TSC India IPO

About TSC India IPO

TSC India Limited IPO is an IPO of ₹25.89 crores. It consists of a fresh issue of up to 36,98,000 equity shares of face value of ₹10 each.

The IPO opens on July 23, 2025 and closes on July 25, 2025. The shares will be allotted on July 28, 2025. The credit of shares to the demat account will take place on July 29, 2025, and the initiation of refunds will take place on July 29, 2025.

TSC India Limited (TSC) is a travel management company focused on serving the B2B and corporate sectors. The company specialises in providing comprehensive air ticketing services tailored to the requirements of its business clients. TSC works in close collaboration with airlines and travel agents to deliver cost-effective and streamlined travel solutions.

Objective of TSC India IPO

• Working capital requirements of the company.
• General corporate purposes.

Industry Outlook

The global tourism industry, once a cornerstone of economic stability, is experiencing a robust resurgence. Prior to the pandemic, travel and tourism accounted for one in five new jobs and contributed 10.4% to global GDP, supporting 33.4 crores jobs worldwide. In FY 2018, tourism contributed 5.03% to India’s GDP, reflecting a period of steady growth driven by increased global interest and effective government initiatives. However, the onset of the COVID-19 pandemic led to a dramatic decline in tourism’s contribution to GDP, falling to 1.50% in FY 2021. By FY 2022, the sector began to show signs of recovery, with the contribution rising to 1.77% as restrictions eased and travel gradually resumed. Technological advancements are revolutionising the airline industry’s ticketing solutions, driving significant changes in how airlines engage with passengers and manage operations. Innovations such as Android-based in-seat platforms, wireless internet, and in-flight e-commerce are enhancing passenger engagement and opening new revenue streams. Additionally, technologies like New Distribution Capability (NDC) and ONE Order are transforming airline distribution by streamlining transactions through APIs, while digital twins and AI are improving predictive analytics and air traffic management.

Company Information

TSC India Limited (TSC) is a travel management company that specialises in providing comprehensive air ticketing services tailored to the requirements of its clients. It focuses on serving the B2B and corporate sectors. TSC works in close collaboration with airlines and travel agents to deliver cost-effective and streamlined travel solutions to end-user customers. TSC’s operations encompass partnerships with a range of travel service providers, enabling it to manage various aspects of travel planning, including booking air tickets and organising corporate travel itineraries. The company operates in multiple cities across India, including Jalandhar, Chandigarh, Lucknow, Ahmedabad, Jaipur, New Delhi, and Pune, reflecting its growing geographical presence.

Strengths of TSC India IPO

• End-to-end booking support.
  
• Instant booking and confirmation.
  
• Extensive travel inventory.
  
• Guaranteed booking confirmation.
  
• Partnership with GDS services.
  

Risks of TSC India IPO

• Their business is significantly dependent on the global travel and tourism industry, and adverse developments in this industry could materially affect their operations, financial performance, and growth prospects.

• They rely on third-party web hosting providers, and any disruption, technical issues, or failures on their part could adversely affect their platform's performance, user experience, and business operations.

• They are subject to risks associated with expansion into new geographic regions, which could adversely affect their business, results of operations, and financial condition.

• Delays in receiving payments or making timely payments may adversely affect their business, financial condition, and results of operations.

• Demand for travel, and consequently, traffic on their platform, is subject to seasonal fluctuations.

Anchor Investor Information: 22 July 2025

IPO Registrar and Book Running Lead Managers

Book running lead managers:

Expert Global Consultants Private Limited

Registrar for the IPO is Bigshare Services Private Ltd

Business Model

The company earns its revenue through partnerships with a range of travel service providers, which enable them to manage various aspects of travel planning, including booking air tickets and organising corporate travel itineraries.

Company Growth Trajectory

Revenue from operations increased from ₹19.37 crores in the year ended 31 March 2024 to ₹25.78 crores in the year ended 31 March 2025, with a resultant increase of 33.13% in the year ended 31 March 2025. Other income decreased from ₹1.23 crores in the year ended 31 March 2024 to ₹0.54 crores in the year ended 31 March 2025, with a percentage change of 56.13%.

Net profit after tax increased from ₹4.72 crores in the year that ended 31 March 2024 to ₹4.93 crores in the year that ended 31 March 2025, with a resultant increase of 4.42% in the year that ended 31 March 2025. PAT margin decreased from 22.91% in the year that ended 31 March 2024 to 18.72% in the year that ended 31 March 2025.

Company Market Position

TSC India Limited (TSC) is a well-established travel management company with over 20 years of experience, specialising in B2B air ticketing services. Supported by a skilled team of more than 75 professionals, TSC has facilitated the sale of approximately 3,30,000 tickets over the past three years, catering primarily to retailers, tour operators, and corporate clients. The company operates from seven locations across India and has achieved a consistent 100% booking accuracy. TSC handles an average booking volume of over 400 per day, 3,000 per week, and 13,000 per month, reflecting its operational efficiency. As of 31 March 2025, the company has successfully registered over 3,000 customers on its platform, further underscoring its strong presence in the B2B travel market.

How To Check Allotment Status of TSC India IPO?

You can check the allotment status of shares either on the website of the National Stock Exchange (NSE) or on the website of the registrar Bigshare Services Private Limited.

To check the status on the NSE website:

• Visit the NSE website
• Click on “Investor Services” and choose “Application Status Check”
• Choose the issue type — Equity or Debt (Equity in this case)
• Select the Issue Name from the drop-down. The issue name is the company’s name, which is TSC India Limited
• Enter your application number or PAN number
• Check the box which says “I’m not a Robot” and click on “Search” to know the allotment status

Follow these steps to know the allotment status on the registrar’s website:

• Visit the Bigshare Services Private Limited website
• Choose “Public Issues” from the “Investor Services” drop-down
• Select TSC India Limited from the drop-down
• Enter your PAN number or Application number
• Click on “Submit” to know the allotment status

How to Apply for Dr Agarwal’s Health Care Ltd IPO?

To apply for this IPO:

• Step 1: Log in to your Kotak Securities Demat account: Log in to your Demat account to access IPO investments. Next, select the current IPO section
  
• Step 2: Specify IPO details: Enter the number of lots and the price you wish to apply for
  
• Step 3: Enter UPI ID: After entering your UPI ID, click submit. This will place your bid with the exchange
  
• Step 4: Mandate Notification: Your UPI app will receive a mandate notification to block funds
  
• Step 5: Approve Request: Your funds will be blocked once you approve the mandate request on your UPI