All details for TSC India IPO: Dates, price, subscription, financials, objectives, KPIs, registrar, and company overview.
Price Band: ₹68–70 | Allotment July 28 | Listing July 30, 2025
TSC India IPO: At a Glance
IPO Timeline
| IPO Activity | Date |
|---|---|
| IPO Open Date | July 23, 2025 |
| IPO Close Date | July 25, 2025 |
| Tentative Allotment | July 28, 2025 |
| Refunds Initiation | July 29, 2025 |
| Credit of Shares to Demat | July 29, 2025 |
| IPO Listing Date | July 30, 2025 |
Anchor Investors
| Bid Date | Shares Offered | Anchor Portion Size (₹ Cr) | Lock-in (50%) | Lock-in (90%) |
|---|---|---|---|---|
| July 22, 2025 | 10,52,000 | 7.36 | Aug 27, 2025 | Oct 26, 2025 |
IPO Price & Lot Size
| Price Band | ₹68–70 per share |
|---|---|
| Market Lot | 2,000 Shares |
| Retail Min | 2 lots (4,000 shares) – ₹2,80,000 |
| Retail Max | 2 lots (4,000 shares) – ₹2,80,000 |
| S-HNI Min | 3 lots (6,000 shares) – ₹4,20,000 |
| S-HNI Max | 7 lots (14,000 shares) – ₹9,80,000 |
| B-HNI Min | 8 lots (16,000 shares) – ₹11,20,000 |
Company Financials (₹ Crore)
Bar Chart: Revenue, PAT & Net Worth
Line Chart: Revenue, PAT & Net Worth
| Period Ended | Assets | Revenue | Profit After Tax | EBITDA | Net Worth | Reserves & Surplus | Total Borrowing |
|---|---|---|---|---|---|---|---|
| 31 Mar 2025 | 61.45 | 26.32 | 4.93 | 8.75 | 15.83 | 5.48 | 25.53 |
| 31 Mar 2024 | 53.33 | 20.59 | 4.72 | 8.19 | 8.74 | 6.82 | 17.76 |
| 31 Mar 2023 | 26.16 | 9.85 | 1.22 | 2.82 | 4.56 | 2.64 | 13.08 |
Key Performance Indicators (KPI)
| KPI | Values |
|---|---|
| Market Cap | ₹98.34 Cr |
| ROE | 31.13% |
| ROCE | 19.49% |
| RoNW | 31.13% |
| PAT Margin | 19.11% |
| EBITDA Margin | 33.96% |
| Price to Book Value | 1.55 |
| EPS (Pre IPO) | 4.53 |
| EPS (Post IPO) | 3.85 |
| P/E (Pre IPO) | 15.44 |
| P/E (Post IPO) | 18.17 |
Objects of the Issue
| S.No. | Objects | Expected Amount (₹ Million) |
|---|---|---|
| 1 | Working Capital Requirements of the Company | 220 |
| 2 | General Corporate Purposes | — |
| 3 | Issue Expenses | — |
About TSC India Ltd.
Incorporated: 2003
Business: Travel management company specializing in comprehensive air ticketing services; focus on B2B and corporate sectors.
Operations: Jalandhar, Chandigarh, Lucknow, Ahmedabad, Jaipur, New Delhi, Pune.
Clients: Travel agencies, corporations, tour operators.
Booking Stats: 420+ daily, 3,000 weekly, 12,000 monthly; 2,100+ customers (June 30, 2024).
Services:
- Booking management (air tickets, travel planning)
- Analytical reporting (travel patterns, optimization)
- Cost-effective solutions & competitive pricing
- Consulting & negotiation for travel needs
- 24/7 emergency support
- Transparent pricing & policies
- Integrated one-stop platform for travel info/services
- Customer-focused, efficient service
Promoters: Ashish Kumar Mittal, Puja Mittal, Vinay Gupta
Competitive Strengths:
- Automated accounting solutions
- Real-time flight/hotel updates
- End-to-end booking support
- Instant booking/confirmation
- Diverse travel services (flights, hotels, car rentals)
- Global Distribution System (GDS) integration
Contact Details
Office No. 3, 2nd Floor, Midland Financial Centre, Plot No. 21-22, G.T. Road, Jalandhar, Punjab, 144001
Phone: +91-181-4288888
Email: cs@tscpl.biz
Website: https://www.tscindialimited.com/
Frequently Asked Questions (FAQ)
The price band for TSC India IPO is ₹68–₹70 per share, as announced in the Draft Red Herring Prospectus (DRHP).
The IPO will open for subscription on July 23, 2025, and close on July 25, 2025, as per the announced timeline.
The minimum investment for retail investors is 2 lots (4,000 shares), which amounts to ₹2,80,000 at the upper end of the price band (₹70 per share).
You can apply for the IPO through:
- Your bank's net banking platform (ASBA facility)
- Brokerage accounts (online or offline)
- Registered investment platforms
- Designated branches of syndicate banks
The exact application process will be detailed in the Red Herring Prospectus (RHP) when the IPO dates are confirmed.
TSC India Ltd. is a travel management company specializing in air ticketing services, primarily for B2B and corporate clients. Their revenue sources include:
- Commissions from air ticket bookings (420+ daily, 12,000+ monthly)
- Service fees for travel planning and consulting
- Revenue from hotel and car rental bookings
- Analytical reporting and cost optimization services for corporate clients
The company leverages Global Distribution System (GDS) integration and automated solutions for efficient service delivery.
Key risks to consider include:
- Market risk: Sensitivity to travel industry demand and economic fluctuations
- Competition: Intense competition from other travel management companies and online platforms
- Regulatory risks: Compliance with aviation and travel regulations
- Operational risks: Dependence on GDS integration and third-party service providers
- Financial risks: Relatively high debt-to-equity ratio and reliance on working capital
Investors should review the risk factors in the RHP before investing.
As per the DRHP, the net proceeds from the IPO (₹25.89 Cr) will be used for:
- Working capital requirements (₹220 million)
- General corporate purposes
- Issue expenses
Specific allocations will be detailed in the RHP.
TSC India has:
- Revenue growth from ₹9.85 Cr (FY23) to ₹26.32 Cr (FY25)
- PAT growth from ₹1.22 Cr (FY23) to ₹4.93 Cr (FY25)
- Net worth growth from ₹4.56 Cr (FY23) to ₹15.83 Cr (FY25)
- Operations in 7 cities (Jalandhar, Chandigarh, Lucknow, Ahmedabad, Jaipur, New Delhi, Pune)
- 2,100+ customers and 12,000+ monthly bookings as of June 30, 2024
- 77 employees as of September 30, 2024
The company emphasizes automation, GDS integration, and customer-focused services for growth.
As of March 31, 2025:
- Total borrowings: ₹25.53 crore
- Debt-to-equity ratio: Not explicitly stated but implied by financials
- EBITDA: ₹8.75 Cr, supporting debt servicing capacity
The IPO proceeds will support working capital, potentially improving the financial structure.
The book running lead managers for TSC India IPO are not specified in the provided data. They will be announced in the RHP and are responsible for managing the IPO process, including investor roadshows, price discovery, and allocation.
