Elevation Capital Sells Stake in Ixigo Worth INR 97.4 Cr
Previously, Elevation had also sold INR 100 crore worth of shares in a pre-IPO deal, and another INR 181 crore during the IPO through an offer-for-sale.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Venture capital firm Elevation Capital, formerly known as SAIF Partners, sold 5.4 million shares in online travel platform Ixigo for INR 97.4 crore, marking another significant stake reduction in the company. The shares were offloaded at INR 180.50 per share via its SAIF Partners India IV Limited investment vehicle.
On the same day, global fund manager Schroder stepped in as a buyer. Its Asian Total Return Fund purchased 5.37 million shares in Ixigo for INR 96.9 crore, also at INR 180.50 per share, showing continued investor confidence in the travel-tech platform.
This marks Elevation's second major sale in recent months. In May, the firm sold 2.15 million shares at INR 178 each, earning INR 38.27 crore. Combined, these transactions total INR 135.7 crore in returns.
Elevation Capital, known for early bets on Paytm, Meesho, and Swiggy, originally bought Ixigo shares at just INR 7.14 each, according to the company's draft red herring prospectus (DRHP). This gives the firm an impressive 25X return on its Ixigo investment.
Previously, Elevation had also sold INR 100 crore worth of shares in a pre-IPO deal, and another INR 181 crore during the IPO through an offer-for-sale. As of February 2025, it was still the largest institutional shareholder, holding 14% of Ixigo.
Ixigo, officially known as Le Travenues Technology Limited, is seeing strong business growth. In Q4 FY25, its revenue from operations jumped 72% year-on-year to INR 284.1 crore, and Gross Transaction Volume (GTV) rose 65% YoY to INR 4,418.4 crore. Flight and bus bookings drove much of this growth with a 92% surge, while train bookings grew by 41%.
The company also posted a Profit After Tax of INR 16.8 crore, more than double the INR 7.3 crore in the same quarter last year—an impressive 128% rise, signaling strong financial health and investor interest in the growing travel platform.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New York Times
35 minutes ago
- New York Times
Should I Keep Paying Rent Increases, or Dent My Savings With a Down Payment?
Q: I rent a one-bedroom in a high-rise doorman building with many amenities on the Upper West Side. The rent went up substantially in the second year of the lease, but I wasn't ready to move, so I renewed. Now I'm thinking it might be better to buy an alcove studio co-op apartment in the same neighborhood, rather than deal with rent increases. Even with monthly mortgage and maintenance, I'd probably save about $1,000 a month. But as a 65-year-old retiree, does it make sense to use a portion of my retirement savings as a down payment? Or should I keep the money in my investment account? A: You ask an age-old question: whether it's better to rent or to own. The answer will be different for everyone based on financial factors and lifestyle preferences. You said that you have calculated a $1,000-per-month savings with buying, but your analysis shouldn't stop there. Yes, your rent will likely go up every year, while your mortgage payments would be more stable. But co-op maintenance fees will rise and building assessments can arrive with little warning. 'When you own, everything is your problem,' said Ally Jane Ayers, co-founder of the investment firm Brooklyn Fi. Owning builds equity and can have tax benefits. But consider the lost investment income and mortgage interest payments. If you take money out of your retirement savings, be sure to account for the tax implications. If you need the money later, it will be tied up in your home. As an alternative, you could borrow against the value of your taxable brokerage accounts through a securities-backed line of credit, which keeps your portfolio intact and avoids the taxes generated by a withdrawal, Ms. Ayers said. Another consideration: How long will you live in a home that you purchase? It's difficult to recoup your costs if you won't be staying for seven to 10 years. The Upshot at The Times built a handy rent vs. buy calculator that adjusts based on your financial situation. There are other factors at play: If you are renting and have a bothersome neighbor, it will probably be easier to move than if you own your apartment. On the other hand, if you own and you don't like the kitchen, you can renovate. Finally, your move would diminish your living space, which shouldn't be overlooked, said Melissa Cohn, regional vice president at William Raveis Mortgage. 'If you're downsizing from a one-bedroom to a studio, you have to think about lifestyle and happiness in your home,' she said.
