TSC India IPO
Live Updates, GMP, Subscription Data, and Financial Details
IPO Overview
Listed
Dates
Jul 23 to Jul 25 2025
Price Band
₹70
Current GMP
₹68(2.76%)
Subscription
73.21 times
IPO Details
| IPO Date | July 23, 2025 to July 25, 2025 |
| Listing Date | July 30, 2025 |
| Face Value | ₹10 per share |
| Issue Price | ₹70 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 36,98,000 shares (aggregating up to ₹25.89 Cr) |
| Reserved for Market Maker | 1,86,000 shares (aggregating up to ₹1.30 Cr)Prabhat Financial Services Ltd. |
| Net Offered to Public | 35,12,000 shares (aggregating up to ₹24.58 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,03,50,000 shares |
| Share Holding Post Issue | 1,40,48,000 shares |
IPO Date
July 23, 2025 to July 25, 2025
Listing Date
July 30, 2025
Face Value
₹10 per share
Issue Price
₹70 per share
Lot Size
2,000 Shares
Sale Type
Fresh Capital
Total Issue Size
36,98,000 shares (aggregating up to ₹25.89 Cr)
Reserved for Market Maker
1,86,000 shares (aggregating up to ₹1.30 Cr)Prabhat Financial Services Ltd.
Net Offered to Public
35,12,000 shares (aggregating up to ₹24.58 Cr)
Issue Type
Bookbuilding IPO
Listing At
NSE SME
Share Holding Pre Issue
1,03,50,000 shares
Share Holding Post Issue
1,40,48,000 shares
IPO Subscription Details
| Anchor Investors | 1 |
| Market Maker | 1 |
| Qualified Institutions | 40.03 |
| Non-Institutional Buyers*** | 133.17 |
| Individual Investors (IND category bidding for 2 Lots) | 66.47 |
| Total ** | 73.21 |
Anchor Investors
1
Market Maker
1
Qualified Institutions
40.03
Non-Institutional Buyers***
133.17
Individual Investors (IND category bidding for 2 Lots)
66.47
Total **
73.21
Day Wise Sub
| Day | QIB | NII* | Individual Investors | Total |
|---|---|---|---|---|
| Day 1 Jul 23, 2025 | 1.01 | 0.44 | 0.81 | 0.79 |
| Day 2 Jul 24, 2025 | 1.01 | 1.77 | 2.10 | 1.72 |
| Day 3 Jul 25, 2025 | 40.03 | 133.17 | 66.47 | 73.21 |
DayDay 1
Jul 23, 2025
QIB1.01
NII*0.44
Individual Investors0.81
Total0.79
DayDay 2
Jul 24, 2025
QIB1.01
NII*1.77
Individual Investors2.10
Total1.72
DayDay 3
Jul 25, 2025
QIB40.03
NII*133.17
Individual Investors66.47
Total73.21
Day Wise GMP
| Date | Price | GMP | Estimate List Price |
|---|---|---|---|
| 30-07-2025 | 70.00 | 10(14.29%) | 80 |
| 29-07-2025 | 70.00 | 8(11.43%) | 78 |
| 28-07-2025 | 70.00 | 12(17.14%) | 82 |
| 27-07-2025 | 70.00 | 12(17.14%) | 82 |
| 26-07-2025 | 70.00 | 12(17.14%) | 82 |
| 25-07-2025 | 70.00 | 12(17.14%) | 82 |
| 24-07-2025 | 70.00 | 0(0.00%) | 70 |
| 23-07-2025 | 70.00 | 0(0.00%) | 70 |
| 22-07-2025 | 70.00 | 0(0.00%) | 70 |
| 21-07-2025 | 70.00 | 0(0.00%) | (0.00%) |
| 20-07-2025 | 70.00 | 0(0.00%) | (0.00%) |
| 19-07-2025 | 70.00 | 0(0.00%) | (0.00%) |
| 18-07-2025 | 70.00 | 0(0.00%) | (0.00%) |
| 17-07-2025 | 70.00 | 0(%) | (%) |
Date30-07-2025
Price70.00
GMP10(14.29%)
Estimate List Price80
Date29-07-2025
Price70.00
GMP8(11.43%)
Estimate List Price78
Date28-07-2025
Price70.00
