Travelstack Tech has secured Securities and Exchange Board of India’s (SEBI's) approval to raise funds through initial public offering (IPO). The company’s proposed IPO comprises a fresh issue of shares worth Rs 250 crore and an Offer For Sale (OFS) of 2,68,52,969 shares by promoters and other shareholders.

Of the fresh issue proceeds, Rs 135 crore will be used for working capital requirements, Rs 45 crore for repayment of debt, and the remaining amount for general corporate purposes. Motilal Oswal Investment Advisors, IIFL Capital Services and Nuvama Wealth Management are the book-running lead managers to the public issue.   

Travelstack Tech operates TravelPlus. Its platform enables employees and travel desks of enterprises to book travel, manage approvals, process expenses, and receive comprehensive support throughout the travel lifecycle--helping enterprises optimise travel spends, improve policy compliance, and drive convenience for all stakeholders.