Ixigo Lands $11 Million From Schroder Fund, Elevation Capital Trims Stake
Asset management company Schroder International Selection Fund has made an investment in online travel agency Ixigo. Through the block deal investment, the financial institution acquired a 1.38% stake in Ixigo, the online travel agency said in a statement.
On Thursday, Ixigo shareholder Elevation capital sold 7.5 million shares in a block deal for about INR 1.35 billion ($15.7 million). Schroder acquired nearly 5.37 million shares for INR 969 million ($11.2 million).
Last month, Elevation offloaded over 21.5 lakh shares for INR 382 million ($4.4 million). Even with the block deal, Elevation Capital still holds 12.08% in Ixigo.
According to Ixigo, Elevation got a 2500% return on its latest partial
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Entrepreneur
9 minutes ago
- Entrepreneur
Avendus Future Leaders Fund III Invests INR 300 Cr in Aragen Life Sciences
The transaction involves the purchase of a minority stake and represents the fund's second investment from its third vintage, following its backing of La Renon Healthcare earlier this year. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Avendus Future Leaders Fund III, part of the Avendus Group, has led an INR 300 crore investment in Aragen Life Sciences, with participation from SBI Life Insurance. The transaction involves the purchase of a minority stake and represents the fund's second investment from its third vintage, following its backing of La Renon Healthcare earlier this year. The exact size of the stake acquired in Aragen has not been disclosed. Aragen Life Sciences, formerly known as GVK Biosciences, was founded in 2001 by G V Sanjay Reddy. Headquartered in Hyderabad, the company is a global research and development and manufacturing solutions provider to the life sciences industry. It offers services across the drug development cycle, from early-stage discovery to commercial manufacturing, for both small molecules and biologics. Under the leadership of chief executive Manni Kantipudi, Aragen has invested extensively in advanced technology platforms, as well as digital and artificial intelligence capabilities, to serve the needs of global drug innovators. Ritesh Chandra, Managing Partner of Avendus Future Leaders Fund, said, "Our investment in Aragen reflects our strong conviction in the CRDMO market in India. As global pharmaceutical companies increasingly turn to India for drug research, Aragen is well-positioned to capture these tailwinds." Kantipudi described Aragen as a trusted partner in the contract research, development, and manufacturing space. "We are excited to welcome Avendus and SBI Life Insurance as long-term shareholders," he said. The company's existing investors include Goldman Sachs and Quadria Capital. It stated that the fresh capital would help broaden its shareholder base and reinforce its role as a partner to pharmaceutical innovators around the world. Avendus Future Leaders Fund manages over INR 3,750 crore across its funds and focuses on investing in late-stage market leaders across sectors. Its portfolio includes Lenskart, Sagility, SBI General Insurance, Licious, Juspay, Zeta, Indegene, Veritas Finance, FirstCry, and Avanse Financial Services. The fund recently exited its investment in Juspay Technologies and earlier this year invested INR 160 crore in La Renon Healthcare. Chandra noted that the pharmaceutical sector is witnessing growth rates of 16 to 17 percent and forecast that India could approach China's 14 percent share of the global market within three to four years, up from the current 8 percent. He added that India's growing manufacturing capacity and abundant talent make it an attractive destination for global companies seeking to diversify supply chains. While the fund remains cautious on urban consumer markets, Chandra said rural consumption may offer greater resilience in the current economic environment.
CNBC
10 minutes ago
- CNBC
CNBC Daily Open: Trump says tariffs haven't caused inflation — economists think they will soon
Don't mess with DJ D-Sol — Goldman Sachs CEO David Solomon's stage name when he's rocking the clubs in his other life as a DJ. U.S. President Donald Trump criticized Goldman on Tuesday for predicting that tariffs would push up inflation, and said Solomon "should go out and get himself a new Economist or, maybe, he ought to just focus on being a DJ." In response, Goldman defended the results of its study, according to a CNBC interview with the bank's economist David Mericle. "If the most recent tariffs, like the April tariff, follow the same pattern that we've seen with those earliest February tariffs, then eventually, by the fall, we estimate that consumers would bear about two-thirds of the cost," Mericle said. Goldman, in fact, is not the only Wall Street bank putting forth this view. UBS senior economist Brian Rose wrote that "the downward trend in core inflation has been broken as tariffs start to feed through into retail prices," while Michael Feroli, chief U.S. economist at JPMorgan Chase, said in a note that tariffs could "add 1-1.5% to inflation, some of which has already occurred." Of course, a consensus view does not mean predictions will come true. Recall how economists were all but certain a U.S. recession would happen in 2023 — only for the economy to grow 2.5% that year. In any case, if Goldman — and economists from other banks —is proven wrong on tariff-driven inflation, and Trump, in a hypothetical scenario, manages to somehow push Solomon out of his position, at least DJ D-Sol will still be out there spinning agree that higher tariff inflation is coming. Despite Trump on Tuesday slamming Goldman Sachs for predicting higher consumer prices, the bank is standing by its research. Other Wall Street economists agree with its call. Trump is considering 11 candidates for Fed chair. Among the list of potential nominees are Federal Reserve officials, a Bush administration economic advisor, Jefferies Chief Market Strategist David Zervos and BlackRock's Rick Rieder. New records for U.S. stocks again. The S&P 500 and Nasdaq Composite climbed Wednesday to close at fresh highs, with the Dow Jones Industrial Average also rising. Shares of Paramount Skydance popped 36.7%. However, Asia-Pacific markets mostly fell Thursday. xAI's co-founder Igor Babuschkin leaves. Babuschkin said he's starting a venture firm to support AI safety research and invest in startups. Musk wrote, in response, "Thanks for helping build @xAI! We wouldn't be here without you." [PRO] The state of India's IT stocks after layoffs. Big Indian corporations, such as Tata Consultancy Services, Infosys and Wipro, have either trimmed their workforce or hiring. Here's what analysts think of the sector's stocks in light of those job cuts. In one of the world's most expensive cities, more workers are living paycheck to paycheck The Singapore consumer's reputation for financial prudence and high savings is showing signs of strain. Dealing with rising costs and a pursuit of experiences and self-care are taking precedence over long-term financial planning, experts observed. Some 60% of workers in Singapore were living paycheck to paycheck in 2024 — notably higher than regional peers such as China, South Korea, Japan and Indonesia, and above the Asia-Pacific average of 48%, a 2025 research from the payroll company ADP found.
Bloomberg
10 minutes ago
- Bloomberg
The China Show 8/14/2025
'Bloomberg: The China Show' is your definitive source for news and analysis on the world's second-biggest economy. From politics and policy to tech and trends, Yvonne Man and David Ingles give global investors unique insight, delivering in-depth discussions with the newsmakers who matter. (Source: Bloomberg)
