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Travelstack Tech files draft papers with SEBI for Rs 250 crore fresh IPO issue
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Promoters and investors plan to sell 26.85 million shares via offer for sale
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Proceeds will fund working capital, debt repayment, and general corporate needs
Travel technology firm Travelstack Tech has filed draft 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 and an offer for sale (OFS) of 26,852,969 shares by promoters and existing investors.
Promoters Vaibhav Aggarwal and Adarssh Mnpuria, along with shareholders such as Accel India IV (Mauritius) Ltd, Global Private Opportunities Private Partners II LP, Panthera Growth Fund II VCC, Qualcomm Asia Pacific Pte. Ltd, and XTO10X Mauritius Pte. Ltd, will participate in the OFS, according to the draft red herring prospectus (DRHP) filed on Wednesday.
Of the Rs 250 crore fresh issue proceeds, Rs 135 crore will go toward working capital, Rs 45 crore for debt repayment, and the remainder for general corporate purposes. The company may also consider a pre-IPO placement of up to Rs 50 crore, which would reduce the fresh issue size accordingly.
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.
For the six months ended September 30, 2025, the company reported Rs 400 crore in revenue and Rs 32 crore net profit.
Motilal Oswal Investment Advisors, IIFL Capital Services, and Nuvama Wealth Management are the book-running lead managers, while MUFG Intime India is the registrar to the issue.
(With inputs from PTI)
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