Travelstack Tech Set for IPO: Aims to Raise Rs 250 Crore

Travelstack Tech, a travel technology firm, plans to raise Rs 250 crore through an IPO, featuring both fresh issue shares and an offer for sale by promoters and shareholders. The funds will support working capital, debt payment, and other corporate requirements.

Travelstack Tech, a prominent player in travel technology, is poised to go public as it files preliminary papers with Sebi for a Rs 250 crore initial public offering (IPO). The IPO will feature a fresh issue of shares and an extensive offer for sale by key promoters and several shareholders.

The draft red herring prospectus details that promoters Vaibhav Aggarwal and Adarssh Mnpuria, along with other shareholders, will offload 26,852,969 shares. Significant stakeholders such as Accel India IV, Panthera Growth Fund II, and Qualcomm Asia Pacific are among those participating in the offer for sale.

Fund allocation from the Rs 250 crore proceeds includes Rs 135 crore for working capital, Rs 45 crore for debt servicing, and the remaining for corporate purposes. Additionally, Travelstack Tech may consider a pre-IPO placement to raise up to Rs 50 crore. The firm's future goals include optimising enterprise travel management through its platform, TravelPlus.