TSC India IPO
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Schedule of TSC India
| Issue open date | 23 Jul 2025 |
| Issue close date | 25 Jul 2025 |
| UPI mandate deadline | 25 Jul 2025 (5 PM) |
| Allotment finalization | 28 Jul 2025 |
| Refund initiation | 29 Jul 2025 |
| Share credit | 29 Jul 2025 |
| Listing date | 30 Jul 2025 |
| Mandate end date | 11 Aug 2025 |
| Lock-in end date for anchor investors (50%) | 27 Sep 2025 |
| Lock-in end date for anchor investors (remaining) | 26 Oct 2025 |
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 TSC India
Founded in 2003, TSC India Limited specializes in air ticketing services for the B2B and corporate sectors. The company partners with airlines and travel agents to provide cost-effective travel solutions and manage corporate itineraries. Operating in multiple cities across India, TSC India handles 420 bookings daily, serving over 2,100 customers. With a growing presence and a dedicated team, the company is poised for continued expansion in the travel management industry.
Financials of TSC India
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹25.89 crores |
| Fresh Issue | ₹25.89 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Working capital requirements | 22 (85%) |
| General corporate purposes | – |
| Issue related expenses | – |
Strengths
- Comprehensive suite of travel management solutions, enhancing operational efficiency
- Leveraging Global Distribution Systems (GDS) partnerships to offer a broad range of travel services
- Processes 420+ daily bookings and serves 2,100+ customers, demonstrating strong B2B market presence
- Experienced Promoters having deep domain knowledge
- 20+ years of experience in B2B travel management with a focus on air ticketing
Risks
- The company earned 87 percent of total gross transaction values (GTV) from Jalandhar alone
- Client concentration with Top 5 contributing over 50% of revenue in FY24
- Dependence on third-party web hosting providers
- Highly competitive industry combined with regulatory challenges
- Contingent liabilities, if materialized may impact financials
Subscription Figures for TSC India
Subscription numbers as of 5:00 PM on 23 July 2025:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| Institutional | 7.04 | 7.14 | 1.01x |
| NII | 5.28 | 2.34 | 0.44x |
| Retail | 12.30 | 9.96 | 0.81x |
| Total | 24.62 | 19.44 | 0.79x |