Elevation bags 31.6X return in latest Rs 226 Cr Ixigo stake sale; Schroder ups holding to 5.17%

Elevation Capital has offloaded shares worth over Rs 226 crore in Ixigo’s parent, Le Travenues Technology, through a bulk deal, according to the stock exchange filing reviewed by Entrackr. 

The venture capital firm sold around 1.01 crore shares at an average price of Rs 226 per share. As per Entrackr’s analysis, Elevation Capital has earned a return of approximately 31.6X on this transaction.

Before the transaction, Elevation held a 9.04% stake in the company. The latest bulk deal involved a sale of around 2.59% stake, bringing its shareholding down to 6.45%, as per post-deal disclosures. 

This is the firm’s third such partial exit in the last three months. In May, it sold 21.5 lakh shares worth Rs 38.3 crore, followed by 53.9 lakh shares in June for Rs 97.4 crore. With the latest round, the total proceeds from secondary sales now stand at over Rs 361 crore.

Meanwhile, according to a separate stock exchange disclosure reviewed by Entrackr, Schroder Investment Management has picked up an additional 16.6 lakh shares from the open market. With this purchase, Schroder has become a substantial shareholder in Ixigo, now holding 5.176% of the company.

Schroder has consistently emerged as a key institutional buyer in recent Elevation exits, and its growing exposure signals long-term confidence in the company.

Elevation, formerly known as SAIF Partners, was one of Ixigo’s earliest institutional investors and has realized multi-bagger returns through these stake sales.

Ixigo continues to report strong performance post-IPO. In Q1 FY26, the company recorded a 72.5% year-on-year jump in revenue to Rs 314 crore, while net profit increased 26.7% to Rs 19 crore in the same period. Ixigo’s share price is currently trading at Rs 216.95 per share (as on 12.50 PM) with a total market capitalization of Rs 8,467 crore (approximately $1 billion).