elevation Capital has been gradually reducing its stake in Ixigo. Last month, it sold 53.9 lakh shares for ₹97.4 crore. Before that, in May, it sold 21.5 lakh shares for ₹38.27 crore.

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As per stock exchange filings, Elevation originally held a 9.04% stake (about 3.53 crore shares) in the company. It now holds a reduced stake of 6.45%.

The venture firm had invested ₹63.1 crore in Ixigo over multiple rounds. Earlier, it sold shares worth ₹100 crore in a pre-IPO secondary sale and another ₹181 crore during the IPO's offer-for-sale (OFS) portion.

Ixigo’s operating revenue jumped 73% year-on-year to ₹314 crore in the June quarter, driven by strong growth across all business areas, better cross-selling and up-selling, and AI-led efficiency. The company posted a net profit of ₹19 crore, up 27% from ₹15 crore last year.

About Ixigo 

Founded in 2007 by Aloke Bajpai and Rajnish Kumar, Ixigo helps users book train, flight, and bus tickets. It also offers tools like PNR status, seat availability updates, confirmation predictions, personalised suggestions, and automated customer support.

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Ixigo reports 544 million annual active users and 83 million monthly active users.