LGT Business Connextions IPO opens today; company to raise Rs 28 crore
Chennai's LGT Business Connextions is set to launch its IPO today. The IPO aims to raise Rs 28.09 crore. The issue includes fresh equity and an offer for sale. The IPO price is Rs 107 per share. The subscription window will remain open until Augus...
By Akash Podishetti, ETMarkets.com |
ANI
LGT Business Connextions, a Chennai-based travel and tourism service aggregator, will launch its IPO today. The Rs 28.09 crore issue is a mix of a fresh equity sale of 25.28 crore rupees and an offer for sale of 2.81 crore rupees, aggregating to 26.26 lakh shares.
The IPO is priced at Rs 107 per share with a lot size of 1,200 shares, meaning the minimum retail investment is Rs 2.56 lakh for 2 lots.
The issue will remain open until August 21, with the allotment expected on August 22. Shares are proposed to be listed on the BSE SME platform on August 26.
About the company
Incorporated in 2016, LGT Business Connextions acts as a service aggregator in the travel and tourism industry, offering end-to-end services across MICE (meetings, incentives, conferences, exhibitions), hotel bookings, ticketing and visa processing, cruise packages, local sightseeing, and customised travel plans.
It caters to both corporate and individual clients, consolidating services from hotels, airlines, car rentals, and other travel providers.
Financial performance
LGT Business Connextions has shown consistent growth. For FY25, it reported revenues of Rs 100.8 crore, up 13% from Rs 89.5 crore in FY24. Profit after tax rose 44% to Rs 5.2 crore compared to Rs 3.6 crore in the previous year.
Use of proceeds
The company plans to utilise the IPO proceeds for capital expenditure (Rs 10.4 crore), working capital needs (Rs 7.7 crore), and general corporate purposes (Rs 3.8 crore).
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
The IPO is priced at Rs 107 per share with a lot size of 1,200 shares, meaning the minimum retail investment is Rs 2.56 lakh for 2 lots.
The issue will remain open until August 21, with the allotment expected on August 22. Shares are proposed to be listed on the BSE SME platform on August 26.
About the company
Incorporated in 2016, LGT Business Connextions acts as a service aggregator in the travel and tourism industry, offering end-to-end services across MICE (meetings, incentives, conferences, exhibitions), hotel bookings, ticketing and visa processing, cruise packages, local sightseeing, and customised travel plans.
It caters to both corporate and individual clients, consolidating services from hotels, airlines, car rentals, and other travel providers.
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The company operates with leased flats in Chennai and Thiruvananthapuram for accommodation services and holds IATA accreditation for domestic and international ticketing. Its corporate travel arm specialises in MICE arrangements, handling logistics, accommodations, and event services.Financial performance
LGT Business Connextions has shown consistent growth. For FY25, it reported revenues of Rs 100.8 crore, up 13% from Rs 89.5 crore in FY24. Profit after tax rose 44% to Rs 5.2 crore compared to Rs 3.6 crore in the previous year.
Use of proceeds
The company plans to utilise the IPO proceeds for capital expenditure (Rs 10.4 crore), working capital needs (Rs 7.7 crore), and general corporate purposes (Rs 3.8 crore).
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The IPO is being managed by Mark Corporate Advisors with Skyline Financial Services as the registrar.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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