Travels & Rentals Limited has announced its Initial Public Offering (IPO) set to begin on August 29, 2024. The IPO aims to raise ₹1,224 lakhs by issuing 30,60,000 equity shares at a price of ₹40 each. The offering will close on September 2, 2024, with shares expected to debut on the SME platform of BSE Limited on September 5, 2024. Finshore Management Services Ltd. is leading the issue.
Established in 1996, Travels & Rentals Limited has established itself as a key player in the travel and tourism industry, offering services including air ticketing, hotel reservations, and customized tours. Since 2010, it has been a franchisee of Lufthansa City Center International GmbH, enhancing its market presence.
The funds from this IPO will support working capital needs, general corporate expenses, and issue-related costs. Managing Director Mr. Devendra Bharat Parekh emphasized, “This IPO represents a major milestone for us. It will allow us to expand our services and strengthen our market position.” The company’s revenue has surged from ₹290.59 lakhs in 2022 to ₹803.54 lakhs in 2024, highlighting its robust growth and the potential for future expansion.
