Elevation Capital Offloads ixigo Shares Worth INR 38.27 Cr

ixigo Shares Rally 15% To Touch Fresh 52-Week High

SUMMARY

The VC firm, via Saif Partners India IV Limited, sold over 21.5 Lakh shares at INR 178 apiece

Elevation Capital is the biggest shareholder in ixigo and owned 14.02% stake in the company as of March 2025

ixigo’s net profit skyrocketed 127% YoY INR 16.8 Cr in Q4 FY25, while revenue from operations zoomed 72% to INR 284.1 Cr

VC firm Elevation Capital, formerly SAIF Partners India, has offloaded more than 21.5 Lakh shares of online travel aggregator (OTA) ixigo in a block deal worth INR 38.27 Cr.

As per BSE data, the VC firm, via Saif Partners India IV Limited, sold the shares at INR 178 apiece today as against the stock’s last closing price of 177.85 on the BSE on Friday (May 16).

Elevation Capital is one of the biggest shareholders in the travel tech company’s parent Le Travenues Technology Ltd. It held a 14.02% stake in ixigo at the end of March quarter of 2025.

The block deal comes at a time when the shares of ixigo have been on an upward spree for the last few months despite market volatility. Shares of the company have shot up 10.29% in the last one month, while the stock has gained more than 21.39% in the last three months.

ixigo got listed on the stock exchanges last year, and its shares are currently up about 87.7% from their listing price of INR 93.

The rise in the stock price has come on the back of the company’s growing profitability and rising revenues. The OTA’s consolidated net profit skyrocketed 127% to INR 16.8 Cr in Q4 FY25 from INR 7.4 Cr in the year-ago quarter. Revenue from operations zoomed 72% to INR 284.1 Cr during the quarter under review from INR 164.9 Cr in Q4 FY24.

Founded in 2007 by Aloke Bajpai and Rajnish Kumar, ixigo initially started as a travel search website to help users compare flight deals. In FY20, it pivoted to become an OTA which lets users book flight, train and bus tickets, hotels, and holiday packages.

Recently, ixigo suspended hotel and flight bookings to Turkey and Azerbaijan for supporting Pakistan during its recent conflict with India.

In its post-earnings call last week, ixigo said it will review0 its stance later if the situation changes. “We remain dedicated to reviewing this stance as the situation evolves. Should geopolitical dynamics change, we will reassess our approach and take the necessary steps in the best interest of the travel ecosystem,” said Bajpai, group CEO of ixigo.

Shares of ixigo ended today’s trading session 1.38% lower at INR 174.60 on the BSE.