Travels & Rentals
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 29 Aug 2024 – 02 Sep 2024
- Listing date
- 05 Sep 2024
- Face value
- ₹10 per share
- Issue price
- ₹40 per share
- Lot size
- 3,000 shares
- Issue type
- Fixed Price issue
- Total issue size
- ₹12.24 Cr
- Market cap at offer price
- ₹44.81 Cr
- Promoter holding
- 86.48% → 62.86% pre-issue → post-issue
- ISIN
- INE0SG001011
- Registrar
- Cameo Corporate Services Ltd.
- Lead managers
- Finshore Management Services Ltd.
- Registered office
- 161, Lenin Sarani, Dharmatala, West Bengal
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Market maker | 1,53,000 | — | — |
Application size
Minimum 3,000 shares per lot, in multiples, at ₹40
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 3,000 | ₹1,20,000 |
| S-HNI (min) | 2 | 6,000 | ₹2,40,000 |
| S-HNI (max) | 8 | 24,000 | ₹9,60,000 |
| B-HNI (min) | 9 | 27,000 | ₹10,80,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 3.64 | 2.65 |
| P/E (×) | 10.99 | 15.09 |
| Price to book (×) | 2.20 | — |
| Market cap | — | ₹44.81 Cr |
Key performance indicators
- Return on net worth
- 20.06%
- ROCE
- 27.54%
- Debt / equity
- 0.32
- PAT margin
- 36.91%
- NAV per share
- ₹18.16
- Price to book
- 2.20
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Travels & Rentals
Travels & Rentals Limited (formerly Travels & Rentals Private Limited) traces its origins to a partnership firm 'M/s. Travels & Rentals' commenced in 1990 by founding promoter Mr. Devendra Bharat Parekh; the running business was taken over by Travels & Rentals Private Limited, incorporated on September 23, 1996 in Kolkata, which was converted into a public limited company on April 05, 2024 ahead of this IPO. The company offers a comprehensive range of travel-related products and services for end-to-end travel solutions — domestic and international airline tickets, worldwide hotel reservations, inbound and outbound customised tour packages, and ancillary value-added services such as travel insurance, passport & visa processing and tickets for activities and attractions. It has held a franchisee of Lufthansa City Center International GmbH (LCCI) since 2010 and rights to operate under 'Business Plus Lufthansa City Center' in India since 2013, and in 2024 entered into a Sales and Marketing Agreement with Group Voyagers Inc. (Globus family of brands) for sale of Globus travel products in India; it is accredited by IATA, recognised by the Ministry of Tourism, Government of India, and is a member of TAAI and IATO. It makes money through commissions and incentives on airline tickets booked through it, commissions from hotel suppliers, and sales of tour packages and ancillary services, with revenue reported on a net basis (gross turnover less direct expenses related to turnover). For the nine months ended December 31, 2023, revenue from operations was ₹547.02 lakhs with PAT of ₹225.53 lakhs (FY2023: ₹567.05 lakhs revenue and ₹150.64 lakhs PAT), and the company had 58 employees as of March 31, 2024.
Company Analysis
from DRHPTravels & Rentals Limited is a Kolkata-headquartered travel agency offering end-to-end travel solutions — domestic and international air ticketing, worldwide hotel reservations, inbound/outbound tour packages, rail tickets and ancillary services such as travel insurance and passport & visa processing — operating in India as a Lufthansa City Center franchisee.
Travels & Rentals Limited (formerly Travels & Rentals Private Limited) traces its origins to a partnership firm 'M/s. Travels & Rentals' commenced in 1990 by founding promoter Mr. Devendra Bharat Parekh; the running business was taken over by Travels & Rentals Private Limited, incorporated on September 23, 1996 in Kolkata, which was converted into a public limited company on April 05, 2024 ahead of this IPO. The company offers a comprehensive range of travel-related products and services for end-to-end travel solutions — domestic and international airline tickets, worldwide hotel reservations, inbound and outbound customised tour packages, and ancillary value-added services such as travel insurance, passport & visa processing and tickets for activities and attractions. It has held a franchisee of Lufthansa City Center International GmbH (LCCI) since 2010 and rights to operate under 'Business Plus Lufthansa City Center' in India since 2013, and in 2024 entered into a Sales and Marketing Agreement with Group Voyagers Inc. (Globus family of brands) for sale of Globus travel products in India; it is accredited by IATA, recognised by the Ministry of Tourism, Government of India, and is a member of TAAI and IATO. It makes money through commissions and incentives on airline tickets booked through it, commissions from hotel suppliers, and sales of tour packages and ancillary services, with revenue reported on a net basis (gross turnover less direct expenses related to turnover). For the nine months ended December 31, 2023, revenue from operations was ₹547.02 lakhs with PAT of ₹225.53 lakhs (FY2023: ₹567.05 lakhs revenue and ₹150.64 lakhs PAT), and the company had 58 employees as of March 31, 2024.
Objects of the Issue
- Funding incremental working capital requirements ₹ 803.30 Lakhs p.72
- Meeting Issue Related Expenses ₹ 170.70 Lakhs p.74
- General Corporate Purposes ₹ 250.00 Lakhs p.74
Issue Structure
- Total Issue
- 30,60,000 Equity Shares aggregating to ₹ 1,224.00 Lakhs
- Fresh Issue
- 30,60,000 Equity Shares aggregating to ₹ 1,224.00 Lakhs (entire issue is a fresh issue)
- Offer for Sale
- Nil
- Price Band
- ₹40/- per Equity Share (100% Fixed Price Issue)
- Lot Size
- 3,000 Equity Shares (minimum lot size)
- Face Value
- ₹10/- each
Business Model
Earns commissions and incentives on domestic and international airline tickets booked by customers through the company ('We earn from the airline tickets booked by the customers through us in the form of commissions and incentives'), receives commissions from hotel suppliers on reservations ('we receive commissions from our hotel suppliers on a periodic basis or before/ after the customer checks out'), and generates revenue from packaged tours and ancillary services such as travel insurance and passport & visa assistance; revenue from operations is reported on a net basis, i.e., gross turnover less direct expenses related to turnover.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Devendra Bharat Parekh | Promoter & Managing Director | 41.33% | 30.04% |
| Karuna Parekh | Promoter | 29.13% | 21.17% |
| Bharat Jagmohan Parekh | Promoter Group | 4.49% | 3.26% |
| Nitarra Parekh | Promoter Group | 2.32% | 1.69% |
| Ergoflex (I) Private Limited | Promoter Group | 5.53% | 4.02% |
| Anupama Singhi | Promoter Group | 3.63% | 2.64% |
| Tushar Singhi | Promoter Group | 0.04% | 0.03% |
Leadership
Auto-extracted from the company's DRHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official DRHP before relying on it.