UHM Vacation Ltd IPO
Miscellaneous
Price Band
₹157 – ₹166
Lot Size
800
Minimum Bid Quantity
1600
Minimum Investment
₹265600
Issue Size
₹36.02Cr
Opens
2026-06-04
Closes
2026-06-08
Listing
11-06-2026
Subscription Status
Qualified Institutional Buyers
1 x
Non-Institutional Investor
0.84 x
Retail Individual Investor
3.49 x
Total
2.1 x
IPO Details
Issue Type
EQUITY
Face Value
₹10
Tick Size
1
ISIN
INE0YZ901011
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
UHM Vacation Limited is engaged in the business of travel and tourism aggregation services, primarily catering to the business-to-business (B2B) segment. The company sources and aggregates travel services from airlines, hotels, cruise operators, car rental providers, visa facilitators, and other travel service providers and offers them through a single platform to travel agencies, corporate travel managers, and independent travel agents. Its service portfolio includes domestic and international air ticket bookings, accommodation bookings, holiday packages, tours and activities, transfer management, car rentals, visa assistance, and cruise bookings. UHM Vacation operates through a technology platform that enables users to search, compare, and book multiple travel services through an integrated interface while allowing service providers to manage pricing and availability. The company follows an asset-light aggregation model and connects travel buyers with a network of travel service providers through its platform.
Pros
- • The company operates a travel and tourism aggregation platform that combines multiple services, including air ticketing, accommodation bookings, visa assistance, cruise bookings, holiday packages, tours and activities, transfer management, and car rentals. This allows travel agents and corporate travel managers to access a wide range of travel products through a single interface instead of managing relationships with multiple service providers.
- • The company claims to provide access to a network of global and regional travel service providers across different categories, including airlines, hotels, cruise operators, and transportation providers. This aggregation model enables it to offer a variety of travel options, including apartment and villa bookings, customised holiday packages, and group travel solutions.
- • The company has established a presence across several Gulf Cooperation Council (GCC) markets, including the United Arab Emirates, Saudi Arabia, Qatar, Kuwait, Oman, and Bahrain. These markets are among the key destinations for Indian outbound travellers and provide the company with exposure to both leisure and pilgrimage travel segments.
Cons
- • The top 10 customers contributed Rs 19.80 crore (49.33%), Rs 7.87 crore (25.70%), and Rs 14.34 crore (70.16%) to the company’s revenue from operations in FY25, FY24, and FY23, respectively. Any failure to retain these key customers, renew existing business arrangements, or generate additional business from them could adversely affect the company’s business, financial condition, and cash flows.
- • The company’s revenue is heavily concentrated in accommodation and other travel and tourism ancillary services, which contributed Rs 38.13 crore (94.99%), Rs 28.66 crore (93.63%), and Rs 18.77 crore (91.81%) of total revenue in FY25, FY24, and FY23, respectively. Any decline in demand for these services, changes in customer preferences, increased competition, or the company’s inability to maintain growth in this segment could adversely affect its business, financial condition, and results of operations.
- • The company derives a significant portion of its revenue from Gulf Cooperation Council (GCC) countries, particularly Dubai. Revenue from international markets contributed Rs 27.95 crore (69.62%), Rs 19.08 crore (62.48%), and Rs 11.53 crore (56.40%) of total revenue in FY25, FY24, and FY23, respectively, with Dubai alone accounting for the majority of this revenue. Any adverse economic, political, regulatory, or social developments in the GCC region, or a decline in travel demand from these markets, could adversely affect the company’s business, financial condition, and results of operations.
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