Startup Originals Team
Elevation Capital, one of the earliest institutional backers of Ixigo’s parent company Le Travenues Technology, has achieved a remarkable exit through a recent bulk deal, solidifying its reputation for high-yield venture investments. The transaction, completed in July 2025, highlights both Elevation’s successful strategy and growing confidence from institutional investors in Ixigo’s future.
Elevation Capital’s Blockbuster Exit:
Elevation Capital, formerly known as SAIF Partners, sold approximately 1.01 crore shares of Ixigo at an average price of ₹226 per share, amounting to a total deal value of over ₹226 crore. This latest stake sale delivered the firm a staggering 31.6X return on investment-testament to Ixigo’s impressive growth story and the timing of Elevation’s early investment.
Before the deal, Elevation Capital held a 9.04% stake in Ixigo. After offloading around 2.59% of its holding in this transaction, the venture fund’s shareholding dropped to 6.45% in the company. This represents Elevation’s third partial exit within the span of just three months.
Recent Exit Timeline:
Elevation’s most recent stake sales in Ixigo include:
- May 2025: Sold 21.5 lakh shares for ₹38.3 crore.
- June 2025: Offloaded 53.9 lakh shares for approximately ₹97.4 crore.
- July 2025 (latest): Sold around 1.01 crore shares worth over ₹226 crore.
With these transactions, Elevation’s total proceeds from its secondary sales in Ixigo now exceed ₹361 crore.
Rising Confidence from Schroder Investment Management:
Schroder Investment Management, a leading global institutional investor, has significantly raised its exposure by purchasing an additional 16.6 lakh shares on the open market. This brings Schroder’s total stake in Ixigo up to 5.176%, making it a substantial shareholder and reflecting continued confidence in the travel tech company’s fundamentals. Schroder has consistently shown interest by acquiring shares during multiple Elevation exits over the past months.
Continued Strong Performance Post-IPO:
Ixigo’s solid operational and financial performance has been a key driver for investor interest. In Q1 FY26, the company posted:
- Revenue: ₹314 crore, marking a 72.5% year-on-year increase.
- Net Profit: ₹19 crore, reflecting a 26.7% jump year-on-year.
As of July 25, 2025, Ixigo’s stock trades at ₹216.95 per share, giving it a market capitalization of approximately ₹8,467 crore (about $1 billion), underlining the company’s strong post-IPO growth and market position.
Conclusion:
Elevation Capital’s recent exits from Ixigo have not only yielded spectacular returns for its investors but have also attracted major institutional players like Schroder Investment Management, signalling robust confidence in Ixigo’s ongoing growth trajectory. The company’s surging financials and market cap reinforce its status as a travel tech leader in India, setting the stage for its next phase of expansion and value creation.