GMP12(17.14%)
Estimate List Price82
Date27-07-2025
Price70.00
GMP12(17.14%)
Estimate List Price82
Date26-07-2025
Price70.00
GMP12(17.14%)
Estimate List Price82
Date25-07-2025
Price70.00
GMP12(17.14%)
Estimate List Price82
Date24-07-2025
Price70.00
GMP0(0.00%)
Estimate List Price70
Date23-07-2025
Price70.00
GMP0(0.00%)
Estimate List Price70
Date22-07-2025
Price70.00
GMP0(0.00%)
Estimate List Price70
Date21-07-2025
Price70.00
GMP0(0.00%)
Estimate List Price(0.00%)
Date20-07-2025
Price70.00
GMP0(0.00%)
Estimate List Price(0.00%)
Date19-07-2025
Price70.00
GMP0(0.00%)
Estimate List Price(0.00%)
Date18-07-2025
Price70.00
GMP0(0.00%)
Estimate List Price(0.00%)
Date17-07-2025
Price70.00
GMP0(%)
Estimate List Price(%)
IPO Important Dates
| IPO Open Date | Wed, Jul 23, 2025 |
| IPO Close Date | Fri, Jul 25, 2025 |
| Tentative Allotment | Mon, Jul 28, 2025 |
| Initiation of Refunds | Tue, Jul 29, 2025 |
| Credit of Shares to Demat | Tue, Jul 29, 2025 |
| Tentative Listing Date | Wed, Jul 30, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 25, 2025 |
IPO Open Date
Wed, Jul 23, 2025
IPO Close Date
Fri, Jul 25, 2025
Tentative Allotment
Mon, Jul 28, 2025
Initiation of Refunds
Tue, Jul 29, 2025
Credit of Shares to Demat
Tue, Jul 29, 2025
Tentative Listing Date
Wed, Jul 30, 2025
Cut-off time for UPI mandate confirmation
5 PM on July 25, 2025
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 4,000 | ₹2,80,000 |
| 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 |
ApplicationIndividual investors (Retail) (Min)
Lots2
Shares4,000
Amount₹2,80,000
ApplicationIndividual investors (Retail) (Max)
Lots2
Shares4,000
Amount₹2,80,000
ApplicationS-HNI (Min)
Lots3
Shares6,000
Amount₹4,20,000
ApplicationS-HNI (Max)
Lots7
Shares14,000
Amount₹9,80,000
ApplicationB-HNI (Min)
Lots8
Shares16,000
Amount₹11,20,000
Financial Information
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 61.45 | 53.33 | 26.16 |
| Revenue | 26.32 | 20.59 | 9.85 |
| Profit After Tax | 4.93 | 4.72 | 1.22 |
| EBITDA | 8.75 | 8.19 | 2.82 |
| Net Worth | 15.83 | 8.74 | 4.56 |
| Reserves and Surplus | 5.48 | 6.82 | 2.64 |
| Total Borrowing | 25.53 | 17.76 | 13.08 |
Period EndedPeriod Ended
31 Mar 202531 Mar 2025
31 Mar 202431 Mar 2024
31 Mar 202331 Mar 2023
Period EndedAssets
31 Mar 202561.45
31 Mar 202453.33
31 Mar 202326.16
Period EndedRevenue
31 Mar 202526.32
31 Mar 202420.59
31 Mar 20239.85
Period EndedProfit After Tax
31 Mar 20254.93
31 Mar 20244.72
31 Mar 20231.22
Period EndedEBITDA
31 Mar 20258.75
31 Mar 20248.19
31 Mar 20232.82
Period EndedNet Worth
31 Mar 202515.83
31 Mar 20248.74
31 Mar 20234.56
Period EndedReserves and Surplus
31 Mar 20255.48
31 Mar 20246.82
31 Mar 20232.64
Period EndedTotal Borrowing
31 Mar 202525.53
31 Mar 202417.76
31 Mar 202313.08
Peers Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | RoNW (%) | P/BV Ratio |
|---|---|---|---|---|---|
| TSC India Ltd. | 5.07 | 5.07 | 15.29 | 31.13 | 4.67 |
Company NameTSC India Ltd.
