The travel and tourism sector in India is experiencing a strong resurgence, driven by growing domestic and international travel demand. Amid this growth, companies in the industry are looking to the public markets to fuel their expansion. One such offering is from LGT Business Connextions Limited, which is set to open its IPO on August 19, 2025.
This article provides a detailed look at the LGT Business IPO, including its business model, financials, and an industry overview to help you evaluate its investment potential.
About LGT Business Connextions Ltd.
Founded in 2016, LGT Business Connextions Ltd. operates as a service aggregator in the travel and tourism industry. The company’s business model is centred on acting as an intermediary, supplying products from third-party hotels, airlines, car rentals, and other travel services directly or through aggregators. This allows them to offer a wide range of services to both corporate groups and individual customers. The company provides a full suite of travel solutions, including MICE (Meetings, Incentives, Conferences, and Exhibitions) travel, cruise bookings, hotel reservations, and visa services.
LGT Business Connextions differentiates itself by offering comprehensive, end-to-end travel packages, ensuring all customer needs—from ticketing to local sightseeing—are met under one roof. The company has a significant concentration in the southern states of India, and a large portion of its revenue is derived from its top 10 customers and specific services like MICE packages and hotel bookings.
LGT Business Ltd. IPO Details
The LGT Business Connextions IPO is a fixed-price issue of 0.27 crore shares, comprising a fresh issue of 0.24 crore shares aggregating up to ₹25.28 crore and an Offer for Sale (OFS) of 0.03 crore shares aggregating up to ₹2.81 crore. The total IPO size is ₹28.09 crore.
Key IPO Details
| Event | Date |
| IPO Open Date | Tue, Aug 19, 2025 |
| IPO Close Date | Thu, Aug 21, 2025 |
| Tentative Allotment | Fri, Aug 22, 2025 |
| Initiation of Refunds | Mon, Aug 25, 2025 |
| Credit of Shares to Demat | Mon, Aug 25, 2025 |
| Tentative Listing Date | Tue, Aug 26, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 21, 2025 |
Important IPO Timeline
| Item | Details |
| IPO Date | August 19, 2025 to August 21, 2025 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Issue Price | ₹107 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 26,25,600 shares (aggregating up to ₹28.09 Cr) |
| Reserved for Market Maker | 1,32,000 shares (aggregating up to ₹1.41 Cr) |
| Market Maker | Asnani Stock Broker Pvt. Ltd. |
| Fresh Issue (Ex Market Maker) | 22,30,800 shares (aggregating up to ₹23.87 Cr) |
| Offer for Sale | 2,62,800 shares of ₹10 (aggregating up to ₹2.81 Cr) |
| Net Offered to Public | 24,93,600 shares (aggregating up to ₹26.68 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 70,10,000 shares |
| Share Holding Post Issue | 93,72,800 shares |
Lot Size of LGT Business Ltd.
| Application | Lots | Shares | Amount |
| Individual investors (Retail) (Min) | 2 | 2,400 | ₹2,56,800 |
| Individual investors (Retail) (Max) | 2 | 2,400 | ₹2,56,800 |
| HNI (Min) | 3 | 3,600 | ₹3,85,200 |
Company Financial Snapshot
LGT Business has demonstrated strong financial growth, with both revenue and profitability showing an upward trend. The company’s profit after tax (PAT) saw a significant increase of over 40% between the financial years ending March 31, 2024, and March 31, 2025. This growth reflects its expanding operations and efficient business model.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 27.18 | 15 | 8.69 |
| Total Income | 100.81 | 90 | 61.18 |
| Profit After Tax (PAT) | 5.22 | 3.63 | 2.97 |
| EBITDA | 7.65 | 5.27 | 4.04 |
| Net Worth | 12.45 | 7.23 | 3.6 |
| Reserves and Surplus | 5.44 | 7.22 | 3.59 |
| Total Borrowing | 9.58 | 2.82 | 2.5 |
Key Performance Indicators (as of Mar 31, 2025)
- ROE: 41.89%
- ROCE: 45.19%
- Debt/Equity: 0.77
- PAT Margin: 5.19%
- EBITDA Margin: 7.62%
Use of IPO Proceeds
The proceeds from the LGT Business IPO will be strategically utilised to support the company’s future growth.
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
| 1 | Capital Expenditure | 10 |
| 2 | Working Capital Requirement | 8 |
| 3 | General Corporate Purpose | 4 |
Conclusion
The LGT Business IPO provides an opportunity to invest in a growing player in the Indian travel and tourism sector. The company’s service aggregator model, coupled with its strong financial performance and strategic focus on comprehensive travel packages, positions it well for future expansion. However, investors should be aware of the inherent risks, such as high dependence on a small number of customers and reliance on third-party service providers. As with any investment, it is crucial to conduct your own due diligence and consider your personal risk tolerance before deciding to invest.
