Latest news with #RajnishKumar
Economic Times
19 hours ago
- Business
- Economic Times
Elevation Capital sells Ixigo shares worth Rs 97.4 crore; Schroder buys stake
Elevation Capital (formerly Saif Partners India) has sold 53.9 lakh shares in Le Travenues Technology, the parent company of online travel aggregator Ixigo, for Rs 97.4 crore. The fund has made a 25x return in this sale. According to disclosures filed with the BSE, Elevation sold the shares at Rs 180 each on Thursday. At the same time, global investor Schroder International Selection Fund has acquired 53.6 lakh shares in the company worth Rs 96.9 crore. This comes right after Elevation Capital sold 21.5 lakh shares in Ixigo last month for Rs 38.27 crore. As of the quarter ended March 31, Elevation held a stake of around 14% in the company, holding 5.46 crore shares. It continues to hold a 12% stake in the company. Elevation Capital had invested Rs 63.1 crore in Ixigo through various tranches. Prior to this, the early-stage venture capital firm had sold shares worth Rs 100 crore through a pre-IPO secondary sale and sold shares worth around Rs 181 crore from the offer for sale (OFS) component of the company's IPO. Ixigo saw its net profit surge 128% year-on-year (YoY) to Rs 16.7 crore for the quarter ended March. The company had reported operating revenue of Rs 284 crore for the quarter, up 72% from Rs 165 crore a year ago, on account of growth across all lines of business. 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 for train seat availability. It also provides personalised recommendations and automated customer support. According to the company, it has 544 million annual active users with 83 million monthly active listed on the exchanges on June 18 last year at Rs 138, a premium of 48.5% over its issue price of Rs 93. It closed on Thursday at Rs 176.05 on the BSE.
Time of India
19 hours ago
- Business
- Time of India
Elevation Capital sells Ixigo shares worth Rs 97.4 crore; Schroder buys stake
Elevation Capital (formerly Saif Partners India) has sold 53.9 lakh shares in Le Travenues Technology , the parent company of online travel aggregator Ixigo , for Rs 97.4 crore. The fund has made a 25x return in this sale. According to disclosures filed with the BSE , Elevation sold the shares at Rs 180 each on Thursday. At the same time, global investor Schroder International Selection Fund has acquired 53.6 lakh shares in the company worth Rs 96.9 crore. This comes right after Elevation Capital sold 21.5 lakh shares in Ixigo last month for Rs 38.27 crore. As of the quarter ended March 31, Elevation held a stake of around 14% in the company, holding 5.46 crore shares. It continues to hold a 12% stake in the company. Elevation Capital had invested Rs 63.1 crore in Ixigo through various tranches. Prior to this, the early-stage venture capital firm had sold shares worth Rs 100 crore through a pre-IPO secondary sale and sold shares worth around Rs 181 crore from the offer for sale (OFS) component of the company's IPO . Ixigo saw its net profit surge 128% year-on-year (YoY) to Rs 16.7 crore for the quarter ended March. The company had reported operating revenue of Rs 284 crore for the quarter, up 72% from Rs 165 crore a year ago, on account of growth across all lines of business. 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 for train seat availability. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories It also provides personalised recommendations and automated customer support. According to the company, it has 544 million annual active users with 83 million monthly active users. Ixigo listed on the exchanges on June 18 last year at Rs 138, a premium of 48.5% over its issue price of Rs 93. It closed on Thursday at Rs 176.05 on the BSE.
Time of India
4 days ago
- Time of India
‘Itni goliyaan maarungi...': UP womanpoints gun at CNG stn staff; booked
1 2 Lucknow: In a dramatic incident that has gone viral on social media, a woman can be seen pointing a gun at a CNG fuel station attendant in Uttar Pradesh's Hardoi district on Monday. Reacting to an argument of the attendant with her father, the woman can be seen brandishing the revolver and threatening to shoot him before her mother pulls her away, and the family leaves the scene. Pressing the .32 bore licensed revolver's barrel to his chest, the woman said, "Itni goliyaan maroongi ki ghar wale bhi pehchanne se mana kar denge" (Will pump in so many bullets that even your family will not be able to identify your body). Rajnish Kumar, the CNG station attendant, has lodged a formal complaint against the girl, Ariba Khan, 21, and her parents, Ehsan Khan and Husnbano of Shahabad area. The dispute arose after the gas station staff, as per the safety norms, asked the occupants of a car to step out of the vehicle as he was refilling the CNG. The car occupants objected to this, and a heated exchange ensued. Police said the licensed revolver of Ehsan, along with 25 live cartridges, has been seized and further investigations were underway. The case was registered under BNS sections 115(2) (voluntarily causing hurt), 352 (intentional insult), and 351(3) (criminal intimidation) and Arms Act. Hardoi SP Neeraj Jadaun said they have written to the district administration for the cancellation of the arms licence. "The accused said the CNG station worker abused them, following which they got furious and took out the revolver," said the officer. The owner of the revolver runs a business of tiles and marbles while his only daughter is a NEET aspirant, said police.
