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TSC India IPO
Price Band
₹68.0–70.0
Issue Size
₹25.89 Cr
Lot Size
2,000 shares
Min Investment
₹280,000
2 LOTS MIN
GMP
+₹10.0 (14.29%)
Issue Price
₹70.0
Subject to Sauda
₹15200
Paid only if allotted
TSC India IPO AI Summary
- TSC India IPO is listed on NSE SME in the Tour, Travel Related Services sector.
- Price band: ₹68.0–₹70.0 per share, lot size 2,000 shares (min. investment ₹280,000, 2 lots minimum).
- Subscription window: 23 Jul–25 Jul 2025, listing on 30 Jul 2025.
- Current GMP is +₹10.0 (14.29%), an estimated listing price of ₹80 — unofficial and can change daily.
TSC India Limited is a travel management company with a strong B2B focus, offering various travel-related services. The company has shown consistent revenue and profit growth, and it plans to utilize the IPO proceeds for working capital and corporate purposes. Investors should consider their risk profile and the company's financial health when evaluating this IPO.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
TSC India IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 25 Jul 2025 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
TSC India IPO Grey Market Premium (GMP) Today
GMP
+₹10.0
GMP %
+14.29%
Est. Listing
₹80.0
Updated: 25 Jul 2026 14:14
About the Company
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, and Pune, it reflects its expanding presence in India. The company has a diverse client base, including travel agencies, corporations, and tour operators. The company manages over 420 bookings daily, 3,000 weekly, and 12,000 monthly, demonstrating operational efficiency. By June 30, 2024, it registered over 2,100 customers, highlighting its strong B2B travel market presence. The company offers the following services:- Booking Management: Streamlined processes enable accurate air travel reservations. Analytical Reporting Systems: Data-driven insights help customers analyze travel patterns and optimize strategies. Cost-Effective Solutions: Competitive pricing ensures clients get quality travel solutions at optimal rates. Consulting and Negotiation Expertise: Consulting services help navigate travel requirements and secure favourable terms. 24/7 Emergency Support: 24/7 assistance is available at no extra cost, providing immediate support during emergency disruptions. Transparent Practices: Transparent communication about pricing and policies builds client trust. Integrated One-Stop Solutions: One platform simplifies management and offers travel info and services. Customer-Focused Service: Experienced professionals efficiently meet client needs and strongly commit to customer service satisfaction. As of September 30, 2024, the company employed 77 people across various departments, including Administration, Finance, HR, Projects, Procurement, R&D, Sales, Operations, and Design. Competitive Strength: Automated accounting solutions designed to simplify financial management. Offers real-time updates on flights and hotels. Support is provided throughout the booking process, from inquiries to confirmations. Instant Booking and Confirmation. The platform offers diverse travel services like flights, accommodations, and car rentals. Quick and reliable booking confirmations to reduce uncertainties and delays. Platform integrates with Global Distribution Systems (GDS) to access various travel services and competitive rates.
Company Financials (₹ Cr)
As of 2024-06-30
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 61.45 | 53.33 | 26.16 |
| Total Income | 26.32 | 20.59 | 9.85 |
| Profit After Tax | 4.93 | 4.72 | 1.22 |
| EBITDA | 8.75 | 8.19 | 2.82 |
| NET Worth | 15.83 | 8.74 | 4.56 |
| Reserves and Surplus | 5.48 | 6.82 | 2.64 |
| Total Borrowing | 25.53 | 17.76 | 13.08 |
Key Ratios
EPS
₹4.53
NAV
₹15.29
ROE
31.13%
ROCE
19.49%
RoNW
31.13%
P/B Value
1.55
P/E Ratio
15.44
Market Cap
₹98.34 Cr
PAT Margin
19.11%
Peer Comparison
| Company | NAV | RoNW | EPS Basic | EPS Diluted |
|---|---|---|---|---|
| TSC India Ltd. This IPO | 15.29 | 31.13% | 5.07 | 5.07 |
Promoters
Ashish Kumar Mittal
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Working Capital Requirements of the Company 22.00 2 General Corporate Purposes 1.14 3 Issue Expenses 2.74 Total 25.89
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income grew from ₹9.85 Cr in the year ending 31 Mar 2023 to ₹20.59 Cr by 31 Mar 2024, and further increased to ₹26.32 Cr by 31 Mar 2025. This indicates a consistent upward trend in revenue over the periods.
Profit Trend
Profit After Tax rose from ₹1.22 Cr in the year ending 31 Mar 2023 to ₹4.72 Cr by 31 Mar 2024, and then to ₹4.93 Cr by 31 Mar 2025. This shows a steady increase in profitability across the periods.
Valuation
At the issue price of ₹70.0, TSC India has an implied P/E ratio of approximately 15.44, compared to peers trading at similar valuations.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO based on demand in the unofficial market. A positive GMP suggests that the IPO may list at a higher price than the issue price, while a negative GMP indicates potential listing price drops.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. It is essential to consider the company's market position and financial health before making a decision.
Who May Want to Wait
Investors who are risk-averse or uncomfortable with the inherent uncertainties of IPO investments may want to avoid this offering. It is crucial to assess personal financial situations and investment strategies.
IPO Timeline, Explained
The IPO opens for subscription on July 23, 2025, and closes on July 25, 2025. Allotment of shares will be done by July 28, 2025, with the listing expected on July 30, 2025.
Listing Gains — The Risk
While listing gains can be attractive, they are not guaranteed. Market conditions, investor sentiment, and company performance can all impact the stock's price on the listing day. Investors should be prepared for potential volatility.
This evaluation is generated from TSC India's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is TSC India IPO GMP today?
TSC India IPO GMP today is +₹10.0 (14.29%), indicating an estimated listing price of ₹80. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of TSC India IPO?
The price band of TSC India IPO is ₹68.0–₹70.0 per share.
When does TSC India IPO open and close?
TSC India IPO opens on 23 July 2025 and closes on 25 July 2025.
When does TSC India IPO list on the stock exchange?
TSC India IPO listed on 30 July 2025 at ₹80.0.
What is the lot size for TSC India IPO?
The lot size for TSC India IPO is 2000 shares, requiring a minimum investment of ₹280,000 (2 lots).
What is the issue price of TSC India IPO?
The issue price of TSC India IPO is ₹70.0.
What is the minimum investment required?
The minimum investment required is ₹280,000.0.
What is the lot size for the IPO?
The lot size for the IPO is 2,000 shares.
When is the listing date for TSC India?
The listing date is July 30, 2025.
What does GMP stand for?
GMP stands for Grey Market Premium, which indicates the expected listing price of the IPO.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
23 Jul 2025
Close
25 Jul 2025
Allotment
28 Jul 2025
Listing
30 Jul 2025
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