🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Related News

Schroder Fund enters Ixigo via Elevation stake acquisition

EntrackrEntrackr · 3m ago
Schroder Fund enters Ixigo via Elevation stake acquisition
Medial

Schroder Fund enters Ixigo via Elevation stake acquisition Elevation Capital (formerly SAIF Partners) sold Rs 135 crore ($15.7 million) worth of shares in Ixigo parent Le Travenues Technology via block deals on Thursday. This partial exit is estimated to have delivered a 25X return on investment for the venture capital firm. According to a filing accessed from the Bombay Stock Exchange (BSE), Elevation Capital offloaded 75.48 lakh shares at an average price of Rs 179.25 apiece. At the same time, global investor Schroder Fund made its entry into Ixigo by acquiring 53.68 lakh shares worth Rs 96.8 crore. Schroder Fund is a British multinational asset management firm with a presence in 37 locations across Europe, the Americas, the Middle East, and Africa. At present, it reportedly manages assets worth around $950 billion. Notably, the fund holds significant investments in Indian companies, particularly HDFC Bank and ICICI Bank, which together make up around 6–7% of its total portfolio. In the startup space, Schroder is one of the largest stakeholders in e-commerce-focused packaging company Bizongo and also participated in Agrostar’s $70 million Series D round. It has also backed Lenskart, FirstCry, Cultfit, Peel Works and Miko, among others. As of FY25, Elevation Capital held 5.46 crore shares in Ixigo (14.02%). After the partial sale, its stake will drop to 12.08%. This records Elevation’s fourth partial exit from Ixigo. Most recently, it sold 21.5 lakh shares for Rs 38.27 crore (about $4.5 million). Earlier, the firm had offloaded shares worth Rs 100 crore ($12 million) in a pre-IPO secondary deal and Rs 180 crore ($21 million) during the IPO. For the quarter ended March 2025, Ixigo reported a 72% year-on-year increase in revenue to Rs 284 crore, while profit rose 2.4X to Rs 17 crore. Its revenue grew 39% to Rs 914 crore, but net profit fell 18% to Rs 60.2 crore in FY25. At the close of trading on Thursday (June 19), Ixigo’s shares were priced at Rs 175, giving the company a market capitalization of Rs 6,885 crore.

Potential investor eyes up to 16% stake in Ixigo via primary and secondary acquisition

EntrackrEntrackr · 7h ago
Potential investor eyes up to 16% stake in Ixigo via primary and secondary acquisition
Medial

A potential investor is in talks to acquire up to a 16% stake in travel-tech firm Le Travenues Technology Limited (Ixigo) through primary and secondary transactions, according to a regulatory filing made by the company on Tuesday. In its disclosure to the BSE and NSE, Ixigo said it received an intimation from a potential investor expressing interest in purchasing shares either directly or through its affiliates. However, the company clarified that no definitive agreements or binding arrangements have been executed so far. “The proposed acquisition would be by way of primary and secondary acquisitions, and our aggregate shareholding, including affiliates, pursuant to the company’s proposed fundraise and the aforementioned secondary acquisitions, will not exceed 16%,” the disclosure quoted the investor as saying. The move comes at a time when Ixigo has been witnessing growing investor interest following its successful IPO in June 2024, where the company made a strong debut on the stock exchanges. Recently, Global asset manager Schroder Investment Management has increased its stake in Le Travenues Technology Limited. On the financial front, Ixigo’s revenue from operations surged 72.5% to Rs 314 crore in Q1 FY26, in contrast to Rs 182 crore in Q1 FY25. During the period, the company’s net profit grew 27% year-on-year to Rs 19 crore in Q1 FY26 from Rs 15 crore in Q1 FY25. If the deal materializes, it could mark one of the most significant secondary share movements in Ixigo post-listing.

Download the medial app to read full posts, comements and news.