TSC India IPO
GMP, Subscription, Price, Dates & Financial Details
Travel Services
Established in 2003, TSC India Limited is a travel management company specializing in comprehensive air ticketing services, with a strong focus on the B2B and corporate travel sectors. The company collaborates with airlines and travel agents to deliver cost-effective, streamlined travel solutions…
Open Date
Wed, 23 Jul 2025
Close Date
Fri, 25 Jul 2025
Price Band
₹ 68 – 70
Lot Size
2000
Issue Size
₹ 25.89 Cr
Minimum Investment
₹ 280,000 (4000 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
TSC India IPO has successfully completed its IPO process and is now listed on NSE SME Platform. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹25.89 Crore, comprising a fresh issue of 36.98 Lakh equity shares aggregating to ₹25.89 Crore.
The TSC India IPO remained open for subscription from July 23, 2025, to July 25, 2025. The basis of allotment was finalized on July 28, 2025, and the company's shares were listed on NSE SME Platform on July 30, 2025.
The company had fixed the price band at ₹68 to ₹70 per share, with a lot size of 2000 shares. Retail investors were required to make a minimum investment of ₹280,000 (based on the upper price band) to apply for one lot.
Bigshare Services Pvt Ltd served as the registrar to the issue. Expert Global Consultants Private Limited acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, TSC India Ltd is now a publicly listed company on NSE SME Platform. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
TSC India IPO Timeline (Tentative)
- IPO Open Date
- Wed, 23 Jul 25
- IPO Close Date
- Fri, 25 Jul 25
- Basis of Allotment
- Mon, 28 Jul 25
- Initiation of Refunds
- Tue, 29 Jul 25
- Credit of Shares to Demat
- Tue, 29 Jul 25
- Listing Date
- Wed, 30 Jul 25 — NSE & BSE
Open Date
23 July 2025
Close Date
25 July 2025
Basis Of Allotment
28 July 2025
Listing Date
30 July 2025
IPO Subscription
Check Live Subscription →The TSC India IPO has received bids for 18,08,04,000 shares against 24,60,000 shares offered, resulting in an overall subscription of 73.5x. the NII category is subscribed 133.54x, Retail Investors 66.76x, and QIBs 40.15x. Within the NII category, BNII is subscribed 162.78x, while SNII is subscribed 75.06x.
QIB
40.15x
NII
133.54x
BNII
162.78x
SNII
75.06x
Total
73.5x
RII
66.76x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 12,30,000 shares, representing 50% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 7,02,000 shares (28.54%), while Non-Institutional Investors (NIIs) receive 5,28,000 shares (21.46%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Qualified Institutions | 702,000 | 28.54% |
| Non-Institutional | 528,000 | 21.46% |
| BNII | 352,000 | 14.31% |
| SNII | 176,000 | 7.15% |
| Retail Investors | 1,230,000 | 50% |
| Total | 2,460,000 | 100% |
Financials Details(₹ in Crores)
| Particular | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 45.29 | 54.03 | 26.16 | 14.55 |
| Revenue | 6.13 | 20.72 | 9.85 | 4.92 |
| Profit After Tax | 1.35 | 4.69 | 1.19 | 0.29 |
| Net Worth | 12.23 | 8.67 | 4.53 | 3.57 |
| Reserve & Surplus | 8.09 | 6.75 | 2.61 | 1.65 |
| Total Borrowings | 9.74 | 17.76 | 13.08 | 4.75 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
TSC India Ltd KPI Information
| Particular | KPI As On |
|---|---|
| ROE % | 54.1 |
| ROCE % | 27.39 |
| RoNW % | 54.1 |
| Pat Margin % | 24.25 |
Peers Comparison
No Peer Comparision Available
About TSC India Ltd
Established in 2003, TSC India Limited is a travel management company specializing in comprehensive air ticketing services, with a strong focus on the B2B and corporate travel sectors. The company collaborates with airlines and travel agents to deliver cost-effective, streamlined travel solutions tailored to its clients' needs.
TSC partners with various travel service providers to manage end-to-end travel planning, including flight bookings and corporate itinerary organization. With operations across key Indian cities such as Jalandhar, Chandigarh, Lucknow, Ahmedabad, Jaipur, New Delhi, and Pune, the company continues to expand its geographic footprint.
Client Base and Market Presence
TSC serves a broad range of clients including travel agencies, corporate entities, and tour operators. As of June 30, 2024, the company had registered over 2,100 customers, reinforcing its strong position in the B2B travel segment. Operationally, the company handles more than 420 bookings daily, 3,000 weekly, and over 12,000 monthly, demonstrating a high degree of efficiency and scale.
Over the past three years, TSC has facilitated the sale of approximately 200,000 tickets, primarily for retail, corporate, and tour operator clients.
