Elevation Capital has once again pared its stake in travel-tech firm ixigo, offloading 2.59%, or more than 1.01 crore shares, through open market transactions on July 22.
According to a regulatory filing by ixigo, the shares were sold via Elevation’s investment arm Saif Partners India IV Limited. Based on the BSE closing price of INR 221.2 on July 21, the transaction is estimated to be worth around INR 224 crore.
Following the sale, Elevation Capital’s shareholding in ixigo has reduced to 6.45%, down from its earlier 9.04% stake.
Sources quoted by The Economic Times revealed that the shares were picked up by Schroder International Selection Fund, which now holds approximately 5% stake in the listed online travel aggregator.
This marks the third such stake sale by Elevation Capital in ixigo in recent months. In May, the VC firm offloaded over 21.5 lakh shares in a deal worth INR 38.27 crore, followed by another sale of 53.98 lakh shares in June, valued at INR 97.44 crore.
The latest transaction comes amidst a strong rally in ixigo’s stock price, which has climbed 30.45% over the past month and gained over 40% in the last three months, despite broader market fluctuations. Since its listing in 2023 at INR 93, the stock has appreciated by nearly 130%.
The company’s strong financial performance appears to be a key driver of investor confidence. For the first quarter of FY26, ixigo posted a 27% increase in consolidated net profit, reaching INR 18.9 crore, compared to INR 14.9 crore in the same period last year. Operating revenue surged by 73%, touching INR 314.5 crore, up from INR 181.9 crore in Q1 FY25.
Additionally, ixigo recently increased its stake in train food delivery platform Zoop, acquiring an extra 11% through a secondary transaction worth INR 3.25 crore.
Founded in 2007 by Aloke Bajpai and Rajnish Kumar, ixigo began as a travel fare comparison site before transitioning into a full-fledged online travel agency (OTA). The platform now offers bookings for flights, trains, buses, hotels, and holiday packages.
Despite the latest sell-off, ixigo’s stock closed the previous trading session 3.59% lower at INR 213.80 on the BSE.
