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Schroder Fund enters Ixigo via Elevation stake acquisition

EntrackrEntrackr · 8m 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.

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Schroders increases stake in Ixigo to 7.18%

EntrackrEntrackr · 5m ago
Schroders increases stake in Ixigo to 7.18%
Medial

Schroders increases stake in Ixigo to 7.18% Global asset manager Schroder Investment Management has increased its stake in Le Travenues Technology Limited, the parent of travel booking platform ixigo. According to a stock exchange filing, Schroders Group entities, acting as discretionary fund managers, acquired additional shares on September 18, 2025. The acquisition was made via the open market in which Schroders bought 41,638 shares of ixigo, increasing its stake by 0.011% to 7.179% from the previous holding of 7.169%. Schroders now has 2,80,28,378 shares of Ixigo. Earlier this year, Elevation Capital offloaded shares worth over Rs 226 crore in a bulk stake sale, realizing a return of approximately 31.6X on its investment. Meanwhile, in that same period, Schroders had picked up an additional 16.6 lakh shares from the open market, pushing its shareholding to 5.176%. Ixigo’s revenue from operations surged 72.5% to Rs 314 crore in Q1 FY26 compared 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. Ixigo’s shares are trading at Rs 278.55 (as of 15:31 PM), giving the online travel aggregator a market capitalization of Rs 10,874 crore.

Coronation Fund Manager hikes stake in Ixigo to over 5%

EntrackrEntrackr · 2d ago
Coronation Fund Manager hikes stake in Ixigo to over 5%
Medial

Coronation Fund Manager hikes stake in Ixigo to over 5% Coronation Fund Managers Ltd, a South Africa-headquartered asset manager, has increased its shareholding in online travel platform Le Travenues Technology Limited (Ixigo), according to a regulatory filing. Coronation, listed on the Johannesburg Stock Exchange, acquired 1,83,322 equity shares of Le Travenues in the open market, according to the disclosure. The purchase pushed its stake above the 5% threshold. Before the transaction, Coronation held 2,18,52,552 shares, which is equal to 4.99% of Ixigo’s equity share capital. After the acquisition, its holding rose to 2,20,35,874 shares, or 5.03%. Recently, Prosus increased its stake in Ixigo to approximately 15% via an off-market transaction. Prosus acquired 3.16% fully diluted stake from Peak XV and 1.9% stake from Elevation. The purchase follows Ixigo’s announcement that it will acquire a 60% majority stake upfront, with an option to buy the remaining stake later, in Spain-based online train ticketing platform Trenes for around Rs 125 crore. Trenes will operate as an Ixigo step-down subsidiary. Ixigo’s revenue from operations increased to Rs 317.6 crore in Q3 FY26 in contrast to Rs 242 crore in Q3 FY25. The company increased its profit by 55% to Rs 24 crore in the same period. Ixigo’s shares are trading at Rs 164.4, giving the online travel aggregator a market capitalization of Rs 7,148 crore (approximately $786 million).

ixigo to acquire 60% stake in Spain’s Trenes for Rs 125 Cr, enters Europe

EntrackrEntrackr · 13d ago
ixigo to acquire 60% stake in Spain’s Trenes for Rs 125 Cr, enters Europe
Medial

**ixigo to acquire 60% stake in Spain’s Trenes for Rs 125 Cr, enters Europe** Online travel aggregator ixigo has approved the acquisition of a majority stake in Spain-based online train ticketing platform Trenes for a total investment of around Rs 125 crore. As part of the transaction, ixigo will acquire an upfront 60% stake in Trenes. Post-acquisition, Trenes will become a step-down subsidiary of ixigo. The company will also have the option to acquire the remaining shareholding at a later stage. Founded in 2013, Trenes operates across Spain and Southern Europe and is integrated with major Spanish and European rail operators, enabling multi-operator rail bookings. Spain’s rail market recorded 549 million passengers in 2024. Trenes reported operating revenue of around Rs 60 crore and a profit after tax of about Rs 15 crore in CY25. The acquisition is ixigo’s first major international deal and its strategic entry into Europe, a market widely regarded as the global benchmark for rail travel. ixigo expects to generate synergies by combining Trenes’ local market presence and rail integrations with its AI-led product capabilities and technology expertise. Founded in 2007 by Aloke Bajpai and Rajnish Kumar, ixigo operates an AI-based travel platform offering bookings across trains, flights, buses, hotels and cabs through its ixigo, ConfirmTkt and AbhiBus apps. The company reported over 54 crore annual active users in FY25. For the quarter ended December 2025, ixigo’s revenue from operations rose to Rs 317.6 crore in Q3 FY26 from Rs 242 crore in Q3 FY25, while profit increased 55% to Rs 24 crore from Rs 15.5 crore during the same period.

Prosus raises Ixigo stake by 5% via secondary transaction

EntrackrEntrackr · 4m ago
Prosus raises Ixigo stake by 5% via secondary transaction
Medial

Prosus raises Ixigo stake by 5% via secondary transaction The development comes soon after Prosus’s investment of Rs 1,295.56 crore (approximately $146 million) in Ixigo for a 10.1% stake on a fully diluted basis. MIH Investments One B.V., a Prosus company, has increased its stake to 15% in Le Travenues Technology Limited, the parent of travel platform Ixigo. According to a disclosure by Prosus, it acquired the stake through an off-market transaction. As per sources, Prosus has purchased 5.06% of fully diluted stake from Peak XV (3.16%) and Elevation (1.9%). Peak XV declined to comment on the story while queries sent to Elevation, Ixigo, and Prosus did not elicit a response until publication of the story. Prosus will reportedly pay another Rs 620–660 crore to acquire an additional stake through a secondary deal. With this transaction, Prosus’s total holding in the Gurugram-based travel tech platform is expected to rise to around 15%. The move aligns with the investor’s strategy to deepen its presence in India. The investment firm aims to expand its India portfolio to about $50 billion over the next few years through a mix of investments and acquisitions. On the financial front, Ixigo’s operating revenue jumped 72.5% to Rs 314 crore in Q1 FY26 from Rs 182 crore in the same quarter last year. The company’s net profit also rose 27% to Rs 19 crore in Q1 FY26, compared to Rs 15 crore in Q1 FY25.

Elevation Capital trims Ixigo stake, clocks 25X return

EntrackrEntrackr · 9m ago
Elevation Capital trims Ixigo stake, clocks 25X return
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).

Ixigo grants over 2 lakh ESOPs worth Rs 3.78 Cr

EntrackrEntrackr · 7m ago
Ixigo grants over 2 lakh ESOPs worth Rs 3.78 Cr
Medial

Ixigo grants over 2 lakh ESOPs worth Rs 3.78 Cr Le Travenues Technology Limited, the parent company of travel tech platform Ixigo, has granted 211,912 stock options under its ESOP schemes of ESOS 2013, 2020, 2021, and 2024. The options have been issued at an exercise price of Rs 93 per share and will vest over four years in equal annual tranches. At the current market price of Rs 178.6 per share, the total value of the grant stands at approximately Rs 3.78 crore, implying a per-option value gain of Rs 85.6 for eligible employees. Ixigo reported a 72% growth in scale in the last quarter of FY25, reporting a revenue of Rs 284 crore in Q4 FY25. Meanwhile, its year-on-year (YoY) profits increased by 2.4X to Rs 17 crore during the same period. Recently, Elevation Capital also offloaded 75.48 lakh shares of Ixigo 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. At the close of trading on Wednesday (July 16), Ixigo’s shares were priced at Rs 179.8, giving the company a market capitalization of Rs 7,017 crore (approximately $820 million).

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