Service Portfolio
TSC India offers a suite of travel services designed to simplify and optimize travel planning:
- Booking Management: Efficient systems for accurate and timely air travel reservations
- Analytical Reporting: Travel data insights to help clients monitor usage patterns and optimize travel spend
- Cost-Effective Solutions: Competitive pricing through partnerships and negotiations
- Consulting Services: Expert guidance and negotiation to secure favorable travel terms
- 24/7 Emergency Support: Round-the-clock assistance at no additional cost
- Transparent Practices: Clear communication of pricing, terms, and policies
- Integrated Travel Platform: A one-stop platform for booking and managing travel services
- Customer-Centric Approach: Skilled professionals focused on client satisfaction and personalized service
Technology & Competitive Strengths
- Automated Accounting Tools: Streamline financial and travel expense management
- Real-Time Updates: Live information on flights, hotels, and bookings
- Instant Booking & Confirmation: Reduces delays and uncertainty
- Comprehensive Offerings: Flights, accommodations, car rentals, and more on a unified platform
- GDS Integration: Access to Global Distribution Systems for a wide range of travel services and competitive rates
- End-to-End Support: Full assistance from inquiry through to booking confirmation
As of September 30, 2024, TSC employed 77 professionals across departments such as Administration, Finance, HR, Projects, Procurement, R&D, Sales, Operations, and Design.
TSC India continues to build on its legacy of delivering reliable, cost-effective, and client-focused travel solutions. Its integrated platform, experienced team, and growing customer base position it as a trusted partner in the corporate and B2B travel industry.
TSC India IPO Promoters
- Mr Ashish Kumar Mittal
- Mrs Puja Mittal
- Mr Vinay Gupta
Promoters Holding
Holding Pre Issue
90.74%
Holding Post Issue
0.00%
TSC India IPO Objective
The Company TSC India IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
- Working Capital Requirements of the Company
- General Corporate Purposes
- Issue Expenses
TSC India Ltd Address / Contact Details
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/
IPO Snapshot
TSC India IPO Lot Size
The TSC India IPO has a lot size of 2,000 shares. Retail investors require a minimum investment of ₹2,80,000 by applying for 2 lot (4,000 shares). The maximum application allowed for the retail category is 2 lots (4,000 shares), requiring an investment of ₹2,80,000.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 4,000 | 280,000.00 |
| Retail (Max) | 2 | 4,000 | 280,000.00 |
| S-HNI (Min) | 3 | 6,000 | 420,000.00 |
| S-HNI (Max) | 7 | 14,000 | 980,000.00 |
| B-HNI (Min) | 8 | 16,000 | 1,120,000.00 |
Issue Reservation
- QIB — 28.54%
- NII — 21.46%
- RII — 50%
Book Running Lead Managers
- Expert Global Consultants Private Limited
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the TSC India IPO?
TSC India IPO is a Book-building IPO with a total issue size of ₹25.89 crore. The TSC India IPO price band is ₹68 to 70 per share. The TSC India IPO subscription opens on Wed, Jul 23, 2025, and closes on Fri, Jul 25, 2025. The TSC India IPO will be listed on the NSE. Bigshare Services Pvt Ltd is the registrar for the TSC India IPO.
When will the TSC India IPO open for subscription?
The TSC India IPO opens on Wed, Jul 23, 2025 and closes on Fri, Jul 25, 2025
What is TSC India IPO Price Band?
TSC India IPO Price Band is ₹68 to 70 per share.
What is TSC India IPO Lot Size?
TSC India IPO lot size is 2000 shares, Retail investors need a minimum investment of ₹280000 based on the upper price band
What is the minimum investment for TSC India IPO?
The minimum investment for TSC India IPO is ₹280000, based on one lot of 2000 shares at the upper price band of ₹70 per share.
How to apply for TSC India IPO?
Investors can apply for the TSC India IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Fri, Jul 25, 2025. The application amount remains blocked until the TSC India IPO allotment is finalized.
What is TSC India IPO Issue Size?
TSC India IPO issue size is ₹25.89 crores.
What is the TSC India IPO Allotment Date?
TSC India IPO allotment date is Mon, Jul 28, 2025.
Who is the TSC India IPO Registrar?
The registrar for TSC India IPO is Bigshare Services Pvt Ltd. Investors can go to Bigshare Services Pvt Ltd website to check TSC India IPO allotment status, refund processing, and other IPO-related information.
What is the TSC India IPO GMP?
The TSC India IPO GMP (Grey Market Premium) is ₹10 as of Wed, Jul 30, 2025. Based on the upper price band of ₹70 per share, the estimated TSC India IPO listing price is ₹80, indicating a potential listing gain of approximately 14.29% over the issue price.
Who is the TSC India IPO Lead Manager?
The book-running lead managers (BRLMs) for the TSC India IPO are Expert Global Consultants Private Limited. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the TSC India IPO Red Herring Prospectus (RHP).