One of India’s biggest startup bets has just paid off — big time. In a blockbuster exit move, Elevation Capital has sold shares worth Rs 226 crore in
One of India’s biggest startup bets has just paid off — big time. In a blockbuster exit move, Elevation Capital has sold shares worth Rs 226 crore in Ixigo’s parent company, Le Travenues Technology, locking in an eye-popping 31.6X return on its investment.
This latest offload, executed through a bulk deal, continues Elevation’s systematic stake reduction in the travel-tech giant following Ixigo’s public listing. But while Elevation cashes out, global investor Schroder Investment Management is doubling down — quietly snapping up shares and becoming a major stakeholder with over 5.17% ownership.
So what does this high-stakes game of buy-and-sell mean for Ixigo’s future?
According to market filings, Elevation sold 1.01 crore shares at an average price of Rs 226 per share, pulling in Rs 226+ crore in just this latest round. The firm’s stake has now dropped from 9.04% to 6.45%, continuing a carefully executed exit strategy.
This is not their first cash-out:
Total secondary sale proceeds to date: Over Rs 361 crore.
Return on investment: A staggering 31.6X.
That’s the kind of outcome VCs dream of.
While Elevation trims its position, Schroder Investment Management has made a strategic move — buying an additional 16.6 lakh shares from the open market. This brings their total stake in Ixigo to 5.176%, elevating them to the list of substantial shareholders.
With a reputation for long-term, value-driven investing, Schroder’s increasing interest signals strong confidence in Ixigo’s growth story, especially in the post-IPO travel tech space.
The latest activity around Ixigo’s stock paints a fascinating picture of how institutional investors are realigning their positions post-IPO:
All this points to one truth: India’s travel-tech sector is red hot — and Ixigo is right in the middle of it.
Ixigo has emerged as a strong performer among recently listed Indian tech companies, riding the wave of surging domestic travel demand and digital adoption. Its strategy of targeting tier 2 and tier 3 travelers has allowed it to dominate segments often ignored by global giants.
With institutional backing growing and early VCs cashing out profitably, Ixigo is entering a new phase of maturity — where it will be judged not just as a startup, but as a public tech company with real expectations.
Investors are betting that Ixigo isn’t done growing yet.
Elevation Capital’s timed exit from Ixigo will go down as a textbook case of VC investing done right. Meanwhile, Schroder’s aggressive entry tells us something else: the story is far from over.
This is more than just a stock shuffle — it’s a passing of the baton, from early believers to long-term players.
And as the dust settles, one thing is clear: Ixigo remains one of the hottest companies to watch in India’s digital travel revolution.
