In a significant open market transaction, early-stage venture capital firm Elevation Capital (formerly SAIF Partners India) has partially exited its investment in Le Travenues Technology, the parent company of online travel aggregator Ixigo, by selling shares worth ₹97.4 crore. Concurrently, global asset management giant Schroder International Selection Fund has entered the company, acquiring a substantial stake.

According to disclosures filed with the BSE, Elevation Capital offloaded 53.9 lakh shares of Ixigo at a price of ₹180 each on Thursday. This latest divestment marks an impressive 25x return for Elevation Capital on this particular sale, highlighting the remarkable growth trajectory of Ixigo since their initial investment. Despite this sale, Elevation Capital continues to hold a significant stake of approximately 12% in the company. As of March 31, their holding stood at around 14%, comprising 5.46 crore shares.

This is not the first time Elevation Capital has capitalized on its successful investment in Ixigo. The firm had previously sold 21.5 lakh shares last month for ₹38.27 crore. Prior to that, it had exited shares worth ₹100 crore through a pre-IPO secondary sale and an additional ₹181 crore via the Offer For Sale (OFS) component during Ixigo's Initial Public Offering (IPO).

On the buying side, Schroder International Selection Fund has acquired 53.6 lakh shares in Ixigo, valued at ₹96.9 crore. This move signals a strong vote of confidence from a major global investor in Ixigo's future prospects and the broader Indian online travel market. Schroder Fund is a British multinational asset management firm with a presence across numerous global locations and manages substantial assets. It already holds significant investments in other prominent Indian companies.

Ixigo, founded in 2007 by Aloke Bajpai and Rajnish Kumar, has grown into a leading online travel aggregator, offering a comprehensive suite of services including flight, train, and bus ticket bookings, along with various utility tools like PNR status and train seat availability predictions. The company reported robust financial performance for the quarter ended March, with its net profit surging by 128% year-on-year to ₹16.7 crore. Operating revenue also saw a significant jump of 72% to ₹284 crore, driven by growth across all its business segments.

Ixigo made its public market debut on June 18 last year, listing at ₹138, a premium of 48.5% over its issue price of ₹93. The stock closed at ₹176.05 on the BSE on Thursday, reflecting continued investor interest and the company's strong performance since listing. The strategic entry of a global fund like Schroder, coupled with the profitable exit strategy of early investors like Elevation Capital, underscores the vibrant activity and investment appeal within India's evolving digital travel sector.