IPO Details
Bidding Dates
23 Jul '25 - 25 Jul '25
Minimum Investment
₹2,72,000/ 2 Lots (4,000 Shares)
Price Range
₹68-₹70
Maximum Investment
₹2,80,000/ 2 Lots (4,000 Shares)
Retail Discount
To be announced
Issue Size
₹25.89 Cr
Investor category and sub category
Retail Individual Investors (RII) | Non-institutional Investors (NII) | Qualified Institutional Buyers (QIB) |TSC India IPO Important Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Jul 23, 25
IPO Closing Date
Jul 25, 25
Basis of Allotment
Jul 28, 25
Initiation of Refunds
Jul 29, 25
IPO Listing Date
Jul 30, 25
About TSC India IPO
TSC India IPO is a book-built issue worth ₹25.89 crore, comprising a fresh issue of 36.98 lakh equity shares. The IPO opens for public subscription on July 23, 2025, and will close on July 25, 2025. The price band has been fixed between ₹68 to ₹70 per share.
Investors can apply in lots, with a lot size of 2,000 shares. For retail investors, the minimum investment required is ₹2,72,000 for 4,000 shares. For High Net-worth Individuals (HNIs), the minimum application size is 3 lots, or 6,000 shares, amounting to ₹4,20,000.
The allotment for the issue is expected to be finalised by July 28, 2025. TSC India is proposed to be listed on the NSE SME platform, with the listing date tentatively set for July 30, 2025.
Expert Global Consultants Private Limited is acting as the book-running lead manager for the IPO, while Bigshare Services Pvt Ltd has been appointed as the registrar to the issue. Prabhat Financial Services Ltd. will serve as the market maker. For complete details and risk factors, refer to the Red Herring Prospectus (RHP) of the issue.
Industry Outlook
- The global travel and tourism sector is projected to reach USD 11.1 trillion in 2024, reflecting a strong 21% growth over 2019 levels. This signals a robust global demand for travel services, benefiting service providers like TSC India Ltd.
- India recorded 9.2 million foreign tourist arrivals in 2023, up by 43.5% over the previous year, generating nearly USD 15 billion in forex earnings. The rise in international arrivals opens greater business opportunities for TSC India Ltd. in hospitality and travel services.
- Domestic tourism visits in India rebounded sharply to 1,731 million in 2022 from 678 million in 2021. This growth enhances demand for logistics, accommodation, and support services—key areas where TSC India Ltd. can expand its reach.
TSC India IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- A portion of the proceeds will meet day-to-day working capital needs to ensure smooth operations.
- Any remaining funds will be allocated toward general corporate purposes to strengthen overall business growth.
About TSC India Limited
TSC India Limited is a travel management company with over 20 years of experience, primarily serving the B2B and corporate sectors. Originally incorporated as TSC Travel Services Private Limited in 2003, the company later became a public limited entity and was renamed TSC India Limited in 2024.
Headquartered in Punjab, the company operates across multiple Indian cities, including Jalandhar, Chandigarh, Lucknow, Ahmedabad, Jaipur, New Delhi, and Pune. TSC India focuses on offering cost-effective and reliable air ticketing services. With strong partnerships across the travel ecosystem, including airlines and travel agents, the company manages various aspects of travel planning.
It has facilitated around 3,30,000 ticket bookings in the last 3 years, maintaining 100% booking accuracy. On average, the company handles over 13,000 bookings every month, reflecting a high level of operational efficiency.
The company’s mission is to enhance customer experience using seamless services and smart technology. TSC India aims to become the most preferred B2B travel company in the country, setting new benchmarks for reliability and customer service.
TSC India is supported by a team of more than 75 skilled professionals and continues to grow its presence in new markets. The company also owns a subsidiary, TSC Finserv Private Limited, a Non-Banking Finance Company engaged in the financing of various consumer and commercial goods. With a focus on technology, partnerships, and customer satisfaction, TSC India Limited is positioned for continued growth in the travel and tourism sector.
