Elevation Capital Trims Its Stake in Ixigo Again, Sells Shares Worth ₹97 Cr

VC firm Elevation Capital has sold has offloaded over 53 lakh shares in online travel aggregator Ixigo’s parent firm, Le Travenues Technology, for ₹97.4 crore. With this exit, the fund has made 25x return. As per BSE data, the investor sold the shares at ₹180 each on Thursday.

Elevation Capital ranks among the largest shareholders in Le Travenues Technology. As of the March 2025 quarter, it held a 14.02% stake in the company. This marks the VC firm’s second stake sale in just a month. In May, it offloaded over 21.5 lakh shares for ₹38.27 crore. Currently, it holds 12% stake in the company.

Prior to this, the early-stage venture capital firm had exited shares worth ₹100 crore via a pre-IPO secondary transaction and offloaded an additional ₹181 crore through the offer-for-sale (OFS) portion of the company’s IPO. The travel aggregator went public in June last year at ₹138, a premium of 48.5% over its issue price of ₹93.

While Elevation sold its shares in Ixigo, global investor Schroder International Selection Fund has acquired 53.6 lakh shares in the company worth ₹96.9 crore.

Ixigo reported a 128% year-on-year jump in net profit, reaching ₹16.7 crore for the March quarter this year. Operating revenue also rose sharply to ₹284 crore, up 72% from ₹165 crore in the same period last year, driven by broad-based growth across its business segments.

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.