TSC India Ltd: Will This Travel IPO Take Off or Get Delayed at the Terminal?
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1. At a Glance
TSC India is boarding the SME IPO runway with a ₹25.89 Cr fully fresh issue. It runs a B2B air ticketing platform booking 12,000 tickets a month for corporates and travel agents. With a high-margin model and solid anchor response, the real question is—will listing blues hit hard, or is this flight clear for takeoff?
2. Introduction with Hook
Imagine a travel agency that doesn’t sell dreams to tourists but powers the back-end of a thousand others, quietly issuing flight tickets like an unsung airline wizard. That’s TSC India for you.
12,000 flight bookings/month
FY25 PAT up to ₹4.93 Cr from ₹4.72 Cr YoY
Anchor raised ₹7.35 Cr before takeoff
But the ₹2.80 lakh retail ticket price? That’s first-class seat territory.
3. Business Model (WTF Do They Even Do?)
TSC India Limited is strictly B2B. No holiday packages or honeymoon in Manali fluff. They issue air tickets, manage travel schedules, and optimize corporate itineraries.
Core offerings include:
Air ticket booking via GDS
Emergency 24/7 assistance
Real-time flight & hotel tracking
Data-based travel analytics
Cost negotiation for corporates
Integrated platform with flight, hotel, cab booking
They serve 2,100+ clients from hubs like Delhi, Chandigarh, Ahmedabad, and Pune.
