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TSC India Ltd IPO

TSC India Limited (TSC) is a travel management company focused on serving the B2B and corporate sectors. The company specializes in providing comprehensive air ticketing services tailored to the requirements of its business clients. TSC works in close collaboration with airlines and travel agents to deliver cost-effective and streamlined travel solutions.

TSC India Ltd IPO Details

Total Shares Offered

₹ 36,98,000

Offer to Public

TBA

Retail Max (Shares)

₹ 12,30,000

Pre Issue Promoters Holding

₹ 93,91,250

Exchange

NSE

Issue size

₹ 25.89 Cr

IPO Open Date

Jul 23, 2025

Close Date

Jul 25, 2025

Lot Size

4000

Min Investment

₹ 2,72,000

Issue Type

Book Building - SME

Listing Date

Jul 30, 2025

TSC India Ltd IPO Dates

Jul 23, 2025

Opening date

Jul 25, 2025

Closing date

Jul 28, 2025

Basis of Allotment

Jul 29, 2025

Initiation of Refunds

Jul 29, 2025

Credit of Shares

Jul 30, 2025

Listing date

Details

Sector	Type
Sector	Travel Agencies
Sub Sector	NA
Issue Type	Book Building - SME

Subscription Status

*Values are in Lakhs

Investor Type	Subscription Times	Shares Offered*	Shares Bid*
QIB	16.07x	1754000	28182000
NII	133.54x	528000	70510000
Retail	66.76x	1230000	82112000
Employee	0x	0	0
Total	48.89x	3698000	180804000

Investor Type

QIB

NII

Retail

Employee

Total

Subscription Times

16.07x

133.54x

66.76x

48.89x

1754000

528000

1230000

3698000

28182000

70510000

82112000

180804000

TSC India Ltd Financial Status

Income Statement

Particulars (In Rs. Crores)

Balance Sheet

Particulars (In Rs. Crores)

Particulars (in Rs. Crores)	FY23	FY22	FY21
Revenue from operations	25.78	6.07	TBA
EBITDA	7.38	7.01	TBA
PAT	4.53	3.88	TBA
Total Assets	36.94	38.26	TBA
Share Capital	10.35	1.92	TBA
Total Borrowings	19.49	16.77	TBA
Operating Activities (Net Cash)	5.15	4.82	TBA
Investing Activities (Net Cash)	1.60	0.80	TBA
Financing Activities (Net Cash)	19.49	16.77	TBA
Net Cashflow	0.96	5.62	TBA

About TSC India Ltd

TSC India Limited was originally incorporated as `TSC Travel Services Private Limited' on July 18, 2003 vide Registration no. 026209 (CIN: U63040PB2003PTC026209) under the provisions of the Companies Act, 1956 with the Registrar of Companies, Punjab, H.P. & Chandigarh. Further, the Company was converted into a public limited company pursuant to shareholders resolution passed at the extra-ordinary general meeting of the Company held on June 06, 2024 and the name of the Company was changed to TSC Travel Services Limited and a Fresh Certificate of Incorporation dated August 01, 2024 bearing CIN U63040PB2003PLC026209 issued by the Registrar of Companies, Central Processing Centre. Subsequently, the name of the Company has been changed to TSC India Limited pursuant to the special resolution passed by the Shareholders of our Company at the Extra-Ordinary General Meeting held on August 12, 2024 and Central Processing Centre issued a fresh certificate of incorporation dated September 02, 2024 upon change of the name of the Company. Currently, the Corporate Identification Number of the Company is U63040PB2003PLC026209.

The global economy, which grew by 3.3% in 2023, is expected to record a sluggish growth of 3.2% in 2024 before rising modestly to 3.3% in 2025. In 2021-2022, global banks were carrying a historically high debt burden after COVID-19. Central banks took tight monetary measures to control inflation and spike in commodity prices. Russia's war with Ukraine further affected the global supply chains and inflated the prices of energy and other food items. These factors coupled with war-related economic sanctions impacted the economic activities in Europe. Any further escalation in the war may further affect the rebound of the economy in Europe. In 2023, the travel and tourism sector contributed approximately USD 9.9 trillion to global GDP, representing around 9.1% of the global economy. This marks a recovery from the pandemic but remains about 4% below the pre-pandemic contribution of 10.4% in 2019. The World Travel & Tourism Council (WTTC) projects that by 2024, the sector's contribution will reach a record USD11.1 trillion, reflecting a significant 21% increase from 2019 levels. This growth underscores the sector's resilience and its critical role in the global economy, driven by factors such as the release of pent-up travel demand, increased international connectivity, and supportive government policies.

Peer Comparison:

No Listed Industry Peers

TSC India Ltd Key Points

Strengths

Experienced Promoters having deep domain knowledge to scale up the business.

Strong relationship with suppliers and diversified clientele with over 2996 registered customers till March 31, 2025.

Management team having established track records.

Established track record of successfully selling over 3,30,000 tickets over three financial years.

Efficient business model with track record of delivering financial growth.

Risk

The Company operations requires significant amount of working capital for a continuing growth. Its inability to meet its working capital requirements may adversely affect the company results of operations.

Its business is significantly dependent on the global travel and tourism industry, and adverse developments in this industry could materially affect the company operations, financial performance, and growth prospects.

Its offices, including the company Registered Office and Branch Offices, are located on leased premises, and any disruption in these lease arrangements could adversely affect its business, operations, and financial performance.

Strategy

Implement Competitive Pricing Strategies.

Engage Actively with Clients via Social and Digital Media.

Continuously Introduce Value- Added Add-Ons.

Create a Niche Market for the Business.

Enhance Client- Employee Interaction to be User-Friendly.

How To Apply for TSC India Ltd IPO Online?

Step 1:

Step 2:

From the list of open IPOs, select the IPO you want to invest.

Step 3:

Go through the IPO details like lot size, price band, about the company, etc.

Step 4:

Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.

Step 5:

Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.

FAQs on IPO (Initial Public Offering)

What is the issue size of the TSC India Ltd IPO?

TSC India Ltd's IPO offers shares for up to 25.89 It begins on Jul 23, 2025 and ends on Jul 25, 2025.

What is the price of the TSC India Ltd IPO?

The price of TSC India Ltd IPO ranges between ₹68 to ₹70 per share.

What are the open and close dates for the TSC India Ltd IPO?

The TSC India Ltd IPO opens on Jul 23, 2025 and closes on Jul 25, 2025.

When will the TSC India Ltd IPO be allotted?

The allotment for the TSC India Ltd IPO will be finalised on Jul 28, 2025. The shares will be listed on BSE and NSE on Jul 30, 2025.

What is the minimum lot size required for TSC India Ltd IPO?

The minimum lot size for TSC India Ltd IPO is 4000 shares, priced between ₹68 to ₹70 per share.

What is the GMP of TSC India Ltd IPO?

The GMP (Grey Market Premium) of TSC India Ltd IPO fluctuates based on market demand and sentiment.

How do you check the allotment status of TSC India Ltd IPO?

To check the allotment status of TSC India Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

Where is the TSC India Ltd IPO getting listed?

The TSC India Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Jul 23, 2025, and closes on Jul 25, 2025. The allotment is finalised on Jul 28, 2025.

How do you apply for the TSC India Ltd IPO?

To apply for the TSC India Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.