TSC India IPO
TSC India IPO
Overview
TSC India IPO is a bookbuilding of ₹25.89 crores. The issue is entirely a fresh issue of 36.98 lakh shares. TSC India IPO opens for subscription on July 23, 2025 and closes on July 25, 2025. The allotment for the TSC India IPO is expected to be finalized on Monday, July 28, 2025. TSC India IPO will be list on NSE SME with a tentative listing date fixed as Wednesday, July 30, 2025. TSC India IPO price band is set at ₹68 to ₹70 per share. The lot size for an application is 2,000. The minimum amount of investment required by an individual investor (retail) is ₹2,72,000 (4,000 shares). The minimum lot size investment for HNI is 3 lots (6,000 shares) amounting to ₹4,20,000. Expert Global Consultants Private Limited is the book-running lead manager of the TSC India IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.The market maker for TSC India IPO is Prabhat Financial Services Ltd..
Total Shares
36,98,000
Issue Size
₹25.89 Cr
Price Band
₹68 – ₹70
Lot Size
2000 shares
Min. Investment
₹2,80,000
Max. Investment
₹2,80,000
Open Date
23 Jul, 2025
Close Date
25 Jul, 2025
Allotment
28 Jul, 2025
Listing
30 Jul, 2025
Max. Investment
₹2,80,000
Announced
23 Jul, 2025
Opening Date
23 Jul, 2025
Closing Date
25 Jul, 2025
Basis of Allotment
28 Jul, 2025
Initiation of Refunds
29 Jul, 2025
Credit of Shares
29 Jul, 2025
Listing Date
30 Jul, 2025
Live GMP
Est. Listing: ₹82
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About TSC India IPO
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
TSC India IPO Share Price
Issue Breakdown
Shareholding
Dilution: 35.7% increase in shares
TSC India IPO Promoters Holding
TSC India IPO Financial Health
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.
TSC India IPO Lot Size
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 | 4000 | ₹2,80,000 |
| Individual investors (Retail) (Max) | 2 | 4000 | ₹2,80,000 |
| S-HNI (Min) | 3 | 6000 | ₹4,20,000 |
| S-HNI (Max) | 7 | 14000 | ₹9,80,000 |
| B-HNI (Min) | 8 | 16000 | ₹11,20,000 |
(All values in CR)
TSC India IPO Valuations
The market capitalization of TSC India IPO is ₹98.34 Cr. KPI as of Mon, Mar 31, 2025.
| Metric | Value |
|---|---|
| ROE | 31.13 |
| ROCE | 19.49 |
| RoNW | 31.13 |
| PAT Margin | 19.11 |
| EBITDA Margin | 33.96 |
| Price to Book Value | 1.55 |
(All values in CR)
TSC India IPO Strength & Risk
TSC India IPO Strength:
Impressive financial growth
Revenue surged from ₹4.5 cr (FY22) → ₹9.3 cr (FY23) → ₹19.35 cr (FY24).
Profit after tax rose from ₹0.29 cr to ₹4.69 cr over the same period.
High operational efficiency
Processes ~12,000 bookings per month with 100% accuracy, across seven cities.
Registered over 2,100 B2B clients and sold ~200,000 tickets in last three years.
Strong margin profile & cash flows
EBITDA grew to ₹8.19 cr in FY24; EPS jumped to ₹24.44.
Robust market presence & credentials
20+ years in B2B travel space with ISO 9001:2015 certification.
TSC India IPO Risk:
Exposed to travel industry cycles
Heavy reliance on global and domestic travel demand; downturns can significantly impact revenues.
SME segment-specific concerns
SME IPOs face higher volatility, lower liquidity, and weaker regulatory oversight compared to mainboard offerings.
Rajiv warnings from SEBI about promotional manipulation in SME IPOs.
Limited transparency & oversight
SME companies are not subject to the same disclosure standards—raising concerns over governance and accuracy of financials.
Heavy subscription commitment
Minimum application is ₹1.4 lakh (2,000 shares)—a sizable amount that may not suit all investors.
TSC India IPO Subscriptions Status
TSC India IPO subscribed 71.85 times. The public issue subscribed 63.89 times in the individual investors category, 40.03 times in QIB, and 132.81 times in the NII category by July 25, 2025 3:54:59 PM (Day 3).
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Rs Cr.) |
|---|---|---|---|---|
| Anchor | 1.00 | 10,50,000 | 10,50,000 | 7.35 |
| Market Maker | 1.00 | 1,86,000 | 1,86,000 | 1.302 |
| Qualified Institutions | 40.03 | 7,04,000 | 2,81,82,000 | 197.274 |
| Non-Institutional Buyers | 132.81 | 5,28,000 | 7,01,26,000 | 490.882 |
| Individual Investors (IND category bidding for 2 Lots) | 63.89 | 12,30,000 | 7,85,84,000 | 550.088 |
| Total | 71.85 | 24,62,000 | 17,68,92,000 | 1 |
TSC India IPO GMP
TSC India SME IPO last GMP is ₹12, last updated Jul 25th 2025 02:55 PM. With the price band of 70.00, TSC India SME IPO's estimated listing price is ₹82 (cap price + today's GMP).The expected percentage gain/loss per share is 17.14%. >> TSC India SME IPO Retail Subject to Sauda: ₹18200 The lowest GMP is ₹0.00, while the highest GMP is ₹12.00.
Last updated 25 Jul, 2025 · Source: aggregated grey-market dealers
| Date | IPO Price | GMP | Sub2 Sauda | Est. Listing | Est. Profit | Updated |
|---|---|---|---|---|---|---|
| 25 Jul, 2025 | 70 | ₹12▲ | 18200 | ₹82 (17.14%) | 24000 | 25 Jul, 2025 |
| 24 Jul, 2025 | 70 | ₹0 | - | ₹70 (0.00%) | - | 24 Jul, 2025 |
| 23 Jul, 2025 | 70 | ₹0 | - | ₹70 (0.00%) | - | 23 Jul, 2025 |
| 22 Jul, 2025 | 70 | ₹0 | - | ₹70 (0.00%) | - | 22 Jul, 2025 |
| 21 Jul, 2025 | 70 | ₹0 | - | ₹70 (0.00%) | - | 21 Jul, 2025 |
| 20 Jul, 2025 | 70 | ₹0 | - | ₹70 (0.00%) | - | 20 Jul, 2025 |
| 19 Jul, 2025 | 70 | ₹0 | - | - | - | 19 Jul, 2025 |
| 18 Jul, 2025 | 70 | ₹0 | - | - | - | 18 Jul, 2025 |
| 17 Jul, 2025 | 70 | ₹0 | - | - | - | 17 Jul, 2025 |
Disclaimer: GMP is an unofficial signal from grey-market dealers and is not regulated by SEBI. Use it alongside subscription data and other research for informed decision-making.
How to Apply for TSC India IPO
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Find TSC India IPO under the IPO section. Select it and enter your bid details — choose lot size and price (cut-off price recommended).
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Application Confirmed
Your funds will be blocked in your account until the IPO allotment process is completed.