New IPOs Alert: Travelstack Tech, Learnfluence, Tea Post get SEBI nod to launch public issues; 3 issues withdrawn

New IPOs Alert: Capital markets regulator Securities and Exchange Board of India (SEBI) has approved initial public offerings of travel technology firm Travelstack Tech, tea cafe chain Tea Post and 'Lakshya' coaching centres operator Learnfluence Education.

In SEBI's language, receiving an observation means the regulator's approval to launch an IPO.

Three companies, namely Madhur Iron & Steel, Arjun Jewellers and Rays Power Infra, withdrew or returned their IPO documents during March 9-13, as per an update from the market regulator on Monday.

Travelstack Tech IPO

The proposed initial share sale is a mix of new shares valued at ₹250 crore and an offer for sale (OFS) of 2.68 crore shares by promoters and other shareholders, as per the draft red herring prospectus (DRHP).

The money raised will be utilised for working capital needs, debt clearance and general corporate purposes.

Travelstack Tech runs TravelPlus, the largest hotel-focused domestic corporate travel management platform for enterprise clients, in terms of revenue in the fiscal year 2025.

Learnfluence Education IPO

The proposed IPO of Learnfluence Education will be a combination of a fresh issue totalling ₹246 crore and an OFS of up to 40 lakh equity shares.

The funds generated will be used for establishing new physical campuses, debt repayment, sales and marketing initiatives, and lease payments for existing identified long-term campuses.

It manages and operates a network of digitally enabled coaching centres specialised in providing finance- and commerce-related coaching to students, graduates and working professionals under the brand name “Lakshya”.

Tea Post IPO

Tea Post's proposed issue comprises a fresh issuance of up to 1.43 crore equity shares and an OFS of up to 1.43 crore equity shares.

The proceeds will be used to set up and open new company-operated tea cafés and corporate general purposes.

Tea Post is an organised tea café chain operating under the Indian quick service restaurant (QSR) segment, serving tea and other beverages along with snacks. It is the largest player in the organised tea café market in Gujarat, on the basis of store count.