Travels & Rentals IPO: Key Highlights of Upcoming IPO

• Travels & Rentals IPO is a book-built issue worth up to Rs 12.24 crores.
• Bidding opens on August 29 and closes on September 2, 2024.
• Travels & Rentals SME IPO price set at Rs 40 per share.
• The minimum amount required for retail investors is Rs 1,20,000.

Travels & Rentals IPO: Synopsis

Travels & Rentals is open for subscription from   Thursday, August 29, 2024, and closes on Monday, September 2, 2024. The price for this IPO is set at Rs 40 per share.

Travels & Rentals IPO is offering entirely a fresh issue of 30.60 lakh of equity shares. The allotment for this new IPO is expected to be finalised on Tuesday, September 3, 2024. The listing of this IPO will be done on Thursday, September 5, 2024, at the BSE SME segment.

The minimum lot size set for the retail category is 1 lot, i.e., 3000 shares. For retail investors, the minimum and maximum investment amount required is Rs 120,000. However, for the HNI category, the minimum lot size is 2 lots, i.e., 6000 shares amounting to Rs 240,000.

The IPO is managed by Finshore Management Services Limited, which is the book-running lead manager of this public issue. The company has appointed Cameo Corporate Services Limited as the registrar for the issue.

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Travels & Rentals Limited: About the Company

Travels & Rentals Limited, incorporated in 1996, is a private limited company specialising in providing travel-related products and services of the widest variety with complete travel solutions. The company provides airline ticketing- domestic and international all airways, customised packaged tours inbound and outbound, hotel bookings around the world, and other specialised services like visas, passports, travel insurance, and tickets for activities and attractions.

This company, approved by the International Air Transport Association (IATA) and recognised by the Ministry of Tourism, Government of India, has its travel agents in a good number across Europe, the USA, South and South-East Asia, the Middle East, African continent, and Australia. Again, Travels & Rentals Limited is a member of the Travel Agent Association of India (TAAI) and the Indian Association of Tour Operators (IATO).

Travels & Rentals IPO: Objectives

The company intends to utilise the funding raised by the public issue for working capital requirements and for general corporate purposes.

Travels & Rentals IPO: Other Important Details

Time Table of Travels & Rentals IPO

Travels & Rentals IPO: Financial Metrics (Amt in Rs Lakhs)

Minimum Investment: Lot Size Details

Promoters of Travels & Rentals Limited and Their Holdings

The company's promoters are Mr. Devendra Bharat Parekh, Mrs. Karuna Parekh, Mrs. Anupama Singhi, and Mr. Tushar Singhi. The promoter(s) collectively held 86.48% of the company's shares. However, post-IPO, their combined shareholding will be 62.86%.

FAQs

1.       What are the core details available for the Travels & Rentals IPO?

Travels & Rentals IPO is a Book-built public issue of 30.60 lakh equity shares. This upcoming IPO is offering entirely a fresh issue of 30.60 lakh equity shares worth up to Rs 12.24 crores. The allotment for this new IPO is expected to be finalised on Tuesday, September 3, 2024.

2.       How can I apply for the Travels & Rentals IPO?

The public subscription of this new IPO opens on August 29 and closes on September 2, 2024. Click here to initiate the application process.

3.       Who is the lead manager(s) for the Travels & Rentals IPO?

Finshore Management Services Limited was appointed as the book-running lead manager for the IPO.

4.       Who is appointed as the registrar for this IPO?

Cameo Corporate Services Limited has been appointed as the registrar for this public issue.

5.       How will the net proceeds from the IPO be utilised?

The company intends to utilise the funding raised by the public issue for working capital requirements and for general corporate purposes.

6.       How can I check the allotment status of the IPO?

Investors who applied for an IPO can check the allotment status of the Travels & Rentals IPO by visiting here, for further updates, follow Bigul.

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