Elevation Capital Continues Ixigo Stake Selloff, Nets ₹226 Cr in Latest Round

Elevation Capital has once again reduced its stake in Le Travenues Technology, the parent company of online travel aggregator Ixigo. In an exchange filing, the company revealed that the VC has sold 1.01 crore shares in Ixigo. The total value of the transaction stood at ₹226 crore.

It is said that global investor Schroder International Selection Fund has acquired these shares. With this, the fund’s stake now has nearly 5% stake in the travel company. It had acquired over 53 lakh shares worth ₹96.9 crore earlier too.

The venture capital firm has been shelving its shareholding in the company. In June, Elevation Capital had offloaded 53.9 lakh shares in Ixigo for ₹97.4 crore. And before this, it also sold 21.5 lakh shares for ₹38.27 crore in May.

Prior to these, the VC had also sold shares worth ₹100 crore through a pre-IPO secondary sale and offloaded shares worth around ₹181 crore from the offer for sale (OFS) component of the company’s IPO. Elevation’s stake in Ixigo had reduced to 6.45% from 9.04% in the past few months.

Ixigo's Q1 FY26 Financials

The company reported a 28% year‑on‑year rise in Q1 FY26 net profit to ₹19 crore. Revenue from operations surged 73% to ₹314.4 crore, while gross transaction value climbed 55% to ₹4,644.6 crore, driven by strong growth across train, bus and flight bookings.

Ixigo’s train‑ticketing arm remained the largest revenue contributor, accounting for 41.3% of total sales as passenger volumes rose 74% year‑on‑year. Bus bookings, powered by subsidiary AbhiBus, grew 26% in passenger numbers and represented 24.4% of revenue. Flight bookings also delivered strong gains, with transaction value up 81% and contributing 32.8% of aggregate revenues.

Launched in 2007 by Aloke Bajpai and Rajnish Kumar, Le Travenues Technology is the country's leading online travel aggregator, which helps travellers plan, book, and manage their trips across rail, air, buses, and hotels.

The platform also offers tailored recommendations and automated support services. As per the company, it records 544 million annual active users and 83 million users engaging with the app each month.