About Company’s Business:
Their company stands as India’s foremost corporate travel services provider, boasting the highest count of corporate clients in the industry. Furthermore, it ranks as the third-largest online travel company in India among the prominent online travel agency (OTA) players, based on both gross booking revenue and operating revenue for Fiscal Year 2023, as confirmed by a CRISIL Report. Remarkably, they hold the distinction of having the largest number of hotel and accommodation partnerships among major domestic OTA players, with an impressive tally of over 2,105,600 tie-ups as of March 31, 2023, according to the same CRISIL Report.
About the Industry:
The Indian travel industry is poised for substantial growth, with an anticipated compound annual growth rate (CAGR) of 9-11%. By fiscal 2028, it is expected to reach a market size ranging from â‚ą4,540 billion to â‚ą4,560 billion, a significant increase from its fiscal 2023 valuation of â‚ą2,825 billion to â‚ą2,845 billion. This growth is attributed to several factors, including the expansion of tourism infrastructure, higher income levels leading to increased discretionary spending on travel and tourism, and a surge in both business and leisure travel frequency. Furthermore, the online segment of the travel industry is projected to witness substantial penetration, reaching a market share of 73-75%. Consequently, the online travel market in India is estimated to expand to a range of Rs 3,335 billion to Rs 3,355 billion by fiscal 2028, up from Rs 1,900 billion to Rs 1,920 billion in fiscal 2023, equating to an impressive 11.5-12.5% CAGR. Within the online travel market, the proportion occupied by Online Travel Agencies (OTAs) is expected to grow at a faster pace compared to captive players, as per findings from the CRISIL Report.
Key Financial Information:
| Particulars | March 31, 2023 | March 31, 2022 | March 31, 2021 |
|---|---|---|---|
| (A) Equity Share Capital* | 114.52 | 111.89 | 110.90 |
| (B) Net Worth** | 1,695.23 | 1,009.28 | 1,234.86 |
| (C) Total Income | 3,974.65 | 2,188.10 | 1,436.16 |
| (D) Restated Profit/(Loss) | 76.32 | (307.86) | (1,188.63) |
| (E) Basic Earnings/(Loss) per Share (in â‚ą)# | 0.69 | (2.76) | (11.08) |
| (F) Diluted Earnings/(Loss) per Share (in â‚ą)# | 0.69 | (2.76) | (11.08) |
| (G) Net Asset Value per Share (in â‚ą)**** | 15.04 | 9.04 | 11.51 |
| (H) Borrowings*** | 1,530.74 | 358.58 | 131.11 |
Note: All values are in INR million, except per share data.
Objective of the Issue:
- Strategic investments, acquisitions and inorganic growth
- Investment in customer acquisition and retention, technology, and other organic growth initiatives
- General corporate purposes.
For more detailed information, you can refer to the IPO Prospectus (RHP) filed by the company.
| Important information regarding the IPO | |
|---|---|
| Open Date | Friday, September 15, 2023 |
| Close Date | Wednesday, September 20, 2023 |
| Issue Size | 806.21 Cr |
| Price | â‚ą135 to â‚ą142 per share |
| Lot Size | 105 Shares |
| Basis of Allotment | Monday, September 25, 2023 |
| Initiation of Refunds | Tuesday, September 26, 2023 |
| Credit of Shares to Demat | Wednesday, September 27, 2023 |
| Listing Date | Friday, September 29, 2023 |
Note that the dates are tentative and may be subject to change.
How to apply for this IPO?
You can locate the redirection link to the IPO on the home screen of the Dhan App. Alternatively, you can access it by navigating to the “Money” Section at the bottom right and swiping right to reach the “IPO” Tab.
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