Elevation Capital sold 5.4 million shares in online travel platform Ixigo for 97.4 crore rupee (US$11.2 million) on June 19, 2025, through its SAIF Partners India IV Limited entity.

The shares were sold at 180.50 rupee (US$2.08) each.

Schroder’s Asian Total Return fund bought 5.37 million shares at the same price, investing 96.9 crore rupee (US$11.2 million).

In May 2025, Elevation had sold 2.15 million Ixigo shares at 178 rupee (US$2.06) per share for 38.27 crore rupee (US$4.4 million).

The firm has sold shares worth 135.7 crore rupee (US$15.7 million) in recent months.

As of February 2025, Elevation Capital held a 14% stake in Ixigo, making it the largest institutional shareholder.

🔗 Source: YourStory

🧠 Food for thought

1️⃣ Travel tech investments yield exceptional returns despite sector volatility

Elevation Capital’s 25X return on Ixigo (purchased at ₹7.14, sold at ₹180.50) illustrates the significant rewards possible from long-term bets in travel technology despite the sector’s historical volatility 1.

This performance is especially notable considering the travel industry’s susceptibility to disruptions. Ixigo has navigated through multiple challenges since Elevation’s initial investment while continuing to grow its user base to 544 million annual active users 1.

The trend of significant returns extends beyond this single transaction, with Elevation previously exiting portions of its stake for ₹100 crore in pre-IPO sales and ₹181 crore during the IPO, suggesting consistent value creation over time 2.

Schroder Fund’s entrance as a buyer signals continued institutional confidence in India’s travel sector, even as early investors take profits. This highlights how mature travel platforms can attract diverse investor profiles throughout their lifecycle 3.

Elevation’s decision to reduce its stake gradually (from 14% to 12%) rather than exit completely indicates ongoing confidence in Ixigo’s growth trajectory despite taking profits on a portion of their holdings 1.

2️⃣ India’s travel market demonstrates exceptional growth rates amid global expansion

Ixigo’s recent financial performance, including 72% year-on-year revenue growth and a 128% profit increase, exemplifies the rapid expansion of India’s travel booking sector 4.