Travelstack Tech gets final Sebi nod for its IPO
New Delhi-based Travelstack Tech has received final approval from the capital markets regulator, Securities and Exchange Board of India (SEBI) for its initial public offering (IPO).
The Company had filed its IPO papers with Sebi on December 17, 2025.
The IPO consists of a fresh issue aggregating up to ?250 crore and an offer for sale of up to 26,852,969 equity shares by promoters - Vaibhav Aggarwal and Adarssh Mnpuria.
Investors selling shares - Anupam Mittal, Accel India IV (Mauritius) Ltd, Global Private Opportunities Partners II LP, Global Private Opportunities Partners II Offshore Holdings LP, Panthera Growth Fund II VCC, PGP India Growth Fund I, Panthera Growth II, XTO10X Mauritius Pte. Ltd and Qualcomm Asia Pacific Pte. Ltd.
The proceeds from its fresh issuance worth Rs 135 crore will be utilized for part funding the working capital requirements of the company, Rs 45 crore for repayment and / or prepayment, in full or in part, of certain borrowings availed by the company, and general corporate purposes.
Incorporated in 2014, the Company operates TravelPlus, India’s largest hotels-focused corporate travel management platform for enterprise clients in terms of revenue from operations in Fiscal 2025 (Source: 1 Lattice Report).
During the six months ended September 30, 2025, TravelPlus served 474 enterprise clients, including over 100 NSE-listed companies and more than 50 multinational corporations. Its client base includes leading organizations such as AB InBev, Astral Limited, Comviva, Emcure Pharmaceuticals, Eternal (formerly Zomato, including Blinkit and others), Jyothy Labs, NIIT, Shalimar Paints, Tata Projects, Titan Company, Ujjivan Small Finance Bank, and Zepto.
The platform operates a managed marketplace comprising over 25,000 active hotels across India, spanning both economy and premium segments.
The Company’s technology-enabled platform allows enterprise employees and travel desks to seamlessly book travel, manage approvals, process expenses, and access end-to-end support across the travel lifecycle.
This enables enterprises to optimize travel expenditure, enhance policy compliance, and improve convenience for all stakeholders. While hotels constitute the Company’s strategic focus, it also offers comprehensive and integrated solutions covering air travel, ground transportation, and meetings, incentives, conferences, and exhibitions (MICE), allowing enterprises to consolidate all travel requirements on a single platform and reduce reliance on multiple vendors.
Hotels contributed 92.71% of the Company’s gross transaction value (“GTV”) during the six months ended September 30, 2025, and 94.18%, 95.92%, and 99.71% of GTV in Fiscals 2025, 2024, and 2023, respectively.
The platform delivers both process excellence, including workflow automation, policy compliance, GST-compliant invoicing, real-time analytics, expense management, and ERP/HRMS integrations and service excellence, comprising dedicated relationship managers, a 24/7 human concierge, and active hotel supply management (Source: 1Lattice Report).
This combination results in deep operational integration with enterprise clients, supporting a SaaS-like business model characterized by high customer stickiness and sustained GTV expansion over time.
For the six months ended September 30, 2025, the Company reported revenue from operations of Rs 400 crore and a net profit of Rs 32 crore. Revenue from operations increased from Rs 411 crore in Fiscal 2023 to Rs 716 crore in Fiscal 2025, reflecting strong growth.
Above views are of the author and not of the website kindly read disclaimer
