By Aloke Bajpai
Copyright indiatimes
Global investor Schroder International Selection Fund has increased its stake in Le Travenues Technology, the parent company of online travel aggregator Ixigo, to 7.18% by acquiring 0.011% (41,638 shares) estimated at Rs 1.13 crore.The fund acquired the shares on September 18. It had earlier acquired 53.6 lakh shares in the company in June for Rs 96.9 crore. With this, the fund holds 280 lakh shares in the Gurgaon-based company. Founded in 2007 by Aloke Bajpai and Rajnish Kumar, Ixigo allows users to book train, flight, and bus tickets while offering various utility tools and services such as train PNR status, and confirmation predictions and updates on train seat availability.It also provides personalised recommendations and automated customer support. According to the company, it has 544 million annual active users and 84 million monthly active users. Ixigo posted a net profit of Rs 19 crore for the quarter ended June 30, marking a 27% rise from a year earlier. Its operating revenue surged 73% to Rs 314 crore on account of growth across all lines of business, and effective cross-selling and up-selling to its user base, as well as artificial intelligence (AI)-driven efficiency.This June, Elevation Capital (formerly Saif Partners India) sold 53.9 lakh shares in Le Travenues Technology for Rs 97.4 crore, clocking 25X returns.
