Imagine a platform that makes corporate travel management a breeze for enterprises. Travelstack Tech, the company behind TravelPlus, is now taking a significant step towards expansion by filing its Draft Red Herring Prospectus (DRHP) to raise funds through an Initial Public Offering (IPO). This move is set to raise ₹250 crore, with the potential to impact both investors and the travel industry at large.
The company plans to use the proceeds from its fresh issuance worth ₹135 crore to partly fund the working capital requirements, ₹45 crore for repayment and/or prepayment of certain borrowings, and for general corporate purposes. The issue is being made through the book-building process, with up to 75% reserved for Qualified Institutional Buyers (QIBs), not less than 15% for Non-Institutional Investors (NIIs), and at least 10% for Retail Individual Investors (RIIs).
Travelstack Tech, formerly known as Casa2 Stays, operates TravelPlus, a hotel-focused corporate travel management platform designed for enterprise clients. The platform enables employees and travel desks of enterprises to book travel, manage approvals, process expenses, and receive comprehensive support throughout the travel lifecycle. This helps enterprises optimize travel spending, improve policy compliance, and drive convenience for all stakeholders.
Remember, this is a perspective on the company's IPO, not a prediction of its performance. Investors should do their own research and consider consulting with certified experts before making any investment decisions. The travel management sector, particularly corporate travel, is seeing significant growth, and Travelstack Tech's IPO could be an interesting opportunity for those looking to invest in this space.
The IPO is being managed by Motilal Oswal Investment Advisors Ltd, IIFL Capital Services Ltd, and Nuvama Wealth Management Ltd, with MUFG Intime India Private Limited as the registrar. The shares are proposed to be listed on the BSE and NSE.
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