Schroder Buys Into Ixigo Amid India Travel Surge

Schroder International Selection Fund has acquired a substantial stake in India-based online travel platform Ixigo through a block deal with Elevation Capital. The transaction, completed late last week, saw Elevation sell approximately 7.5 million shares for $15.7 million, with Schroder purchasing around 5.37 million shares valued at $11.2 million. Following the deal, Elevation Capital’s holding in Ixigo has decreased from 14.02% to 12.08%.

Founded in 2007 as a metasearch engine, Ixigo has evolved into a full-scale online travel agency, offering Indian travelers a platform to book flights, hotels, and ground transportation. The company went public in June 2023 and has since benefited from India’s rapid economic growth and a surge in domestic travel demand.

Ixigo’s recent investor presentation highlights impressive performance metrics, including a 72% increase in revenue and a 2.4x rise in net profit year-over-year. CEO Aloke Bajpai likened India’s travel market trajectory to that of China over a decade ago, pointing to rising GDP per capita, growing discretionary income, and increasing digital penetration as major growth catalysts.

Over the past few years, Ixigo has expanded aggressively through acquisitions. In 2021, it acquired train booking platform Confirmtkt and bus operator Abhibus. It also raised $53 million to support its growth strategy. In early 2023, the company invested $3.1 million in FreshBus, a startup offering electric intercity bus services, further reinforcing its commitment to innovation and sustainable mobility.

The Schroder stake acquisition reflects growing investor confidence in India’s online travel sector and Ixigo’s position as a leading player in a fast-expanding market.

Tags: phocuswire, SyndicEx250629B

Schroder Buys Into Ixigo Amid India Travel Surge

Related Posts