How To Check the Allotment Status of TSC India IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How To Apply for the TSC India IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the TSC India IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of TSC India IPO
Registered office: Office No. 3, 2nd Floor, Midland Financial Centre, Plot No. 21-22, G.T. Road, Jalandhar, Punjab, India, 144001
Phone: +91-181-4288888
E-mail:cs@tscpl.biz
TSC India IPO Reservation
|
Investor Category |
Shares Offered |
|
Market Maker Shares |
1,86,000 (5.03%) |
|
QIB Shares |
17,54,000 (47.43%) |
|
NII (HNI) Shares |
5,28,000 (14.28%) |
|
Retail Shares |
12,30,000 (33.26%) |
|
Total Shares |
36,98,000 (100.00%) |
TSC India IPO Lot Size
|
Application |
Lots |
Shares |
Amount |
|
Individual investors (Retail) (Min) |
2 |
4,000 |
₹2,72,000 |
|
Individual investors (Retail) (Max) |
2 |
4,000 |
₹2,80,000 |
|
S-HNI (Min) |
3 |
6,000 |
₹4,20,000 |
|
S-HNI (Max) |
7 |
14,000 |
₹9,80,000 |
|
B-HNI (Min) |
8 |
16,000 |
₹11,20,000 |
TSC India IPO Promoter Holding
The promoters of the company include Mr Ashish Kumar Mittal, Mrs Puja Mittal and Mr Vinay Gupta.
|
Share Holding Pre-Issue |
90.74% |
|
Share Holding Post Issue |
- |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
TSC India IPO Anchor Investors Details
TSC India IPO secured ₹7.36 crore through anchor investor allocation. The anchor bidding took place on July 22, 2025.
|
Particulars |
Details |
|
Anchor Investment Date |
July 22, 2025 |
|
Total Shares Allotted to Anchor Investors |
10,52,000 |
|
Total Investment from Anchor Investors |
₹7.36 crore |
|
Lock-in End Date for 50% Shares (30 Days) |
August 27, 2025 |
|
Lock-in End Date for Remaining Shares (90 Days) |
October 26, 2025 |
Key Performance Indicators for TSC India IPO
|
KPI |
Value |
|
RoCE (%) |
19.49 |
|
ROE (%) |
31.13 |
|
PAT Margin (%) |
19.11 |
|
EBITDA Margin (%) |
33.96 |
|
Price to Book Value |
1.55 |
TSC India IPO Prospectus
TSC India IPO Registrar and Lead Managers
TSC India IPO Lead Managers
- Expert Global Consultants Private Limited
Registrar for TSC India IPO
Bigshare Services Private Limited
- Contact Number: +91-22-6263 8200
- Email Address: ipo@bigshareonline.com
TSC India IPO Registrar
Financial Performance of TSC India Limited
| Particulars | Year ending on March 31, 2025 | Year ending on March 31, 2024 | Year ending on March 31, 2023 |
|---|---|---|---|
| Revenue from Operation (in ₹ lakh) | 2,578.13 | 1,936.54 | 939.32 |
| Profit/ (loss) for the year (in ₹ lakh) | 492.72 | 471.87 | 122.13 |
| Net Worth (in ₹ lakh) | 1,582.91 | 873.59 | 456.30 |
| Total Borrowings (in ₹ lakh) | 2,552.62 | 1,775.82 | 1,308.01 |
| Return on Equity (RoE) (%) | 31.13 | 54.01 | 26.77 |
| Return on Capital Employed (RoCE) (%) | 19.49 | 27.73 | 12.67 |
| EBITDA (in ₹ lakh) | 875.49 | 818.77 | 281.59 |
Know before investing
Strengths
5-
Automated accounting reduces manual work and boosts financial transparency for partners.
-
Real-time updates on travel services help improve client trust and decisions.
-
End-to-end booking support ensures smooth service from inquiry to confirmation.
-
Instant booking feature speeds up reservations, cutting delays and boosting satisfaction.
-
Wide travel inventory lets partners meet diverse client needs with ease.
Risks
5-
₹180.17 lakh in unsecured loans may be recalled, affecting liquidity.
-
Heavy reliance on working capital may hinder operations if funding slows.
-
Business depends on global travel trends, which are volatile and unpredictable.
-
Leased office spaces may disrupt operations if lease terms are not renewed.
-
Suppliers may cut commissions, directly impacting revenue and service pricing.
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TSC India IPO FAQs
TSC India IPO is a book built issue IPO. It runs from July 23, 2025, to July 25, 2025.
The Basis of Allotment will happen on Monday, July 28, 2025.
The IPO subscription window will open on July 23, 2025.
The minimum lot size retail investors can subscribe to is 2 lots, and the lot size is 2,000 shares.
The listing date for TSC India IPO is Wednesday, July 30, 2025.
The issue size of the TSC India IPO is ₹25.89 crore.
The open and close dates for TSC India IPO are from July 23, 2025, to July 25, 2025.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
You will receive a notification once your order is successfully placed with the exchange after the bidding starts.
Bigshare Services Private Limited is the registrar responsible for managing the IPO allotment process and handling investor queries.
TSC India IPO is proposed to be listed on the SME platform of the National Stock Exchange (NSE).
