The TSC India IPO was officially listed on the National Stock Exchange (NSE) on July 30, 2025, debuting at ₹68 per share, marking a 2.86% discount from its upper price band of ₹70. This B2B travel management company, known for specializing in air ticketing services since 2003, successfully completed its book-built issue worth ₹25.98 crores, consisting of a fresh issue of 36.98 lakh shares. The IPO subscription period spanned from July 23 to July 25, 2025, during which it achieved an impressive 3.61 times subscription on the final day.

TSC India has established a strong presence in several key Indian cities, including Jalandhar, Ahmedabad, Chandigarh, Amritsar, Delhi, Lucknow, Jaipur, and Bangalore. The company focuses primarily on providing cost-effective and efficient B2B air ticketing solutions, collaborating closely with airlines and travel agents across the country.

The IPO's share price band was fixed between ₹68 and ₹70 per equity share, with a market capitalization of approximately ₹98.33 crores at the upper band. The minimum investment was set at 2 lots (4,000 shares), equating to ₹2,80,000. The anchor investor portion saw a significant commitment, with ₹7.36 crores raised through the allotment of 10,52,000 shares at the upper price band of ₹70.

The company appointed Expert Global Consultants Private Limited as the Book Running Lead Manager, Bigshare Services Private Limited as the registrar, and Prabhat Financial Services Limited as the market maker for the IPO.

Regarding the Grey Market Premium (GMP), it remained at ₹0, indicating no premium or discount was discovered in unofficial markets before the listing, which aligns with the company's stable financial performance. However, it’s important to note that GMP reflects unofficial demand and supply and does not always mirror the actual listing price or market valuation.

Investors eagerly awaited the IPO allotment, finalized on July 28, 2025, which can be checked online via registrar websites using application numbers or PAN details. The timely allotment and listing process reflected a well-managed public offering.

The proceeds from the IPO are primarily aimed at fulfilling working capital requirements, with ₹22 crores earmarked for this purpose. The remainder will be utilized for general corporate purposes, positioning TSC India for growth and operational expansion.

TSC India Limited’s business model leverages technology and extensive industry experience to handle over 400 bookings daily, achieving 100% booking accuracy. With approximately 3,000 registered customers and a workforce of 72 employees across departments including finance, sales, operations, and R&D, the company is well-positioned for future growth.

The Indian travel and tourism sector, a critical pillar of the economy, contributed over 5% to GDP before the pandemic and is steadily recovering post-COVID-19. With growing domestic and international travel demand, companies like TSC India stand to benefit significantly from the sector's expansion. Recent data shows foreign tourist arrivals surged 43.4% in 2023, and domestic air travel volumes have maintained a strong upward trend with over 153 million departing passengers in FY 2023-24.

TSC India's business strengths include streamlined accounting, real-time flight and hotel information, end-to-end booking support, instant confirmations, extensive travel inventory, efficient sub-agent management, and GDS integration, which allows access to a wide global travel network. These factors contribute to enhanced operational efficiency and customer satisfaction.

Strategically, TSC India plans to maintain competitive pricing, leverage digital marketing and social media engagement, introduce value-added services, and carve niche market segments like luxury or adventure tourism to differentiate itself from competitors.

Despite the positive outlook, TSC India faces risks from global travel industry volatility, technological competition, and dependency on credit card payment systems which could affect cash flow and profitability. The company’s ability to innovate and maintain seamless platform usability will be crucial to sustaining growth.

Overall, the TSC India IPO listing at a slight discount reflects a balanced market sentiment, with promising subscription rates and anchor investor confidence. As the Indian travel sector rebounds strongly, TSC India is well placed to capitalize on increasing demand and expanding its footprint across the country.

The Upcoming IPOs in this week and coming weeks are BLT Logistics, Bhadora Industries, Highway Infrastructure, Flysbs Aviation, Parth Electricals & Engineering, Jyoti Global Plast, Cash Ur Drive Marketing, Renol Polychem, Jyoti Global Plast, Jyoti Global Plast.

The Current active IPO are B.D. Industries (Pune), NSDL, Takyon Networks, Mehul Colours, M&B Engineering, Sri Lotus Developers & Realty, Aditya Infotech, Lakshmi India Finance, Kaytex Fabrics, Umiya Mobile, Repono.

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