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Ixigo IPO may be another multibagger for Elevation Capital
The Arc Web
·
1y ago
Medial
Online travel aggregator Ixigo is set to launch its IPO with a target of raising Rs 740 crore ($89 million) primarily through a sale of shares by existing investors. The listing is expected to value Ixigo at Rs 3,600 crore ($430 million), a 20% increase from its previous valuation. The company aims to raise Rs 120 crore ($14 million) through a fresh issue of shares, while the remaining Rs 620 crore ($74 million) will come from the sale of shares by current backers. Elevation Capital, Peak XV Partners, and Micromax are among the existing investors selling their shares.
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Elevation Capital trims Ixigo stake, clocks 25X return
Entrackr
·
1m ago
Medial
Elevation Capital trims Ixigo stake, clocks 25X return Elevation Capital (formerly SAIF Partners) has offloaded 21.5 lakh shares in Le Travenues Technology Ltd, the parent company of travel tech firm Ixigo, for Rs 38.27 crore (around $4.5 million). The partial exit marks a nearly 25X return on its investment. According to a disclosure on the Bombay Stock Exchange (BSE), SAIF Partners sold 21.5 lakh equity shares at Rs 178 each through block deals. This marks Elevation’s third partial exit from Ixigo. The VC firm had earlier sold shares worth Rs 100 crore ($12 million) in a pre-IPO secondary transaction, followed by a Rs 180 crore ($21 million) sell-off during the IPO via the offer-for-sale (OFS) route, together delivering estimated returns of 13X. As of March 31, 2025, Elevation held around 14.2% in Ixigo, down sharply from 23.4% in February 2024. The sell-off comes at a time when Ixigo reported a 72% year-on-year jump in revenue to Rs 284 crore in Q4 FY25, while its profit rose 2.4X to Rs 17 crore. For the full fiscal year (FY25), the company posted Rs 914 crore in revenue. At the close of today’s trading session (Tuesday, May 19), Ixigo’s shares were priced at Rs 174.6 each, with a total market capitalization of Rs 6,811 crore (approximately $800 million).
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ixigo DRHP: A Look At The Online Travel Aggregator’s Top Guns And Shareholding Pattern
Inc42
·
1y ago
Medial
Le Travenues Technology, the parent company of travel tech major ixigo, has refiled its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its potential initial public offering (IPO). The IPO will consist of a fresh issue of shares valued at INR 120 Cr and an offer for sale (OFS) component of 6.66 Cr equity shares. The DRHP also reveals the shareholding pattern of ixigo, with Elevation Capital being the largest shareholder. The company plans to use the proceeds from the IPO for working capital requirements and investments in technology and infrastructure enhancements.
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Elevation Capital, Peak XV Partners to score multibagger returns from tech bet
VCCircle
·
1y ago
Medial
Elevation Capital and Peak XV Partners, prominent venture capital investors in Indian startups, aim to generate significant returns from a tech company investment. Formerly known as SAIF Partners and Sequoia Capital India and Southeast Asia respectively, the firms plan to partially monetize their investments. The tech bet is anticipated to yield multibagger returns for both Elevation Capital and Peak XV Partners.
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Elevation Again Dumps ixigo Shares In INR 97 Cr Block Deal
Inc42
·
26d ago
Medial
Elevation Capital, previously SAIF Partners India, sold over 53.98 lakh shares of online travel aggregator ixigo in a block deal valued at INR 97.44 crore. The shares were sold via Saif Partners India IV Limited at INR 180.50 each, slightly below ixigo’s last closing price of INR 180.65 on the BSE. Schroder International Selection Fund purchased 53.69 lakh of these shares for INR 96.9 crore. Last month, Elevation Capital sold 21.5 lakh ixigo shares for INR 38.27 crore.
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Schroder Fund enters Ixigo via Elevation stake acquisition
Entrackr
·
26d ago
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.
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Elevation Partners offloads 21.5 lakh shares in Ixigo parent for Rs 38.3 crore
Economic Times
·
1m ago
Medial
Elevation Capital sold 21.5 lakh shares in Ixigo's parent company, Le Travenues Technology, for Rs 38.27 crore at Rs 178 each, retaining a 13% stake. The firm had previously invested Rs 63.1 crore in Ixigo and sold shares worth Rs 100 crore before IPO, and about Rs 181 crore during the IPO's OFS. Ixigo's net profit grew 128% YoY, with operating revenue rising 72% to Rs 284 crore.
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How investors struck gold in the new-age IPO boom
Economic Times
·
1y ago
Medial
A wave of venture-backed new-age firms going public in second rounds of initial public offerings (IPOs) has become lucrative for investors such as Peak XV Partners, Elevation Capital, ChrysCapital, A91 Partners, and TVS Capital. Mamaearth parent Honasa Consumer started the trend in October 2021, with other companies like Go Digit, Awfis, and ixigo following suit. Earlier this year, companies like Zomato, Nykaa, PB Fintech, Paytm, and Delhivery also went public, further contributing to the investor gold rush in the IPO market.
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Orios Venture Partners reaps multibagger returns in partial exit
VCCircle
·
1y ago
Medial
Orios Venture Partners, an early-stage venture capital firm, has achieved significant returns on its investment through a partial exit. The firm, which has invested in companies like Country Delight, BeatO, ixigo, and PharmEasy, made the exit from a four-year-old investment. Currently investing from its third fund with a target corpus of $120 million, Orios is looking to raise additional funds for future investments.
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Ixigo’s stock market debut: Here’s what investors Elevation, Peak XV made on their investments
Economic Times
·
1y ago
Medial
Online travel tech company Ixigo made a successful debut on the stock market, with its stock surging to Rs 161.99, a premium of 48% to its IPO price. The company's market capitalization reached Rs 6,275 crore ($750 million). Investors Elevation Capital, Peak XV Partners, and Micromax Informatics have seen significant gains as a result, with Elevation's remaining stake worth Rs 942 crore, Peak XV Partner's stake worth Rs 635 crore, and Micromax's stake worth Rs 249 crore. The founders of Ixigo also sold shares through the IPO's Offer for Sale component, with their stakes now valued at Rs 305 crore and Rs 328 crore.
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Swiggy IPO: Accel, Elevation Capital see over 3300% gain, Prosus likely to get Rs 4,254 Cr
YourStory
·
8m ago
Medial
Indian food delivery platform Swiggy has set the price range of its initial public offering (IPO) at ₹371-390 ($4.98-$5.24). The IPO will be open for bidding from 6 to 8 November, and early investors including Accel and Elevation Capital are set to make significant gains. Accel will see a return of 3,391% on its investment, while Elevation Capital will gain 3,309%, based on the upper end of the IPO price. Swiggy plans to raise ₹44.99bn ($600m) in fresh capital through the issuance of new shares.
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