Elevation Capital sells additional stake in Ixigo parent Le Travenues for Rs 226 Cr
The sale marks Elevation’s third divestment in Ixigo in recent months. In June, it offloaded 53.9 lakh shares, and in May, it sold another 21.5 lakh shares.
Elevation Capital has further pared its stake in Le Travenues Technology Ltd., the parent company of online travel aggregator Ixigo, through an open market transaction valued at Rs 226 crore.
SAIF Partners India IV Ltd, an affiliate of Elevation Capital, sold about 1.01 crore shares—or 2.59% of the company’s equity—on Tuesday, July 22. Following the transaction, its holding has decreased from 9.04% to 6.45% in the Gurugram-based travel tech company, according to a stock exchange disclosure.
The sale marks Elevation’s third divestment in Ixigo in recent months. In June, it offloaded 53.9 lakh shares worth Rs 97.4 crore, and in May, it sold another 21.5 lakh shares for Rs 38.27 crore, previous stock exchange filings showed.
Le Travenues, which operates travel platforms Ixigo, ConfirmTkt, and AbhiBus, reported a consolidated net profit of Rs 23.4 crore for the quarter ended March 2025. Its revenue for the period stood at Rs 152 crore.
It reported a 73% YoY increase in total revenue from operations for the quarter ended June 2024 (Q1 FY26), reaching Rs 314 crore, up from Rs 181.87 crore in the same period last year.
Net profit attributable to equity holders rose 28.4% to Rs 19.08 crore in Q1 FY26 compared with Rs 14.86 crore in the year-ago quarter, according to the consolidated financial statements filed by ixigo.
Edited by Suman Singh