PNN
Kolkata (West Bengal) [India], August 29: Travels & Rentals Limited, a leading provider of comprehensive travel solutions, is pleased to announce the launch of its Initial Public Offering (IPO) on August 29, 2024. The IPO is expected to raise Rs1,224.00 Lakhs through the issuance of 30,60,000 equity shares at a fixed price of Rs40 per share. The offering will close on September 2, 2024, and the shares are scheduled to be listed on the SME platform of BSE Limited on September 5, 2024. The ISSUE is Lead Managed by Finshore Management Services Ltd.
Travels & Rentals Limited, established in 1996, has grown into a significant player in the travel and tourism industry, offering a wide range of services including domestic and international air ticketing, hotel reservations, customized tour packages, and ancillary services such as travel insurance, passport, and visa processing. The company has been a franchisee of Lufthansa City Center International GmbH since 2010, further strengthening its position in the market.
The proceeds from the IPO will be utilized for working capital requirements, general corporate expenses, and issue-related expenses. This strategic move will enable Travels & Rentals Limited to capitalize on emerging opportunities in the rapidly growing travel sector in India and beyond.
Devendra Bharat Parekh, Managing Director of Travels & Rentals Limited, commented on the IPO launch, stating, "This IPO marks a significant milestone in our company's journey. Over the years, we have established a strong foundation and a robust portfolio of services that cater to the evolving needs of travelers. The funds raised through this offering will help us expand our capabilities, enhance our service offerings, and further solidify our position as a trusted name in the travel industry. We are excited about the opportunities that lie ahead and are committed to delivering long-term value to our stakeholders."
The company's financial performance has shown impressive growth with a revenue increase from Rs290.59 Lakhs in 2022 to Rs803.54 Lakhs in 2024, reflecting the strong demand for its services. The IPO presents an opportunity for investors to be part of this growth story and benefit from the expanding travel market in India.
About Travels & Rentals Limited:
Travels & Rentals Limited is a Kolkata-based company offering end-to-end travel solutions, including air ticketing, hotel reservations, and customized tour packages. With over 25 years of experience, the company has built a reputation for providing personalized travel services, backed by strong industry partnerships such as its long-standing relationship with Lufthansa City Center International GmbH.
For further details, please visit www.travelsandrentals.in
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