TSC India was incorporated on July 18, 2003. The company is a travel management firm specializing in air ticketing services for B2B and corporate clients. It partners with airlines and agents to offer cost-effective, streamlined travel solutions
| Bidding Dates |
|---|
| 23 Jul 2025 - 25 Jul 2025 |
| Subscription |
|---|
| 68.28x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹2,72,000 | 2 | 2 | 2000 | 3.7 M | ₹68 - ₹70 | 66.85 % | ₹251.5 M - ₹258.9 M | RHP DOC |
TSC IPO SUBSCRIPTION STATUS
25 Jul '25TSC IPO overall subscription rate was 68.28 times the total available shares
TSC IPO retail subscription rate was 88.6 times in the retail segment
TSC IPO non-institutional investor subscription rate was 177.52 times in the non-institutional investor category
TSC IPO Qualified Institutional Bidder subscription rate was 21.29 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
25 Jul 2025 (Day 3) | 88.6x | 177.52x | 21.29x |
24 Jul 2025 (Day 2) | 2.74x | 2.82x | 0.54x |
23 Jul 2025 (Day 1) | 1.06x | 0.59x | 0.54x |
TSC FINANCIALS
| Period | Net Profit (Rs in crore) | Revenue from Operations (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY25 | 4.9 | 25.8 | -13.5 | -13.7 | 34.0% |
| FY24 | 4.7 | 19.4 | -0.2 | -0.6 | 42.3% |
| FY23 | 1.2 | 9.4 | -1.2 | -3.7 | 30.0% |
TSC IPO SUBSCRIPTION STATUS DETAILS
TSC had 3.7 M shares on offer
TSC IPO offer price was in the range ₹68 - ₹70
TSC IPO minimum Investment was ₹272000
TSC IPO issue size was ₹ 251.5 M - ₹ 258.9 M
TSC had a minimum lot size of 2000 Shares per application
TSC NUMBER OF SHARES ON OFFER
TSC IPO IMPORTANT DATES
| Issue Open Date | 23 Jul 2025 |
| Issue close Date | 25 Jul 2025 |
| Allotment Date | 28 Jul 2025 |
| Refund Date | 29 Jul 2025 |
| Demat Account Credit Date | 29 Jul 2025 |
| Listing Date | 30 Jul 2025 |
| Listing on Exchange(s) | NSE |
| TSC Allotment Status | Exchange/ Registrar |
TSC IPO subscription opened on 23 Jul 2025, and closed on 25 Jul 2025
IPO allotment for TSC was finalized on Monday, 28 Jul 2025
IPO listing for TSC was on NSE on Wednesday, 30 Jul 2025
TSC IPO LISTING GAINS
| Issue Price (adjusted) | 70.0 |
| Listing Open Price | 68.0 |
| Listing Close Price | 71.4 |
| Listing Gain% | -2.9% |
| Current Gain% | -34.5% |
TSC Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| TSC India Ltd. | 45.8 | 64.4 | 15.2 | -2.1 | 2.2 | 9.8 | 4.5 | 29.6 | 12.1 | 4.4 | -4.1 | 3 | -7.2 |
| Indian Railway Catering & Tourism Corporation Ltd. | 524.8 | 41980 | 30.1 | 5 | 8.1 | 32.3 | 18.4 | 5475.2 | 11.7 | 1393.5 | 6 | 17.4 | 6 |
| TBO Tek Ltd. | 1612.9 | 17514.1 | 66.2 | 4.7 | 5.7 | 15.8 | 2.6 | 2728.7 | 51.7 | 244.3 | 6.3 | 24.4 | 14.1 |
| BLS International Services Ltd. | 260.1 | 10710.2 | 15.2 | 0.6 | 3.4 | 27.9 | 18.2 | 3093.4 | 36 | 686.7 | 35.1 | 17.1 | 24.9 |
| LE Travenues Technology Ltd. | 180.2 | 7947.2 | 92.9 | 2.8 | 6.3 | 3.5 | 2.8 | 1275.3 | 36.8 | 72.1 | 19.9 | 1.9 | 32.8 |
| Thomas Cook (India) Ltd. | 106.2 | 4995.5 | 22.8 | -1.8 | 0.6 | 8.6 | 2.8 | 8557.8 | 3.3 | 218.8 | -14 | 4.6 | -12.9 |
TSC INFORMATION ON IPO ISSUE
About TSC
TSC India was incorporated on July 18, 2003. The company is a travel management firm specializing in air ticketing services for B2B and corporate clients. It partners with airlines and agents to offer cost-effective, streamlined travel solutions
Object of the Issue
- Funding working capital requirement of the company
- General corporate purposes
TSC - PROMOTERS
| Name |
|---|
| Ashish Kumar Mittal |
| Puja Mittal |
| Vinay Gupta |
TSC Book Running Lead Manager
Expert Global Consultants Private Limited
ipo@expertglobal.in
TSC Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
TSC Strengths
Streamlined accounting
The company provides automated accounting solutions for travel partners, featuring real-time tracking, invoice generation, and financial reporting. These tools reduce manual work and enhance transparency and accuracy in financial management
Real-time information
The platform offers real-time updates on flights, hotels, and travel services, enabling timely decisions and smoother service delivery. This improves partner efficiency and boosts client confidence
Extensive travel inventory
The platform offers a broad range of travel services like flights, hotels, and car rentals, helping partners meet varied client needs. This enhances their ability to deliver customized travel solutions and stay competitive
TSC Risks
Depend on tourism sector
The company’s revenue depends on the global travel and tourism sector, which is highly influenced by economic, geopolitical, and environmental factors. Any disruptions in these areas can significantly impact business performance
Customer satisfaction
The company's success in attracting and retaining buyers depends on offering a seamless and innovative booking experience, with real-time information and personalized content. Adopting emerging technologies and alternative payment options is also key to improving user engagement
Brand image
The company’s strong and trustworthy brand is crucial for attracting and retaining buyers in the competitive travel management industry. Any negative publicity, service issues, or unmet expectations could adversely impact its brand reputation and business
IPO FAQs
The promoters of the company are Ashish Kumar Mittal, Puja Mittal and Vinay Gupta.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 68.0 - 70.0.
The IPO application opens on Jul 23, 2025 and closes on Jul 25, 2025.
The minimum lot size for the IPO is 4000. The maximum lot size for the IPO is 4000.
For all category investors, the minimum application amount for this IPO is Rs. 272,000.0, the maximum value for this IPO is Rs 280,000.0.
This IPO will be allotted on Jul 28, 2025.
The refund will be credited to your account on Jul 29, 2025.
The allotted shares will be credited to your demat on Jul 29, 2025.
TSC India Ltd.’s shares listed on the stock exchanges on Jul 30, 2025.