Yahoo
44 minutes ago
- Yahoo
5 AI stocks to consider buying and holding for the long term
Many AI applications are still in development, offering ground-floor buying opportunities in their stocks. Below are some established companies that five of contract writers like as investments to consider buying to capitalise on this transformational technology. What it does: Alphabet is a global technology company best known for Google, YouTube, Android, and cloud services. By Mark Hartley. When considering an AI investment for the long term, Google's parent company Alphabet (NASDAQ: GOOG) stands out. It has emerged as a key player in the AI space, leveraging its vast data resources and computational power to dig deep roots into the industry. Through DeepMind and its Gemini AI models, Alphabet is at the forefront of generative AI development. Google Cloud offers scalable AI tools and infrastructure for businesses, while AI enhancements in products like Search, Gmail, and YouTube are well-positioned to benefit from advertising revenue. Alphabet's expansive ecosystem gives it a strategic advantage in training and deploying AI models at scale. A significant risk, however, lies in the potential disruption of its core search business. As AI chatbots and generative search become more prevalent, traditional search advertising could face margin pressure. Additionally, if faces increased regulatory scrutiny on data usage, antitrust concerns and competition from rivals like Microsoft and Amazon. Mark Hartley doesn't own shares in any of the stocks mentioned. What it does: Cellebrite is the global leader in decrypting mobile phones and other devices supporting digital forensic investigations. By Zaven Boyrazian. Many AI stocks today are unproven. That's why I prefer established players leveraging AI to improve their existing mission-critical products like Cellebrite (NASDAQ:CLBT). Cellebrite specialises in extracting encrypted data from mobile phones and other devices aiding law enforcement and enterprises in criminal and cybersecurity investigations. Over 90% of crime commited today has a digital element. And when it comes to decrypting mobile phones, Cellebrite is the global gold standard. The company is now leveraging AI to analyse encrypted data – drastically accelerating a task that's historically been increadibly labour intensive identifying patterns, discovering connections, and establishing leads. Most of Cellebrite's revenue comes from law enforcement, exposing Cellebrite to the risk of budget cuts. In fact, fears of lower US federal spending is why the stock dropped sharply in early 2025. And with a premium valuation, investors can expect more volatility moving forward. But in the long run, Cellebrite has what it takes to be an AI winner in my mind. That's why I've already bought shares. Zaven Boyrazian owns shares in Cellebrite. What it does: Dell Technologies provides a broad range of IT products and services and is an influential player in AI. By Royston Wild. Dell Technologies (NYSE:DELL) isn't one of the more fashionable names in the realm of artificial intelligence (AI). The good news is that this means it trades at a whopping discount to many of its peers. For this financial year (to January 2026), City analysts think earnings will soar 41% year on year, leaving it on a price-to-earnings (P/E) multiple of 12.6 times. Such readings are as rare as hen's teeth in the high-growth tech industry. In addition, Dell shares also trade on a price-to-earnings growth (PEG) ratio of 0.3 for this year. Any reading below 1 implies a share is undervalued. These modest readings fail to reflect the exceptional progress the company's making in AI, in my opinion. Indeed, Dell last month raised guidance for the current quarter as it announced 'unprecedented demand for our AI-optimised servers' during January-March. It booked $12.1bn in AI orders in the last quarter alone, beating the entire total for the last financial year. Dell is a major supplier of server infrastructure that let Nvidia's high-power chips do their thing. Dell's shares could sink if unfavourable developments in the ongoing tariff wars transpire. But the company's low valuation could help limit the scale of any falls. Royston Wild does not own shares in Dell or Nvidia. What it does: Salesforce is a customer relationship management (CRM) software company that is developing AI agents. By Edward Sheldon, CFA. We've all seen the potential of artificial intelligence (AI) in recent years. Using apps like ChatGPT and Gemini, we can do a lot of amazing things today. These apps are just the start of the AI story, however. I expect the next chapter to be about AI agents – software programmes that can complete tasks autonomously and increase business productivity exponentially. One company that is active in this space is Salesforce (NYSE: CRM). It's a CRM software company that has recently developed an agentic AI offering for businesses called 'Agentforce'. It's still early days here. But already the company is having a lot of success with this offering, having signed up 8,000 customers since the product's launch last October. Now, Salesforce is not the only company developing AI agents. So, competition from rivals is a risk. I like the fact that the company's software is already embedded in over 150,000 organisations worldwide though. This could potentially give it a major competitive advantage in the agentic AI race. Edward Sheldon has positions in Salesforce. What it does: Salesforce is a cloud-based software company specialising in customer relationship management, helping businesses manage sales, marketing, support, and data. By Ben McPoland. I think Salefsforce (NYSE: CRM) looks well set up to benefit in the age of AI. Specifically, its Agentforce platform, which lets businesses deploy AI agents to handle various tasks, could be the company's next big growth engine. By the end of April, it had already closed over 8,000 deals, just six months after