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Tracxn slips into losses in Q4 FY25 amid flat revenue

EntrackrEntrackr · 2m ago
Tracxn slips into losses in Q4 FY25 amid flat revenue
Medial

Data and research platform Tracxn announced its financial results for the fourth quarter of the last fiscal year (Q4 FY25) on Monday. The firm slipped into losses during the quarter, while its revenue grew by a mere 5% over the same period. Tracxn's revenue from operations stayed flat at Rs 21 crore in Q4 FY25, compared to Rs 20 crore in Q4 FY24, its financial statements sourced from the National Stock Exchange (NSE) show. For the full fiscal year (FY25), Tracxn’s operating revenue increased 2% to Rs 84.5 crore in FY25 from Rs 83 crore in FY24. Tracxn generated its entire operating revenue from subscription sales, offering access to its data and software. However, the Bengaluru-based firm did not provide a detailed revenue breakdown for the quarter. The company also made Rs 1.5 crore from non-operating sources which took Tracxn’s total revenue to Rs 22.7 crore in the fourth quarter. Meanwhile, for the full fiscal year (FY25), total income stood at Rs 90.36 crore. Employee benefits remained the largest cost center for Tracxn, accounting for 86% of its total expenditure. These expenses increased by 5.6% year-on-year, rising to Rs 19.36 crore in Q4 FY25 from Rs 17.77 crore in Q4 FY24. Overall, Tracxn's total costs grew by approximately 10%, reaching Rs 22 crore in Q4 FY25. For the fiscal year ending March 2025, total expenses increased to Rs 84 crore. The stagnant revenue and a nearly 10% increase in overall costs caused Tracxn to slip into losses. The company’s loss after tax stood at Rs 8 crore in Q4 FY25 from a profit of Rs 1.42 crore in Q4 FY24. However, the company reported a profit before tax of Rs 73 lakhs. Meanwhile, for the full fiscal year (FY25), its losses stood at Rs 9.5 crore. The company recently approved an ESOP grant of over 2 lakh shares, valued at Rs 41.6 lakh. As of the last trading session, Tracxn’s share price was Rs 63, giving the company a market cap of Rs 674 crore ($79 million).

Schroder Fund enters Ixigo via Elevation stake acquisition

EntrackrEntrackr · 2m 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.

Kalaari, Iron Pillar offload Bluestone stakes worth Rs 443 Cr in 2024

EntrackrEntrackr · 15d ago
Kalaari, Iron Pillar offload Bluestone stakes worth Rs 443 Cr in 2024
Medial

Bluestone Jewellery and Lifestyle facilitated secondary share transactions worth Rs 443 crore between February and September 2024, allowing early investors to partially exit and late-stage institutional funds to enter ahead of its upcoming IPO, according to its Red Herring Prospectus (RHP). Iron Pillar Fund and Kalaari Capital offloaded part of their stake to 360 One, Peak XV, and Steadview Capital via off-market deals. In February 2024, Iron Pillar sold 3.26 lakh shares to 360 One Large Value Fund for Rs 103 crore, valuing Bluestone at Rs 3,149 per share. In September, Kalaari executed two back-to-back secondary sales, where on September 02, it transferred 4.07 lakh shares to Peak XV Partners for Rs 220 crore, and later on September 26, it sold 2.22 lakh shares to Steadview Capital for Rs 120 crore. Both deals were priced at Rs 5,403 per share. These secondary transactions were already disclosed in the company’s DRHP filed in December 2024. Bluestone is reportedly targeting a valuation of around Rs 7,800 crore in its upcoming initial public offering (IPO). In the updated RHP, Bluestone revised its IPO size, where it trimmed the fresh issue to Rs 820 crore from Rs 1,000 crore, and reduced the Offer for Sale to 1.39 crore shares from 2.4 crore shares. Investors including Accel, Saama Capital, Kalaari Capital, Iron Pillar, and Sunil Kant Munjal (Hero Enterprise) are part-exiting via the public offer. Founded in 2011 by Gaurav Singh Kushwaha, Bluestone operates 275 stores across over 80 cities and reported Rs 1,770 crore in revenue in FY25, a 40% YoY jump. At the same time, its losses widened 56% to Rs 218 crore. The IPO opens on August 11, with anchor bidding on August 8. Axis Capital, Kotak Mahindra Capital, and IIFL Capital are managing the issue.

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