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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 ₹70.00 per share . The lot size for an application is 2,000. The minimum amount of investment required by an individual investor (retail) is ₹2,72,000.00 (4,000 shares). The minimum lot size investment for 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 Date | July 23, 2025 to July 25, 2025 |
| Listing Date | July 30, 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹68 to ₹70 per share |
| Issue Price Final | ₹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 Prabhat Financial Services Ltd. (aggregating up to ₹1.30 Cr) |
| 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 |
TSC India IPO offers total 36,98,000 shares. Out of which 17,52,000 (47.38%) allocated to QIB, 7,02,000 (18.98%) allocated to QIB (Ex- Anchor), 5,28,000 (14.28%) allocated to NII, 12,32,000 (33.32%) allocated to RII and 10,50,000 (28.39%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| 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%) |
TSC India IPO raises ₹7.35 crore from anchor investors. TSC India IPO Anchor bid date is July 22, 2025. TSC India IPO Anchor Investors list
| Bid Date | July 22, 2025 |
| Shares Offered | 10,50,000 |
| Anchor Portion Size (In Cr.) | 7.35 |
| Anchor lock-in period end date for 50% shares (30 Days) | August 27, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | October 26, 2025 |
TSC India IPO opens on July 23, 2025, and closes 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 Fri, Jul 25, 2025 |
Investors can bid for a minimum of 4,000 shares and in multiples of 2,000 shares thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 4,000 | ₹2,80,000 |
| Individual investors (Retail) (Min) | 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 market capitalization of TSC India IPO is ₹98.34 Cr.
KPI as of Mon, Mar 31, 2025.
| KPI | Values |
|---|---|
| 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 Rs | 4.53 | 3.85 |
| P/E (x) | 15.44 | 18.17 |
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 crores) |
|---|---|---|
| 1 | Working Capital Requirements of the Company | 22.00 |
| 2 | General Corporate Purposes | 1.14 |
[Dilip Davda] TIL is engaged in providing comprehensive air ticketing services on B2B business model. It posted growth in its top and bottom lines for reported periods. Based on its recent financial data, the issue appears fully priced. It is operating in a highly competitive and fragmented segment, raising concern over its margin’s sustainability. Almost static bottom lines for FY24 and FY25 raise concern. Well-informed investors may park moderate funds for medium term. Read detail review...
| Listing Date | July 30, 2025 |
| BSE Script Code | |
| NSE Symbol | TSC |
| ISIN | INE16VK01010 |
| Final Issue Price | ₹70 per share |
| NSE Listing Group | ST |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹70.00 |
| Open | ₹68.00 |
| Low | ₹64.60 |
| High | ₹71.40 |
| Last Trade | ₹71.40 |
TSC India Ltd.
Office No. 3, 2nd Floor
Midland Financial Centre, Plot No. 21-22,
G.T. Road,
Jalandhar, Punjab, 144001
Phone: +91-181-4288888
Email: cs@tscpl.biz
Website: https://www.tscindialimited.com/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
TSC India IPO is a SME IPO of 36,98,000 equity shares of the face value of ₹10 aggregating up to ₹25.89 Crores. The issue is priced at ₹70 per share. The minimum order quantity is 2000.
The IPO opens on July 23, 2025, and closes on July 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 July 23, 2025 and closes on July 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 Tuesday, July 29, 2025. Check the TSC India IPO allotment status.
The TSC India IPO listing date is on Wednesday, July 30, 2025.
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