TSC India SME IPO
ListedNSE SMEOpens 23 July 2025Closes 25 July 2025
TSC India Limited, founded in 2003, is a travel management company specializing in comprehensive air ticketing services for its clients. The company primarily operates on a Business-to-Business (B2B) and corporate…
TSC India Limited, founded in 2003, is a travel management company specializing in comprehensive air ticketing services for its clients. The company primarily operates on a Business-to-Business (B2B) and corporate model, collaborating closely with airlines and travel agents to provide cost-effective travel solutions. Its key service offerings include travel planning, air ticket booking (domestic and international), organizing corporate travel itineraries, booking management, analytical reporting systems, cost-effective solutions, consulting and negotiation expertise, 24/7 emergency support, transparent practices, and integrated one-stop solutions.
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Key ratios
As per RHP / filingsTimeline
IPO Opens
23 Jul 2025
IPO Closes
25 Jul 2025
Allotment
28 Jul 2025
Listing
30 Jul 2025
IPO Timeline & Listing Details
| Event | Date |
|---|---|
| IPO Open Date | 23 July 2025 |
| IPO Close Date | 25 July 2025 |
| Allotment Date | 28 July 2025 |
| Listing Date | 30 July 2025 |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Individual | 2 | ₹2,80,000 |
SHNI (Min) | 3 | ₹4,20,000 |
SHNI (Max) | 7 | ₹9,80,000 |
BHNIAbove ₹10,00,000 | 8 | ₹11,20,000 |
IPO Objectives
- Working Capital Requirements of the Company.
- General Corporate Purposes.
- Issue Expenses.
Strengths
- Comprehensive air ticketing services with end-to-end booking support, including domestic and international flights, corporate itineraries, and analytical reporting.
- Real-Time Information and Instant Booking: Provides real-time updates on flights and travel services, enabling instant booking and confirmation, which streamlines workflows and enhances customer satisfaction.
- Extensive travel inventory and access to a wide network of domestic and international flights through collaborations with airlines and Global Distribution Systems (GDS).
- Guaranteed Booking Confirmation, ensuring reliability and trustworthiness for B2B and corporate clients.
- Experienced promoter and management team with over 20 years of experience in the travel industry, possessing valuable insights and expertise.
Weaknesses
- Relatively slow growth in profit after tax (4% between FY24 and FY25) despite significant revenue growth, suggesting potential margin pressures or increased operational costs.
- High debt-to-equity ratio of 1.61 (FY25) and increasing total borrowings (₹25.53 crore in FY25), which may lead to higher interest costs and impact profitability.
- Working capital intensive business, as evidenced by a substantial portion of IPO proceeds allocated to working capital, indicating ongoing needs for funding operations.
- High reliance on third-party web hosting providers; any disruption or technical issues on their part could adversely affect platform performance and business operations.
- Heavy reliance on a limited number of airlines and travel agents for competitive fares and travel solutions, which could impact offerings if relationships deteriorate or terms change.
Financial Performance
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets (₹ Cr.) | 61.45 | 53.33 | 26.16 |
| Revenue (₹ Cr.) | 26.32 | 20.59 | 9.85 |
| PAT (₹ Cr.) | 4.93 | 4.72 | 1.22 |
| Net Worth (₹ Cr.) | 15.83 | 8.74 | 4.56 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|
Subscription Details
Daily Bids Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 1.01x | 1.01x | 40.03x |
| NII | 0.44x | 1.77x | 133.17x |
| RII | 0.81x | 2.1x | 66.47x |
| Total | 0.79x | 1.72x | 73.21x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 7,04,000 | 2,81,82,000 | 197.27 |
| NII | 5,28,000 | 7,03,12,000 | 492.18 |
| RII | 12,30,000 | 8,17,56,000 | 572.29 |
| Total | 24,62,000 | 18,02,50,000 | 1,261.75 |
Company Details
- TSC India Ltd.
- Office No. 3, 2nd Floor, Midland Financial Centre, Plot No. 21-22, G.T. Road, Jalandhar, Punjab-144001
- +91-181-4288888
- cs@tscpl.biz
- https://www.tscindialimited.com/
Registrar Details
- Bigshare Services Pvt Ltd
- +91-22-6263 8200
- ipo@bigshareonline.com
- https://ipo.bigshareonline.com/IPO_Status.html
Frequently Asked Questions
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Sources
We match TSC India SME IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.
- SEBIRules for IPO allotment and disclosures in India
- NSEExchange notices, bidding data, and listing updates
- BSEExchange notices and IPO allotment check tools
- RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
- Bigshare Services Pvt LtdOfficial site to check allotment status for this IPO
Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.
Reviewed by
Dinesh Agrawal · Lead IPO Analyst
15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.