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Schroder Fund enters Ixigo via Elevation stake acquisition
Entrackr
·
1m 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 Again Dumps ixigo Shares In INR 97 Cr Block Deal
Inc42
·
1m 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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Elevation Capital sells Rs 226 crore worth shares in Ixigo parent Le Travenues Technology - The Economic Times
Economic Times
·
13d ago
Medial
Elevation Capital sold Rs 226 crore worth of shares in Ixigo's parent, Le Travenues Technology, reducing its stake to 6.45%. Schroder International Selection Fund acquired these shares, now holding a 5% stake. Previously, Elevation sold 53.9 lakh shares for Rs 97.4 crore and 21.5 lakh shares for Rs 38.27 crore. The firm's operating revenue grew 73% in a year, with Ixigo reporting a net profit increase of 27% to Rs 19 crore.
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Elevation Capital sells Ixigo shares worth Rs 97.4 crore; Schroder buys stake
Economic Times
·
1m ago
Medial
Elevation Capital sold 53.9 lakh shares in Ixigo's parent company for Rs 97.4 crore, marking a 25x return. Schroder International Selection Fund acquired a similar stake. Previously, Elevation offloaded 21.5 lakh shares for Rs 38.27 crore and had a 14% stake as of March, which is now 12%. Ixigo's net profit rose 128% YoY to Rs 16.7 crore, with quarterly revenue at Rs 284 crore, up 72% from the previous year.
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Elevation Capital trims Ixigo stake, clocks 25X return
Entrackr
·
2m 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 grants over 2 lakh ESOPs worth Rs 3.78 Cr
Entrackr
·
21d ago
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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Blackstone buys $134-mn stake in Kolte-Patil Developers, enters housing market
VCCircle
·
4m ago
Medial
Blackstone, a major US-based investment firm, has acquired a 40% stake in Pune's Kolte-Patil Developers for $134 million (Rs 1,167 crore). This deal involves a 14.3% stake via a preferential allotment and 25.7% from the promoters. Blackstone will also offer to buy 26% from public shareholders. This acquisition marks Blackstone's entry into India’s residential real estate market, complementing its existing investments in office properties, warehousing, and shopping malls.
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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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Ixigo set to acquire 51% stake in train food delivery firm Zoop
Entrackr
·
9m ago
Medial
Travel booking platform Ixigo is all set to acquire a majority stake in Zoop Web Services Private Limited. The board of directors at Ixigo approved the acquisition during a meeting held on October 24, 2024. The deal involves Ixigo purchasing a 51% stake in Zoop for a total consideration of Rs 12.54 crore, which includes a non-compete fee. This transaction is subject to the fulfillment of certain conditions, as outlined in the definitive agreements signed by both companies. The acquisition will be executed through a combination of secondary and primary share purchases. Zoop is known for providing e-catering and other solutions for the railway ecosystem. By integrating Zoop’s offerings into its platform, Ixigo aims to provide a more comprehensive travel experience to its users. This acquisition makes sense for Ixigo as 53% of its revenue collected in Q2 FY25 came from the train vertical. Zoop offers meal bookings, PNR status checks, and other railway-related services. It operates across 18 states and provides services at 192 railway stations. The company partners with nearly 400 active restaurants. In addition to acquiring the majority stake, Ixigo has secured an option to purchase the remaining 49% stake in Zoop in the future. This is the third major acquisition for Ixigo. In February 2021, it acquired a 100% stake in the train booking app Confirmtkt, while it took over the bus aggregator platform AbhiBus in August of the same year. Ixigo's revenue from operations saw a 26% growth to Rs 206.47 crore in Q2 FY25, compared to the same period in FY24. However, the company's profit after tax (PAT) experienced a significant decline of 51%, dropping from Rs 26.70 crore in Q2 FY24 to Rs 13.08 crore in Q2 FY25.
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ixigo To Raise Stake In Train Food Delivery Startup Zoop ixigo To Raise Stake In Train Food Delivery Startup Zoop
Inc42
·
21d ago
Medial
Ixigo plans to increase its stake in train food delivery startup Zoop by purchasing an additional 11% for INR 3.25 crore. Currently holding a majority, Ixigo acquired a 51% stake in October 2024, launching the ‘Food on Train’ service. Zoop reported a 42% revenue growth in FY25, reaching INR 10.90 crore. The acquisition of 1,717 shares from founders Puneet Sharma and Manoj Kumar Singh is expected to complete by September 30.
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ixigo Acquires 51% Stake in Train Food Delivery Startup Zoop
Inc42
·
9m ago
Medial
Travel platform ixigo has acquired a stake in food delivery aggregator Zoop for INR 12.54 crore ($1.4 million) through a combination of primary and secondary share purchases. Zoop, which is authorized by IRCTC, currently operates at 192 railway stations in India. As a result of the acquisition, ixigo has introduced a new "Food on Train" feature on its train apps.
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