IPO · Commerce & Consumer Brands
Travelstack Tech files for initial public offering
By Startup Enthusiast ·
- Date
- Company
- Travelstack Tech
- What it does
- Travel and hospitality technology services
- Kind
- IPO
- Amount
- ₹250 Cr
- Stage
- ipo
- Based in
- Mumbai
What they do
Travelstack Tech provides travel and hospitality technology solutions to customers and was formerly known as Casa2 Stays Private Limited
What happened
The company filed for an IPO (initial public offering; the first sale of shares to the public) comprising a fresh issue of up to Rs.250 crore and an offer…
Why it matters
The offering includes a secondary sale (existing shareholders selling shares; no new money reaches the company) of over 26 million shares
The details
- Travelstack Tech has filed for an IPO to raise up to ₹250 crore through a fresh issue of shares.
- The offer includes a secondary sale of up to 5,373,135 shares by promoter shareholders.
- Investor shareholders will also sell up to 21,479,834 shares as part of the offer for sale, while promoter selling shareholders will sell up to 5,373,135 shares.
- The company may conduct a pre-IPO placement of up to ₹50 crore before the main public issue.
- Proceeds from the fresh issue will fund working capital requirements and the repayment of company borrowings.
- The company plans to list its shares on the NSE (National Stock Exchange).
The bigger picture
- The shares have a face value of Re.1 per share.
- Eligible employees will receive a reservation portion and a discount on the final offer price.
About the business
- Travelstack Tech operates in the travel and hospitality technology sector.
- The company maintains its registered office at 247 Park in Vikhroli West, Mumbai.
- It provides digital solutions to support travel and stay-related services.
- The business model focuses on scaling operations through technology-driven hospitality management.
- The company is transitioning to public markets to support its growth and capital requirements.
What happens next
- The company intends to use funds for general corporate purposes.
- Management plans to reduce debt through the repayment or prepayment of existing borrowings.
The deal
- Type
- ipo
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