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Travels & Rentals IPO is a fixed price issue of Rs 12.24 crores. The issue is entirely a fresh issue of 30.6 lakh shares.
Travels & Rentals IPO bidding opened for subscription on August 29, 2024 and will close on September 2, 2024. The allotment for the Travels & Rentals IPO is expected to be finalized on Tuesday, September 3, 2024. Travels & Rentals IPO will list on BSE SME with tentative listing date fixed as Thursday, September 5, 2024.
Travels & Rentals IPO price is ₹40 per share. The minimum lot size for an application is 3000 Shares. The minimum amount of investment required by retail investors is ₹120,000. The minimum lot size investment for HNI is 2 lots (6,000 shares) amounting to ₹240,000.
Finshore Management Services Limited is the book running lead manager of the Travels & Rentals IPO, while Cameo Corporate Services Limited is the registrar for the issue. The market maker for Travels & Rentals IPO is Black Fox Financial.
Refer to Travels & Rentals IPO RHP for detailed information.
| IPO Date | August 29, 2024 to September 2, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹40 per share |
| Lot Size | 3000 Shares |
| Total Issue Size | 3,060,000 shares (aggregating up to ₹12.24 Cr) |
| Fresh Issue | 3,060,000 shares (aggregating up to ₹12.24 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 8,142,685 |
| Share holding post issue | 11,202,685 |
| Market Maker portion | 153,000 shares Black Fox Financial |
Travels & Rentals IPO offers 30,60,000 shares. 14,53,500 (47.5%) to NII, 14,53,500 (47.5%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 1,53,000 (5%) |
| Other Shares Offered | 14,53,500 (47.5%) |
| Retail Shares Offered | 14,53,500 (47.5%) |
| Total Shares Offered | 30,60,000 (100%) |
Travels & Rentals IPO opens on August 29, 2024, and closes on September 2, 2024.
| IPO Open Date | Thursday, August 29, 2024 |
| IPO Close Date | Monday, September 2, 2024 |
| Basis of Allotment | Tuesday, September 3, 2024 |
| Initiation of Refunds | Wednesday, September 4, 2024 |
| Credit of Shares to Demat | Wednesday, September 4, 2024 |
| Listing Date | Thursday, September 5, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 2, 2024 |
Investors can bid for a minimum of 3000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹120,000 |
| Retail (Max) | 1 | 3000 | ₹120,000 |
| HNI (Min) | 2 | 6,000 | ₹240,000 |
| Lot Size Calculator | |||
The promoters of the company are Mr. Devendra Bharat Parekh, Mrs. Karuna Parekh, Mrs. Anupama Singhi, and Mr. Tushar Singhi.
| Share Holding Pre Issue | 86.48% |
| Share Holding Post Issue | 62.86% |
Incorporated in 1996, Travels & Rentals Limited provides a wide range of travel-related products and services for complete travel solutions. The company offers airline tickets, hotels, tour packages, rail tickets, as well as additional services like travel insurance, passport & visa processing, and tickets for activities and attractions.
The products/services of the company include the following:
The company has a strong network with travel agents across Europe, the USA, South and Southeast Asia, the Middle East, Africa, and Australia.
The company is accredited by the International Air Transport Association (IATA) in Geneva, Switzerland. It is also recognized by the Ministry of Tourism, Government of India and is a member of both the Travel Agent Association of India (TAAI) and the Indian Association of Tour Operators (IATO).
As of March 31, 2024 the company has 58 employees.
Travels & Rentals Limited's revenue increased by 39% and profit after tax (PAT) rose by 97% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | |||||||||||||||||||||||||||
| Assets | 2,469.85 | 1,647.11 | 1,334.29 | |||||||||||||||||||||||||||
| Revenue | 803.54 | 579.06 | 290.59 | |||||||||||||||||||||||||||
| Profit After Tax | 296.55 | 150.64 | 69.01 | |||||||||||||||||||||||||||
| Net Worth | 1,478.48 | 741.52 | 490.88 | |||||||||||||||||||||||||||
| Reserves and Surplus | 664.21 | 540.33 | 314.69 | |||||||||||||||||||||||||||
| Total Borrowing | 470.94 | 560.97 | 755.41 | |||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||
The market capitalization of Travels & Rentals IPO is Rs 44.81 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 26.72% |
| ROCE | 27.54% |
| Debt/Equity | 0.32 |
| RoNW | 20.06% |
| P/BV | 2.2 |
| PAT Margin (%) | 36.91 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 3.64 | 2.65 |
| P/E (x) | 10.98 | 15.11 |
The company proposes to utilize the funds which are being raised through this Issue towards the below-mentioned objects:
[Dilip Davda] The company is providing all travel/visa related products and services under one roof. It has tie-up with LCCI and is registered with TAAI and IATO. The company has reported steady growth in its top and bottom lines for the reported periods. Based on FY24 earnings, the issue appears reasonably priced. Investors may park funds for medium to long term. Read detail review...
The Travels & Rentals IPO is subscribed 11.75 times on August 30, 2024 7:02:08 PM. The public issue subscribed 20.24 times in the retail category, times in the QIB category, and 3.27 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 3.27 |
| Retail | 20.24 |
| Total | 11.75 |
Total Application : 11,019 (22.72 times)
Travels & Rentals Limited
161, Lenin Sarani
Dharmatala
Kolkata - 700013,
Phone: +91 33 40000777
Email: cs@travelsandrentals.com
Website: https://www.travelsandrentals.in/
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: investor@cameoindia.com
Website: https://ipo.cameoindia.com/
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Travels & Rentals IPO is a SME IPO of 3,060,000 equity shares of the face value of ₹10 aggregating up to ₹12.24 Crores. The issue is priced at ₹40 per share. The minimum order quantity is 3000 Shares.
The IPO opens on August 29, 2024, and closes on September 2, 2024.
Cameo Corporate Services Limited is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Travels & Rentals IPO using UPI as a payment gateway. Zerodha customers can apply in Travels & Rentals IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Travels & Rentals IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Travels & Rentals IPO opens on August 29, 2024 and closes on September 2, 2024.
Travels & Rentals IPO lot size is 3000 Shares, and the minimum amount required is ₹120,000.
You can apply in Travels & Rentals IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Travels & Rentals IPO will be done on Tuesday, September 3, 2024, and the allotted shares will be credited to your demat account by Wednesday, September 4, 2024. Check the Travels & Rentals IPO allotment status.
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