Schedule of Travels & Rentals
| Issue open date | 29 Aug 2024 |
| Issue close date | 02 Sep 2024 |
| UPI mandate deadline | 02 Sep 2024 (5 PM) |
| Allotment finalization | 03 Sep 2024 |
| Refund initiation | 04 Sep 2024 |
| Share credit | 04 Sep 2024 |
| Listing date | 05 Sep 2024 |
| Mandate end date | 17 Sep 2024 |
| Lock-in end date for anchor investors (50%) | 03 Oct 2024 |
| Lock-in end date for anchor investors (remaining) | 02 Dec 2024 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Travels & Rentals
Incorporated in 1996, Travels & Rentals offers a comprehensive range of travel-related products and services for end-to-end travel solutions, including airline tickets, hotels and tour packages, rail tickets as well as ancillary value-added services such as travel insurance, passport & visa processing, and tickets for activities and attractions and is accredited by IATA (International Air Transport Association, Geneva, Switzerland), recognized by Ministry of Tourism, Government of India, member of TAAI (Travel Agent Association of India) and member of IATO (Indian Association of Tour Operators) and has a strong network of travel agents across Europe, Australia, Africa, the USA, South and Southeast Asia and the Middle East.
Financials of Travels & Rentals
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹12.24 crores |
| Fresh Issue | ₹12.24 crores |
| Offer for sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Working capital requirements | 8.03 (65.63%) |
| Issue related expenses | 1.71 (13.95%) |
| General corporate purposes | 2.5 (20.42%) |
Strengths
- The company has an established track record of 30+ years which indicates the company’s ability to weather economic and business cycles. The promoters have over 3 decades of experience in diverse industries.
- The company’s business model is order-driven and comprises optimum resource utilization, enabling it to achieve consequent economies of scale.
- The company has been a franchisee of Lufthansa City Center International GmbH (LCCI) since 2010 and has been granted the right to operate under “Business Plus Lufthansa City Center” in India since 2013. LCCI has a worldwide travel agency franchisee network in around 580 locations in 105 countries.
- Recently this year, The company has entered into a sales and marketing agreement with Group Voyagers Inc. for the sale of Globus family of brands travel products in India.
Risks
- The travel market is intensely competitive. The company’s success depends on its ability to compete effectively against numerous established and emerging competitors, including other online travel agencies, traditional offline travel companies, and travel research companies, both in India and outside India.
- The company had negative cash flow in recent fiscals. Sustained negative cash flow could adversely impact its business.
- The Group Company has incurred losses in the past and may incur losses in the future.
- The company generally does business with its customers on a travel package basis and does not enter into long-term contracts with any of them.
- The company’s inability or failure to recognize, respond to, and effectively manage the accelerated impact of social media could materially adversely affect the business.