Striders Impex IPO...
20 Feb, 2026
Travelstack Tech IPO
TRAVELSTACK TECH LIMITED (formerly known as Casa2 Stays Private Limited) submitted its DRHP on December 17, 2025. Going ahead, the issue of the TRAVELSTACK TECH IPO is associated with the fresh issue of equity shares aggregating up to the ₹250 Crore IPO and the Offer for Sale (OFS) of up to 2.69 crore equity shares by promoter and investor selling shareholders. It is proposed to be listed on both the NSE and the BSE platforms.
The number of shares that are being issued during the TRAVELSTACK TECH IPO has a face value of ₹1 per share. The issue is a 100% book-built issue, and thus, the price and subscription closing dates shall be made public after a bidding process is carried out.
The Book Running Lead Managers for the TRAVELSTACK TECH IPO are Motilal Oswal Investment Advisors Limited, IIFL Capital Services Limited, and Nuvama Wealth Management Limited and the Registrar for dealing with allotment & refund is MUFGL Intime India Private Limited.
Company Background
Travelstack Tech started its operation on April 2, 2014, as Casa2 Stays Private Limited. Later, due to the expansion of its services and future outlook, it changed its name to Travelstack Tech Private Limited in August 2025. Finally, after turning into a public company, it has reached a milestone with the TRAVELSTACK TECH IPO.
Operations & Product Range
Travelstack Tech has entered into corporate travel management on a technology basis through its TravelPlus platform, offering automated workflows for booking, invoicing, and policy compliance. Its suite of offerings includes private-label economy accommodation under the FabHotels brand and full-service travel products such as flights and ground transportation, among others, to large enterprise customers via TRAVELSTACK TECH IPO.
Revenue Streams and Business Model
The business model of Travelstack Tech revolves around its automated travel management platform, which generates revenue primarily through transaction-based fees and service charges from corporate clients.The company aims to drive margin expansion by migrating manual corporate travel rosters to its automated platform.
Management & Shareholding
Promoters & Shareholding
The promoters of the company are Vaibhav Aggarwal and Adarssh Mnpuria. Both promoters are also participating as selling shareholders in the TRAVELSTACK TECH IPO. Other major selling shareholders in the TRAVELSTACK TECH IPO include institutional investors like Accel India IV (Mauritius) Ltd., Qualcomm Asia Pacific Pte. Ltd., and Panthera Growth Fund.
Board & Key Management
The leadership team is headed by Executive Directors Vaibhav Aggarwal and Adarssh Mnpuria. Bharat Sachdev serves as the Company Secretary and Compliance Officer, ensuring regulatory adherence for the TRAVELSTACK TECH IPO.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Travelstack Tech IPO GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Travelstack Tech IPO Details
| Detail | Description |
|---|---|
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹1 per Equity Share |
| Issue Price Band | [.] |
| Lot Size | [.] |
| Sale Type | Fresh Issue and Offer for Sale (OFS) |
| Total Issue Size | [.] |
| Fresh Issue(Ex Market Maker) | [.] shares (agg. up to ₹250 Cr) |
| Offer for Sale | 2,68,52,969 shares of ₹1 (agg. up to ₹[.] Cr) |
| Issue Type | 100% Book Built Offer |
| Listing At | BSE and NSE |
| Share Holding Pre Issue | 4,11,42,440 shares |
| Share Holding Post Issue | 14,16,96,635 shares |
Travelstack Tech IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | [.] |
| IPO Close Date | [.] |
| Tentative Allotment | [.] |
| Initiation of Refunds | [.] |
| Credit of Shares to Demat | [.] |
| Tentative Listing Date | [.] |
| Cut-off time for UPI mandate confirmation | 5:00 PM on the Bid/Offer Closing Date |
Travelstack Tech IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | [.] | ₹14,000 - ₹15,000 |
| Individual investors (Retail) (Max) | 13-14 | [.] | Up to ₹2,00,000 |
| S-HNI (Min) | 14-15 | [.] | Over ₹2,00,000 |
| S-HNI (Max) | 66-70 | [.] | Up to ₹10,00,000 |
| B-HNI (Min) | 71+ | [.] | Over ₹10,00,000 |
Travelstack Tech IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Promoter Holding Pre Issue | ~24.58% |
| Promoter Holding Post Issue | [.] |
Competitive Strength:
- • Largest hotels-focused corporate travel platform with deep hospitality expertise.
Travelstack Tech IPO Financial Information
| Period Ended | Assets | Total Income | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing | ||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| H1 FY 2025-26 | 208.73 | 404.32 | 32.16 | 172.89 | 165.54 | 47.81 | ||||||||||||||||||||||||||||||||||
| FY 2024-25 | 198.54 | 623.49 | (6.27) | 130.74 | 123.40 | 41.46 | ||||||||||||||||||||||||||||||||||
| FY 2023-24 | 172.93 | 464.29 | (114.07) | (572.81) | (573.82) | 16.27 | ||||||||||||||||||||||||||||||||||
| FY 2022-23 | 63.48 | 233.19 | (92.75) | (468.40) | (469.17) | 7.98 | ||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 18.60% (Annualized) |
| ROCE | [.] |
| Debt/Equity | 0.28 |
| PAT Margin | 7.95% |
| EBITDA Margin | 1.36% |
| Price to Book Value | [.] |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | ₹(1.02) (Restated Basic/Diluted) | [.] |
| P/E (x) | [.] | [.] |
IPO Objectives
The proceeds from the TRAVELSTACK TECH IPO fresh issue are intended to be used for several strategic purposes:
- • Repayment or prepayment, in full or part, of certain borrowings availed by the company.
- • Meeting general corporate purposes to support overall business expansion.
- • Investment in technology and data science to improve the existing AI of the platform.
- • Investment of funds for strategic inorganic growth by acquisition.
Conclusion
The TRAVELSTACK TECH IPO is a milestone in the journey of the travel technology company in Delhi, as it attempts to organize the unorganized corporate travel segment in the country and further adopt technology in the segment. The company proposes to utilize the issue of capital and the sale of shares as a way of developing its technology infrastructure and scaling up operations. The TRAVELSTACK TECH IPO investors will be contributing to the technological company that is transitioning from a private to a publicly listed entity in the developing corporate travel space.
IPO DRHP Status
| # | Description | Date | File |
|---|---|---|---|
| 1 | Filed with SEBI/Exchange | 17-12-2025 | - |
| 2 | SEBI/Exchange approval received | - | - |
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Frequently Asked Questions (FAQs)
-
What is the market size for the TRAVELSTACK TECH IPO?
With regard to TRAVELSTACK TECH IPO, it is a Fresh Issue worth ₹250 Crore and an Offer for Sale up to 2.69 crore equity shares.
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Who are the promoters of the company?
The promoters of this company are Vaibhav Aggarwal and Adarssh Mnpuria.
-
Who are Lead Managers & Registrars for TRAVELSTACK TECH IPO?
BRLMs include Motilal Oswal, IIFL Capital, and Nuvama Wealth Management Limited, whereas the Registrar is MUFG Intime India.
-
What is the face value of the shares?
The equity shares have a face value of ₹1 each.
-
Where is the head office located?
The corporate office is in Gurgaon, Haryana, while the registered office is in Saket, Delhi.