launching Agentforce. Half of those were paid deals, taking its combined data cloud and AI annual recurring revenue above $1bn. Granted, that looks like small potatoes set against the $41.2bn in sales it's expected to generate this fiscal year. But it's still very early days, and management reckons the digital labour market opportunity could run into the trillions of dollars. Of course, it's always best to treat such mind-boggling projections with a healthy dose of scepticism. And the company does face stiff competition in the AI agent space, especially from Microsoft and ServiceNow. Nevertheless, I'm bullish here. Salesforce is already deeply embedded in sales, service, and marketing. Its AI agents slot into existing workflows, which I think will prove to be a big advantage over unproven AI upstarts. Ben McPoland owns shares of Salesforce. The post 5 AI stocks to consider buying and holding for the long term appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. The Motley Fool UK has recommended Alphabet, Amazon, Cellebrite, Microsoft, Nvidia, and Salesforce. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
an hour ago
- Associated Press
Octa's oil outlook: Middle East tensions threaten global supply
KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 21 June 2025 - Crude oil, which is arguably the world's most important commodity, is on everybody's mind right now. The flared up conflict in the Middle East is increasing risks of a major oil supply shock, potentially pushing the price of 'black gold' into the stratosphere and completely derailing the global economy. In this article, Octa, a global retail broker, shares its expert opinion on the unfolding situation and outlines possible scenarios for the global oil market. Octa Broker As it often happens, the market started to price in the possibility of a new conflict in the Middle East well in advance. On 11 June, oil prices rose more than 4% after reports surfaced that the U.S. was preparing to evacuate its Iraqi embassy due to heightened security concerns in the region. Two days later, Israel and Iran exchanged airstrikes, pushing both Brent and West Texas Intermediate (WTI), the world's two major oil benchmarks, to five-month highs as investors anticipated potential supply disruptions from an open conflict. To this day, the conflict continues without resolution and oil prices remain elevated even as there are some telltale signs that the parties may be willing to negotiate. 'This burgeoning unrest introduces an unprecedented degree of volatility, significantly amplifying the specter of a catastrophic oil supply shock', argues Kar Yong Ang, a financial market analyst at Octa broker, adding that the conflict between Israel and Iran 'carries ominous potential to propel crude prices to unprecedented levels, thereby unleashing a cascade of detrimental effects that could, in the most dire of scenarios, cause a major global economic crisis'. Indeed, the Middle East in general and Iran in particular play a pivotal role in global energy markets. A substantial portion of the world's crude oil and liquified natural gas (LNG) is produced and exported in this region. Iran itself, despite the existing sanctions on exports, remains an important supplier of oil—notably, for China. Furthermore, a vast number of ships carrying crude oil and LNG transit through the Strait of Hormuz, a narrow yet vital chokepoint that Iran has repeatedly threatened to close. Should Iran act on this threat and block the strait, the repercussions would be quite severe, likely pushing global crude oil prices well above $100 per barrel, or even higher, due to the significant disruption of supply. Technically, if we look at a broader, long-term picture, WTI crude oil seems to be moving sideways with a minor bearish tilt. On a daily chart (see below), the price still has not escaped from the bearish parallel channel. However, due to the latest geopolitical news, the price has managed to rise above the 200-day moving average (MA) and seems poised to break above the critically important 77.60-78.00 area. 'Breaching the $80 handle should not be difficult if the current situation deteriorates sharply', says Kar Yong Ang. 'Continuing destruction of oil infrastructure in Iran, potential U.S. involvement in the war, countries' unwillingness to negotiate and, above all else, Iran's attempts to block the Strait of Hormuz, all of this will have a bullish impact on prices'. Indeed, a break above 80 level, would open the way towards 83.40, 85.20, 87.30, and 90.00 area. Alternatively, in case the hostilities moderate somewhat, other countries—particularly the U.S.—refrain from directly participating in the conflict, and both Israel and Iran express willingness to negotiate, bearish sentiment will immediately kick in. 'I think WTI oil may lose as much as 5 dollars per barrel in the blink of an eye should we see some progress in nuclear negotiations between Europeans and Iranians, which are due to commence in Geneva this Friday', concludes Kar Yong Ang. In this scenario, a break below 71.50 level would allow bears to target 67.80, 64.80 and 61.70. Overall, WTI crude price is now stuck in a broad range between $70 and $80. The move above and below these two levels will essentially indicate if the situation in the region is getting worse or is getting better. The chart below shows potential bullish and bearish targets, marked in green and red, respectively. NYMEX light sweet crude oil (WTI) daily chartSource: TradingView, Octa analysis and calculations ___ Disclaimer: This press release does not contain or constitute investment advice or recommendations and does not consider your investment objectives, financial situation, or needs. Any actions taken based on this content are at your sole discretion and risk—Octa does not accept any liability for any resulting losses or consequences. Hashtag: #Octa The issuer is solely responsible for the content of this announcement. Octa Octa
