Travelstack Tech files IPO papers with Sebi; eyes Rs 250-cr via fresh issue

New Delhi, Dec 18 (PTI) Travel technology firm Travelstack Tech has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO) comprising a fresh issue of shares worth Rs 250 crore.

Apart from fresh issues, there will be an offer for sale (OFS) of 26,852,969 shares by promoters -- Vaibhav Aggarwal and Adarssh Mnpuria -- and other shareholders, according to the draft red herring prospectus (DRHP) filed on Wednesday.

Other selling shareholders include Accel India IV (Mauritius) Ltd, Global Private Opportunities Private Partners II LP, Global Private Opportunities Partners II Offshore Holdings LP, Panthera Growth Fund II VCC, PGP India Growth Fund I, Panthera Growth II, Qualcomm Asia Pacific Pte. Ltd, and XTO10X Mauritius Pte. Ltd.

Of the Rs 250 crore proceeds, Rs 135 crore will be utilised for the company's working capital requirements, Rs 45 crore for payment of debt and the rest for general corporate purposes.

The city-based Travelstack Tech may pursue a pre-IPO placement of up to Rs 50 crore, which, if undertaken, would accordingly adjust the fresh issue size.

Travelstack Tech, earlier known as Casa2 Stays, operates TravelPlus. Its platform enables employees and travel desks of enterprises to book travel, manage approvals, process expenses, and receive comprehensive support throughout the travel lifecycle – helping enterprises optimise travel spends, improve policy compliance, and drive convenience for all stakeholders.

On the financial front, its revenue from operations for the six months ended September 30, 2025 was Rs 400 crore and net profit at Rs 32 crore.

Motilal Oswal Investment Advisors, IIFL Capital Services and Nuvama Wealth Management are the book-running lead managers, and MUFG Intime India is the registrar to the issue. PTI SP SP MR