New Indian Express
5 days ago
- New Indian Express
On camera, woman points revolver at gas station worker in Uttar Pradesh
A woman in Uttar Pradesh reportedly pointed a gun at the CNG station salesman and threatened to shoot him dead. The video of the woman with the gun, recorded by CCTV cameras installed at the station, has gone viral. The video shows the woman pointing a gun at the salesman after the family was asked to get out of the car during CNG refuelling. The incident, according to NDTV, took place on Sunday evening in Uttar Pradesh's Hardoi. When a family, a per the report, reached the fuel station to get CNG refilled, the gas station worker, identified as Rajnish Kumar asked the man inside the car, Ehsan Khan and his family to step out of the car to enable refuelling of the car. However, Ehsan Khan refused to step out and picked up a quarrel with Rajnish. The wordy quarrel got worse when Ehsan Khan's daughter Ariba picked up a revolver from inside the car and confronted the worker reportedly saying, "Itni goliyaan maarugi ki ghar wale pehchaan nahi payege (I will shoot so many bullets that your family won't be able to recognise you)." Before things could get worse, Ariba's mother took her back into the car. Following this, Rajnish Kumar filed a complaint with the police against the family of three. Police took the three persons into custody and seized the revolver registered under the name of Ehsan Khan. Further investigation is on.
News18
10-06-2025
- Business
- News18
Is The SBI Chairman's Sea-Facing Bungalow Really Worth Rs 10 Crore A Month?
Last Updated: Former SBI chairman Rajnish Kumar once remarked in a podcast that the market rent of the SBI chairman's Malabar Hill residence could touch Rs 10 crore a month What kind of life does the chairman of the country's apex bank lead? If you thought a massive salary and corporate bonuses like their private sector counterparts, think again. The story of Dinesh Kumar Khara, former chairman of the State Bank of India (SBI), offers a fascinating contrast; one that blends modest paychecks with extravagant perks, all courtesy of the public sector's unique compensation model. During the financial year 2022–23, Khara took home a cash salary of just Rs 37 lakh – yes, you read that right. That's a mere 7.5% bump from the previous year, and dramatically lower than what CEOs in the private banking sector command. For context, HDFC Bank CEO Sashidhar Jagdishan earned Rs 6.5 crore in the same period – about 17 times more than Khara's earnings. However, despite the humble figure on paper, the perks are nothing short of princely. Khara was allotted a government-owned sea-facing bungalow in Mumbai's ultra-exclusive Malabar Hill, had access to a chauffeur-driven luxury car worth Rs 30-40 lakh, and enjoyed medical coverage, domestic and international travel privileges – all without spending a rupee from his pocket. And the bungalow? That's where eyebrows really shoot up. Former SBI chairman Rajnish Kumar once remarked in a podcast that the market rent of the SBI chairman's Malabar Hill residence could touch Rs 10 crore a month, a claim that has drawn both astonishment and skepticism in equal measure. While some dismiss the figure as inflated, the fact that a public sector official occupies such high-value real estate underscores the enormous non-monetary value attached to the post. Private banks, on the other hand, operate in a cut-throat, profit-driven world. To attract and retain top-tier talent, they offer multi-crore annual salaries, massive bonuses, and equity-based incentives that can be worth crores. Will PSU Banks Lose Talent? That's a growing concern. Many experts believe that the rigid pay structures in the public sector could drive talented bankers towards private banks or fintech firms. Yet, there are many who still value the stability, prestige, and pension security that a government job offers. The story doesn't change much with time either. When Khara's predecessor, Rajnish Kumar (SBI Chairman from 2017 to 2020), held the reins, he too drew a similarly modest salary and enjoyed the same official bungalow and perks. The faces may change, but the framework remains frozen. First Published: June 10, 2025, 14:22 IST
