New IPO Alert: Travelstack Tech files DRHP with SEBI to raise funds via public offer; check details

Travelstack Tech IPO: Travel technology company Travelstack Tech has filed a draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering.

According to the preliminary papers, the proposed IPO consists of new equity shares valued at ₹250 crore and an offer for sale (OFS) of 26,852,969 equity shares.

As part of the OFS, promoters Vaibhav Aggarwal and Adarssh Mnpuria and investors Anupam Mittal, Global Private Opportunities Partners II LP, Accel India IV (Mauritius) Ltd, Global Private Opportunities Partners II Offshore Holdings LP, Panthera Growth II, Panthera Growth Fund II VCC, PGP India Growth Fund I, Qualcomm Asia Pacific Pte Ltd and XTO10X Mauritius will divest their stake.

The money generated will be used to meet working capital needs, debt repayment and corporate general purposes. Additionally, the company expects to get the benefits of the listing of shares on the NSE and the BSE and the creation of a public market for equity shares in India.

Motilal Oswal Investment Advisor, Nuvama Wealth Management and IIFL Capital Services are the initial share sale's book-running lead managers, while MUFG Intime India is the registrar.

About the company

Travelstack Tech operates TravelPlus, the largest hotel-focused corporate travel management platform in India for enterprise clients, in terms of revenue in the financial year 2024-25.

During the first half of FY26, TravelPlus served 474 enterprise clients, including more than 100 NSE-listed companies and over 50 multinational corporations.

Its customers include Eternal (including Blinkit and others), Astral, Emcure Pharmaceuticals, Comviva, Jyothy Labs, ABInBev, NIIT, Tata Projects, Titan Company, Shalimar Paints, Zepto and Ujjivan Small Finance Bank through a managed marketplace of over 25,000 active hotels in India, across premium and economy segments.

The company's platform allows employees and travel desks of enterprises to book travel, handle approvals, process expenses and receive support throughout the travel lifecycle.