Elevation Capital has sold a portion of its stake in Le Travenues Technology Ltd., the parent company of Ixigo, for 226 crore rupee (US$26.1 million).

The open market sale took place on July 22.

SAIF Partners India IV Ltd, affiliated with Elevation Capital, offloaded about 1.01 crore shares, or 2.59% equity, reducing its holding from 9.04% to 6.45%.

This marks Elevation Capital’s third stake reduction in recent months. In June, it sold 53.9 lakh shares for 97.4 crore rupee (US$11.3 million). In May, it divested 21.5 lakh shares worth 38.27 crore rupee (US$4.4 million).

Le Travenues operates Ixigo, ConfirmTkt, and AbhiBus.