EPS (Basic)5.07
EPS (Diluted)5.07
NAV (per share) (Rs)15.29
RoNW (%)31.13
P/BV Ratio4.67
IPO Reservation
| Market Maker Shares Offered | 1,86,000 (5.03%) |
| QIB Shares Offered | 17,52,000 (47.38%) |
| − Anchor Investor Shares Offered | 10,50,000 (28.39%) |
| − QIB (Ex. Anchor) Shares Offered | 7,02,000 (18.98%) |
| NII (HNI) Shares Offered | 5,28,000 (14.28%) |
| − bNII > ₹10L | 3,52,000 (9.52%) |
| − sNII < ₹10L | 1,76,000 (4.76%) |
| Retail Shares Offered | 12,32,000 (33.32%) |
| Total Shares Offered | 36,98,000 (100.00%) |
Market Maker Shares Offered
1,86,000 (5.03%)
QIB Shares Offered
17,52,000 (47.38%)
− Anchor Investor Shares Offered
10,50,000 (28.39%)
− QIB (Ex. Anchor) Shares Offered
7,02,000 (18.98%)
NII (HNI) Shares Offered
5,28,000 (14.28%)
− bNII > ₹10L
3,52,000 (9.52%)
− sNII < ₹10L
1,76,000 (4.76%)
Retail Shares Offered
12,32,000 (33.32%)
Total Shares Offered
36,98,000 (100.00%)
Information about company
Incorporated in 2003, TSC India Limited is a travel management company specializing in comprehensive air ticketing services for its clients. Focused on B2B and corporate sectors, TSC collaborates with airlines and travel agents to provide cost-effective travel solutions.
TSC partners with various travel providers to manage travel planning, including booking flights and organizing corporate itineraries. Operating in cities like Jalandhar, Chandigarh, Lucknow, Ahmedabad, Jaipur, New Delhi, and Pune, it reflects its expanding presence in India.
The company has a diverse client base, including travel agencies, corporations, and tour operators.
The company manages over 420 bookings daily, 3,000 weekly, and 12,000 monthly, demonstrating operational efficiency. By June 30, 2024, it registered over 2,100 customers, highlighting its strong B2B travel market presence.
The company offers the following services:-
Booking Management: Streamlined processes enable accurate air travel reservations.
Analytical Reporting Systems: Data-driven insights help customers analyze travel patterns and optimize strategies.
Cost-Effective Solutions: Competitive pricing ensures clients get quality travel solutions at optimal rates.
Consulting and Negotiation Expertise: Consulting services help navigate travel requirements and secure favourable terms.
24/7 Emergency Support: 24/7 assistance is available at no extra cost, providing immediate support during emergency disruptions.
Transparent Practices: Transparent communication about pricing and policies builds client trust.
Integrated One-Stop Solutions: One platform simplifies management and offers travel info and services.
Customer-Focused Service: Experienced professionals efficiently meet client needs and strongly commit to customer service satisfaction.
As of September 30, 2024, the company employed 77 people across various departments, including Administration, Finance, HR, Projects, Procurement, R&D, Sales, Operations, and Design.
Competitive Strength:
Automated accounting solutions designed to simplify financial management.
Offers real-time updates on flights and hotels.
Support is provided throughout the booking process, from inquiries to confirmations.
Instant Booking and Confirmation.
The platform offers diverse travel services like flights, accommodations, and car rentals.
Quick and reliable booking confirmations to reduce uncertainties and delays.
Platform integrates with Global Distribution Systems (GDS) to access various travel services and competitive rates.
Objectives of IPO
The Company TSC India IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
S.No.
Objects of the Issue
Expected Amount (in Millions)
1
Working Capital Requirements of the Company
220
2
General Corporate Purposes
3
Issue Expenses
Disclaimer
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