Travels & Rentals IPO share allotment likely on September 3: Steps to check status on BSE, Cameo Corporate Services

Travel services provider Travels & Rentals Limited is expected to announce the share allotment status for its initial public offering (IPO) on Tuesday, September 3. The Kolkata-based travel products and services provider’s IPO was open for subscription from August 29 to September 2.

Travels & Rentals Limited IPO, a fixed price issue received a robust response from retail and non-institutional investors with total bids exceeding 608 times the number of shares on offer. After the bumper subscription, Travels & Rentals Limited IPO share allotment status is expected to be finalised on September 3.

The company is expected to start refunds and initiate credit of shares to the Demat accounts on September 4. Travels & Rentals has proposed to list shares on BSE SME platform on September 5.

The investors awaiting the finalisation of the share allotment can easily check the status on the official website of IPO registrar and the BSE.

Steps to check Travels & Rentals IPO share allotment status on the registrar’s website:

• Open the website of Cameo Corporate Services Limited (https://cambridge.cameoindia.com/)
• Click on the ‘Useful Links’ tab on the main menu and select ‘IPO status’
• Select Travels & Rentals from the Dropdown list for company names (Name will appear after the company will finalise the status of allotment)
• Enter PAN or Application Number
• Enter Captcha
• Click Submit to check the status

How to check Travels & Rentals IPO share allotment on BSE

• Step 1. Open BSE website (https://www.bseindia.com)
• Select Investor Relations and go to ‘public issues’
• Click on Application Status (https://www.bseindia.com/investors/appli_check.aspx)
• Select Travels & Rentals
• Enter PAN details or application number
• Click on ‘Submit’ to check details

Travels & Rentals IPO details

The ₹12.24-crore public offer of Travels & Rentals was a fresh issue of 30.6 lakh shares. The IPO price was fixed at ₹40 per share. The minimum lot size was 3,000 shares and the minimum amount of investment was ₹1,20,000 for retail investors.

At the close of bidding on Monday, September 2, the Travels & Rentals IPO was booked 608.46 times. Applications for 176.87 crore shares worth ₹7,075.12 crore were received against 29,07,000 shares on offer.

Retail Investors’ portion was booked over 429 times. Bids for 62.48 crore shares were received against 14,53,500 shares on offer. The Non-Institutional Investors (NIIs) placed bids for 109.68 crore shares against 14.53 lakh shares on offer. The quota was booked nearly 755 times.

About Travels & Rentals Limited

Kolkata-based Travels & Rentals offers a range of travel-related products and services. It offers airline tickets, tour packages, rail tickets, hotels, as well as additional services like travel insurance, passport & visa processing, and tickets for activities and attractions.

According to Travels & Rentals RHP, the company intends to meet its working capital requirements to the extent of ₹ 803.30 lakh from the Net Proceeds of the IPO. The working capital needs, as assessed based on the internal workings of the company are ₹ 2,857.29 Lakhs in FY 2024-25.

The company will also utilise IPO proceeds for other general corporate purposes such as Strategic initiatives, partnerships, joint ventures and acquisitions, brand building, strengthening of promotional and marketing activities, and advisory services.