The venture capital firm, formerly SAIF Partners, offloaded the shares at Rs 180.50 each through its SAIF Partners India IV Limited vehicle. Schroder’s Asian Total Return fund bought 5.37 million Ixigo shares at the same price, investing Rs 96.9 crore.
Elevation had previously sold 2.15 million Ixigo shares in May at Rs 178 per share for Rs 38.27 crore, netting a 25X return on investment. This brings the total recent sales to Rs 135.7 crore.
The firm held a 14% stake in Ixigo as of February, making it the largest institutional shareholder in the company that operates travel platforms, including Confirmtkt and AbhiBus.
Elevation Capital had purchased shares of the company at Rs 7.14 apiece, Ixigo’s draft red herring prospectus (DRHP) showed.
Elevation has trimmed its stake in Ixigo multiple times after selling shares in a pre-IPO secondary transaction and during the company’s listing through an offer-for-sale.
The venture capital firm, which has backed companies like Paytm, Meesho, and Swiggy, among others, had sold shares worth Rs 100 crore in Ixigo during the pre-IPO secondary sale and shares worth Rs 181 crore through the IPO.
Le Travenues Technology Limited, which operates ixigo, reported a 72% year-on-year (YoY) rise in revenue from operations to Rs 284.1 crore in Q4 FY25, up from Rs 164.9 crore in the same quarter last year.
The company also noted a 65% YoY increase in gross transaction volume (GTV), reaching Rs 4,418.4 crore in the quarter. Flight and bus segments led the growth with a 92% YoY jump in GTV, while train GTV grew 41%, compared with Q4 FY24.
Profit After Tax (PAT) more than doubled to Rs 16.8 crore in Q4 FY25 from Rs 7.3 crore a year earlier, marking a 128% increase.
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