TSC India IPO: Price, Date, GMP, And Overview

TSC India IPO- Complete Overview

TSC India IPO under the SME IPO category is a book build issue of Rs. 25.89 Cr by TSC India Ltd. The company was established in 2003 and is focused on offering air ticketing services for clients as a travel management firm. TSC has partnerships with airlines and travel agents, enabling it to provide cost-effective flights for the B2B and corporate segments.

The company serves a diverse clientele that includes agencies, corporations, and tour operators and has a strong presence in the B2B travel industry, acquiring more than 2,100 customers by June 2024.

The services offered by the company include:

Booking Management: The automated systems put in place guarantee proper reservation of air travel bookings.

Analytical Reporting Systems: Customers are empowered through data and can formulate optimal travel strategies tailored to their organisation's travel patterns and thereby formulate efficient travel management policies.

Cost-Effective Solutions: Clients receive high-quality solutions at very competitive pricing; therefore, value for their money is always assured.

Consulting and Negotiation Expertise: Through specific consulting, clients are provided with appropriate services to meet their travel needs.

24/7 Emergency Support: Clients experiencing emergencies or unforeseen circumstances outside of their control are assisted instantly at no extra cost.

Transparent Practices: Trust is cultivated with clients as pricing and policies are explained and documented appropriately.

Integrated One-Stop Solutions: Travel services and information are streamlined through a single platform, which makes management effortless.

Customer-Centred Service: The particular standards of clients are fully captured by trained and efficient customer service practitioners.

 

TSC India IPO Overview

The TSC India IPO date is on 23 July 2025, and its initial public offering will end on 25 July 2025. 

The Rs. 25.89 Crore new SME IPO comprises a wholly fresh issue of 36.98 lac shares.

The TSC India IPO listing date (expected) might be on Wednesday, Jul 30, 2025, and listing at the NSE SME.

 

 

Click to open demat account and apply for the IPO.

Company Financial

(Amount in Cr)

Period	31 Mar 2025	31 Mar 2024	31 Mar 2023
Total Assets	61.45	53.33	26.16
Total Revenue	26.32	20.59	9.85
PAT	4.93	4.72	1.22
Net Worth	15.83	8.74	4.56
Reserves & Surplus	5.48	6.82	2.64
Borrowings	25.53	17.76	13.08

 

Cash Flows

(Amount in lac)

Net Cash Flow in Multiple Activities	31 Mar 2025	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	(1,346.32)	(19.25)	(115.72)
Net Cash Flow Investing Activities	135.21	193.46	(680.55)
Net Cash Flow Financing Activities	1,000.23	364.32	778.97

 

Revenue Bifurcation

Stream-wise Revenue Bifurcation

(Rs. in lac)

(Source: RHP)

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• Issue expenses.

• Funding the working capital needs of the business.

• General corporate purposes.

 

Click to check the IPO application status.

 

Listed Peers of TSC India Ltd. 

No listed peer of a similar size is engaged in the same lines of business as mentioned in the RHP.

Evaluation

The TSC India IPO price is Rs. 68 to Rs. 70 for each Share.

Evaluation of P/E Ratio

Considering the FY ended on 31 Mar 2025 with an EPS of Rs. 4.76 from the last year, the resulting P/E ratio is 14.70x.

Considering the weighted EPS of Rs. 4.10 for the last three years, the P/E ratio is 17.07x

Explore the Swastika Castal IPO.

IPO's Strengths

• Automated systems provide streamlining options for accounting purposes.

• Offers services that provide instant refresh updates on Flight and Hotel reservations.

• Full support is offered during the booking cycle, which encompasses all activities from inquiries to confirmation phases.

• Booking and Confirmation occur instantly.

• The multifarious platform provides flight and accommodation services as well as car hire services.
  
  

 

 

IPO’s Weaknesses

• A significant part of TSC India’s revenue comes from a handful of clients. The company’s operations and profitability stand to suffer greatly if any one of these clients is lost or experiences reduced business volume.

• There are no long-term agreements in place, as most of the company's clients are served on a contract basis. Hence, business can be scaled down or stopped entirely at any time. 

• A considerable part of TSC India’s business activities is limited to specific geographical areas. The continuity of business operations and revenue generation is at risk from some regionally disruptive political, regulatory, and environmental changes.

TSC India IPO GMP

TSC India IPO GMP is Rs. 0 as of 19 Jul 2025 at the time of writing this information, and subject to real-time changes. Hence, TSC India IPO listing price (estimated) might be Rs. 70 (upper price + current GMP).

IPO Timetable (Tentative)

The TSC IPO date of opening is from Jul 23 to Jul 25, 2025, allotment on Jul 28, refund initiation on Jul 29, and listing on Jul 30, 2025.

Events	Date
IPO Opening Date	Jul 23, 2025
IPO Closing Date	Jul 25, 2025
IPO Allotment Date	Jul 28, 2025
Refund Initiation	Jul 29, 2025
IPO Listing Date	Jul 30, 2025

 

TSC India IPO Details 

The TSC India IPO with a Face Value of Rs. 10 per share offers a total issue size of 36,98,000 Shares (Rs. 25.89 Cr) with a market maker portion of 1,86,000 Shares (Rs. 1 Cr).

IPO Opening & Closing Date	23 Jul, 2025 to 25 Jul, 2025
Face Value	Rs. 10 per Share
Issue Price	Rs. 68 to Rs. 70 per Share.
Lot Size	2000 Shares
Issue Size	36,98,000 Shares (Rs. 25.89 Cr)
Offer for Sale	-
Fresh Issue	36,98,000 Shares (Rs. 25.89 Cr)
Listing at	NSE, SME
Issue Type	Book Build Issue
Registrar	Bigshare Services Pvt Ltd.

IPO Lot Details 

Retail investors can invest in a minimum and maximum of 2 Lots (4000 Shares) for Rs. 2,80,000 and in multiples thereof, while for HNI investors, the minimum Lot is 3 (6000 Shares) for Rs. 4,20,000.

Minimum Lot Investment (Retail)	2 Lots
Maximum Lot Investment (Retail)	2 Lots
HNI (Min)	3 Lots

 

IPO Reservation (% of Net Issue)

Market Maker’s Portion	5.03%
Retail’s Portion	33.26%
Non-Institutional Portion	14.28%
Institutional’s Portion	47.43%

 

 

Promoters And Management of TSC India Ltd.

• Mr. Ashish Kumar Mittal.

• Mrs. Puja Mittal.

• Mr. Vinay Gupta.
  
  

Pre-Issue Promoter Shareholding	90.74%
Post-Issue Promoter Shareholding	-

 

IPO Lead Managers

• Expert Global Consultants Private Limited.

 

Dividend Policy

The company has not paid a dividend in the last three fiscal years.

 

Conclusion  

TSC India IPO of Rs. 25.89 Cr is from the company, which has a significant position in the corporate travel market, presents a great opportunity through its IPO. It has some risks including customer concentration and geographical dependence despite the company's strong clientele and tech-driven offerings.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.