朕天下娛樂城
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UHM Vacation Ltd IPO
UHM Vacation Ltd
?2,51,200 /1600 sharesMinimum investment
IPO listing details
Listed on
11 Jun '26
Issue price
?166.00
Listing price
?132.80
Listing gains
-?33.20 (20.00%)
Exchange
--
IPO details
Minimum investment
?2,51,200
Price range
?157 - ?166
Lot size
800
Issue size
36.02 Cr
Face value
10
IPO document
Subscription rate
Qualified Institutional Buyers1.00x
Non-Institutional Investor0.84x
Retail Individual Investor3.49x
Total2.10x
As of 08 Jun'26, 04:31 PM
Schedule
4 Jun 2026
IPO open date
8 Jun 2026
IPO close date
9 Jun 2026
Allotment date
9 Jun 2026
Funds unblock or debit
11 Jun 2026
Tentative listing date
About
Founded in
2009
MD/CEO
Mr Izhar Ahmad
Parent organisation
UHM Vacation Ltd
UHM Vacation Financials
Revenue
Total Assets
Profit
All values are in ? Cr
Strengths & Risks
Strengths
Risks
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.
The company claims to operate a technology-driven platform that provides real-time availability, instant booking confirmations, and integrated booking management. The platform is designed for travel agencies, resellers, corporate travel managers, and independent travel agents, enabling them to compare and book multiple travel services from a single system.
The company follows an asset-light aggregation model and claims that its technology infrastructure allows it to add new suppliers, services, and partners without significant operational expansion. This may support business growth across new markets and service categories while maintaining operational efficiency.
The company’s platform connects travel service providers directly with travel agents and other distribution partners. This model helps suppliers distribute their inventory and pricing through a centralised system while enabling agents to access multiple travel services without establishing separate commercial relationships with each provider.
The company has witnessed a consistent increase in its revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 20.44 crore in FY23 to Rs 30.61 crore in FY24 and Rs 40.14 crore in FY25. PAT increased from Rs 0.11 crore in FY23 to Rs 5.27 crore in FY24 and Rs 7.18 crore in FY25.
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.
The company has reported negative cash flows from operating activities amounting to Rs 0.31 crore and Rs 1.49 crore in FY25 and FY24, respectively. Since FY24, the company has not been able to generate enough money to fund its operating activities, forcing it to seek debt and other funding options. This will naturally entail finance expenses in the form of interest cost, which will negatively impact the bottomline. It also recorded negative cash flows from investing activities of Rs 0.28 crore, Rs 0.02 crore, and Rs 0.78 crore in FY25, FY24, and FY23, respectively. If the company continues to experience negative cash flows, it may face constraints in funding its operations, pursuing growth opportunities, and meeting its working capital requirements.
The company is involved in certain ongoing legal proceedings, including tax-related matters. Any adverse outcome in these proceedings could adversely affect the company’s business, financial condition, and reputation.
The company’s business is subject to economic cycles and seasonal fluctuations in travel demand. Factors such as economic slowdowns, changes in consumer spending, adverse weather conditions, political instability, public holidays, and disruptions during peak travel seasons could reduce demand for travel services and adversely affect the company’s revenue, cash flows, and financial condition.
Application details
For UHM Vacation IPO, eligible investors can apply as Individual investor.
| Apply as | Price band | Apply range | Lot size |
|---|---|---|---|
| Individual investor | ?157 - ?166 | ?2 - ?5 Lakhs | 800 |
About
Objective of UHM Vacation Ltd. IPO Proceeds
|
Particulars |
Estimated Amount (in ? Cr.) |
|
To meet the Capital expenditure |
10.47 |
|
Funding for Marketing and Promotional Activities |
4.90 |
|
To Meet Working Capital Requirements |
6.42 |
|
General Corporate Purposes |
[.] |
|
Total |
[.] |
Book Running Lead Managers & Registrar of UHM Vacation Ltd. IPO
|
Book Running Lead Manager |
Sobhagya Capital Options Private Limited |
|
Registrar to the Issue |
MUFG Intime India Private Limited |
|
Market Maker |
Giriraj Stock Broking Private Limited |
UHM Vacation Ltd. IPO Key Performance Indicators (KPIs)
|
KPI |
Value (For the Period ended February 28, 2026) |
|
ROE (%) |
31.56 |
|
ROCE (%) |
35.14 |
|
EBITDA Margin (%) |
20.32 |
|
PAT Margin (%) |
17.80 |
|
Debt/Equity ratio |
0.00 |
|
EPS (Basic) (?) |
10.81 |
|
Return on Net Worth (RoNW) (%) |
31.56 |
|
NAV per Equity Share (?) |
61.47 |
UHM Vacation Ltd. IPO Contact Details
|
Company Name |
UHM Vacation Limited |
|
Registered Office |
C 715, Dattani Plaza, Near E W Ind Est, Safed Pool, Saki Naka, Andheri (East), Mumbai - 400072, Maharashtra, India |
|
Phone |
02246079484 |
|
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|
Website |
UHM Vacation Ltd. IPO Registrar Contact Details
|
Company Name |
MUFG Intime India Private Limited |
|
Phone |
+91 81081 14949 |
|
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Website |