Bookbuilding IPO | ₹26 Cr | Listed at NSE SME | Wed, Jul 23, 2025 - Fri, Jul 25, 2025
TSC India IPO is a book build issue of ₹25.89 crores. The issue is entirely a fresh issue of 0.37 crore shares of ₹25.89 crore.
TSC India IPO bidding started from Jul 23, 2025 and ended on Jul 25, 2025. The allotment for TSC India IPO was finalized on Jul 28, 2025. The shares got listed on NSE SME on Jul 30, 2025.
TSC India IPO price band is set at ₹70 per share. The lot size for an application is 2,000. The minimum amount of investment required by an individual investor (retail) is ₹2,80,000 (4,000 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (6,000 shares), amounting to ₹4,20,000.
Expert Global Consultants Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Prabhat Financial Services Ltd..
Refer to TSC India IPO RHP for detailed Information.
IPO Open
Wed, Jul 23, 2025
IPO Close
Fri, Jul 25, 2025
Issue Price
₹70 per share
Market Cap (Pre-IPO)
₹98.34 Cr
| IPO Date | 23 to 25 Jul, 2025 |
| Listed on | Wed, Jul 30, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹68 to ₹70 |
| Issue Price | ₹70 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 36,98,000 shares (agg. up to ₹26 Cr) |
| Reserved for Market Maker | 1,86,000 shares Prabhat Financial Services Ltd. (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 35,12,000 shares (agg. up to ₹25 Cr) |
| Net Offered to Public | 35,12,000 shares (agg. up to ₹25 Cr) |
| Share Holding Pre Issue | 1,03,50,000 shares |
| Share Holding Post Issue | 1,40,48,000 shares |
| NSE Symbol | TSC |
| ISIN | INE16VK01010 |
TSC India IPO comprises a total issue size of 36,98,000 shares. The net offer to the public is 35,12,000 shares, after excluding 1,86,000 shares allotted on a firm basis. Of the Net offer 17,52,000 (49.89%) are allocated to QIB, 5,28,000 (15.03%) allocated to NII 12,32,000 (35.08%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 17,52,000 | 49.89% | 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 | 15.03% | 14.28% |
| − bNII > ₹10L | 3,52,000 | 9.52% | |
| − sNII < ₹10L | 1,76,000 | 4.76% | |
| Retail Shares Offered | 12,32,000 | 35.08% | 33.32% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,86,000 | 5.03% | |
| Total Shares Offered | 36,98,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 4,000 shares and in multiples of 2,000 shares thereof.
| 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 |
TSC India IPO raises ₹7.35 crore from anchor investors. TSC India IPO Anchor bid date is July 22, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Jul 22, 2025 |
| Shares Offered | 10,50,000 |
| Anchor Portion (₹ Cr.) | 7.35 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Aug 27, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Oct 26, 2025 |
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:-
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:
TSC India Ltd.'s revenue increased by 28% and profit after tax (PAT) rose by 4% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 61.45 | 53.33 | 26.16 |
| Total Income | 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 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Working Capital Requirements of the Company | 22.00 |
| 2 | General Corporate Purposes | 1.14 |
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 31.13% |
| ROCE | 19.49% |
| RoNW | 31.13% |
| PAT Margin | 19.11% |
| EBITDA Margin | 33.96% |
| Price to Book Value | 1.55 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 4.53 | 3.85 |
| P/E (x) | 15.44 | 18.17 |
| Promoter Holding | 90.74% | 66.85% |
| Market Cap | ₹98.34 Cr. |
The TSC India IPO is subscribed 73.21 times on July 25, 2025 6:20:00 PM (Day 3). The public issue subscribed 66.47 times in the individual investors category, 40.03 times in the QIB category, and 133.17 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| QIB | 40.03 | 7,04,000 | 2,81,82,000 | 18 |
| NII* | 133.17 | 5,28,000 | 7,03,12,000 | 5,602 |
| Individual Investors | 66.47 | 12,30,000 | 8,17,60,000 | 20,440 |
| Total | 73.21 | 24,62,000 | 18,02,54,000 | 26,060 |
Total Application : 26,060
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs’ fees and commissions (including underwriting commission) | 1.54 |
| 2 | Processing fee for SCSBs, Sponsor Bank and Bankers to the Issue. Brokerage, and selling commission and bidding/uploading charges for members of the Syndicate, Registered Brokers, RTAs and CDPs | 0.03 |
| 3 | Fees payable to the Registrar to the Issue | 0.02 |
| 4 | Fees payable to the other advisors to the Issue | 0.00 |
| 5 | Listing fees, Stock Exchanges processing fees, book building software fees and other regulatory expenses | 0.06 |
| 6 | Printing and stationery expenses | 0.02 |
| 7 | Advertising and marketing expenses | 0.88 |
| 8 | Fees payable to legal counsel | 0.02 |
| 9 | Miscellaneous | 0.17 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹70.00 |
| Open | ₹68.00 |
| Low | ₹64.60 |
| High | ₹71.40 |
| Last Trade | ₹71.40 |
Lead Manager Reports
TSC India IPO is a SME IPO of 36,98,000 equity shares of the face value of ₹10 aggregating up to ₹26 Crores. The issue is priced at ₹70 per share. The minimum order quantity is 2000.
The IPO opens on Wed, Jul 23, 2025, and closes on Fri, Jul 25, 2025.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in TSC India IPO using UPI as a payment gateway. Zerodha customers can apply in TSC India IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in TSC India IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The TSC India IPO opens on Wed, Jul 23, 2025 and closes on Fri, Jul 25, 2025.
TSC India IPO lot size is 2000, and the minimum amount required for application is ₹2,80,000, with 2 lots being the minimum application size.
You can apply in TSC India IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for TSC India IPO will be done on Monday, July 28, 2025, and the allotted shares will be credited to your demat account by Tue, Jul 29, 2025. Check the TSC India IPO allotment status.
The TSC India IPO listing date is on Wed, Jul 30, 2025.
