Listing Performance
Listed
Issue Price
₹166
Listed On
11 Jun 2026
- Price Band
- ₹157 – ₹166
- Lot Size
- 800
- Lot Value
- ₹1,32,800
- Open Date
- 04 Jun 2026
- Close Date
- 08 Jun 2026
- Min Investment
- ₹1,32,800
IPO Timeline
Issue Opens
04 Jun 2026 · Thu
Issue Closes
08 Jun 2026 · Mon
Bidding Cut-off (UPI Mandate)
08 Jun 2026 · 5:00 PM IST
Allotment
09 Jun 2026 · Tue
Listing
11 Jun 2026 · Thu
About UHM Vacation
UHM Vacations Limited is a B2B travel aggregator platform that connects travel agents to a diverse group of travel suppliers including airlines, hotels, and other service providers. The company operates an asset-light aggregation-based business model in the travel and tourism industry, serving the domestic and international travel markets.
The company generates revenue through commissions and service fees by acting as an intermediary between travel suppliers (airlines, hotels, accommodation providers) and travel agents, enabling bookings of flights, accommodations, and other travel ancillary services on its platform.
Investment Analysis
Quick Analysis: 6 strengths · 6 risk factors· Exchange: BSE SME
Strengths (6)
- •Comprehensive one-stop platform aggregating diverse travel services including flights, hotels, and visas
- •User-friendly technology platform with real-time availability and instant booking confirmation
- •International market access across India, UAE, Saudi Arabia, and GCC region
- •Scalable business model with automated systems and streamlined operational processes
- •Experienced management team with proven expertise in travel and tourism industry
- •Eliminates need for agents to manage multiple supplier relationships and booking systems
Risk Factors (6)
- •Business substantially dependent on prevailing economic conditions in India and Indian consumer income levels
- •First public offer with no formal market history; offer price not indicative of future trading price
- •Promoter shareholding lock-in expiration may cause significant selling pressure affecting equity share price
- •High degree of investment risk; investors may lose entire investment in equity shares
- •SME Platform listing may have lower liquidity and trading activity compared to main board
- •Foreign investors subject to foreign investment restrictions on Indian securities ownership
📊 Algorithmic Score
Computed from issue structure — GMP, fresh issue %, OFS %, issue size
Why do these differ? The Algorithmic Score measures issue quality (structure, size, promoter commitment). The Demand Analysis measures investor interest signals (subscription, GMP, risks). A high-quality issue can still have unconfirmed demand — especially before subscription opens.
✍️ Demand & Risk Analysis
Based on market demand signals — subscription, GMP trend, risk factors
IPO Market Analysis
“Mixed signals — moderate demand and average GMP suggest cautious participation. Apply based on company fundamentals rather than listing gain expectations.”
- ✅Subscribed 2.3x
- ✅QIB subscribed 1.0x
- ✅Positive GMP +20%
- ✅6 business strengths identified
- ⚠️6 risk factors noted
This is algorithmic analysis, not investment advice. Always read the DRHP before investing.
IPO Details
| Registrar | MUFG Intime India Pvt.Ltd. |
| Exchange | BSE SME |
| ISIN | — |
| Face Value | ₹10 |
| Issue Size | ₹36.00 Cr |
| Fresh Issue | — |
| OFS Size | — |
| Lead Managers | Sobhagya Capital Options Private Limited |
Company Fundamentals
8 sections extracted from this filingCapital Structure
Capital structure not disclosed in this filing.The capital-structure table was not found in UHM Vacation's offer document (common in abridged prospectuses).
Shareholding Pattern
Pre-Issue
Pre-Issue not disclosed in this filing.Not separately disclosed in UHM Vacation's filing.
Post-Issue
Post-Issue not disclosed in this filing.Not separately disclosed in UHM Vacation's filing.
Source: UHM Vacation offer document (DRHP/RHP).
Reservations & OFS
Investor Reservation
- QIB+50.00%
- NII / HNI+15.00%
- Retail+35.00%
OFS Selling Shareholders
- Izhar Ahmad4,20,000 sh
Source: UHM Vacation offer document (DRHP/RHP).
Board & Management
Board of Directors (5)
- Izhar Ahmad₹0.11 Cr p.a.
Chairman and Managing Director
Managing Director of the Company
- Rubeena Khatoon I Ahmed₹0.08 Cr p.a.
Executive Director
Joined company in July 01, 2015
- Rafiuddin Khan
Non-Executive Director
Bachelor's degree of Science and Master's degree in Science with Honours from Aligarh Muslim University; Post graduate Diploma in Business Administration from Annamalai University
More than 25 years of experience in operations management; previously worked with Dabur India Ltd, British Health Products (India) Limited, Avitech Animal Health Private Limited; currently with Hamdard Laboratories (India)
- Rajan Sharrad Korgaokar
Non-Executive Independent Director
Bachelor's degree of Science with Honours from University of Bombay
Experience in Finance and Banking sectors; previously associated with Bank of Maharashtra as Assistant General Manager in Credit Working Department; retired October 31, 2014
- Mohd Shamim
Non-Executive Independent Director
Bachelor's degree in Commerce; Master Degree of Finance and Control; Doctor of Philosophy in Commerce from Aligarh Muslim University
Extensive experience in academia
Key Managerial Personnel (2)
- Pratiksha Pravin Nagwekar₹0.05 Cr p.a.
Chief Financial Officer
Bachelor's degree in Commerce from University of Mumbai
Associated with company since August 31, 2015; over 18 years of experience in finance field; previously worked with Shakti Print 'N' Plast
- Sanchita Dad₹0.05 Cr p.a.
Company Secretary and Compliance Officer
Bachelor of Commerce from Maharshi Dayanand Saraswati University, Ajmer; Associate member of the Institute of Company Secretaries of India
Associated with company since June 02, 2025; over years of experience in compliance and secretarial field; previously worked with S Bhatt & Co. (Practicing Company Secretaries) and Goyal Associated Limited
Source: UHM Vacation offer document (DRHP/RHP).
Industry & Market
Industry & market data not disclosed in this filing.Market-size/industry detail was not extracted from UHM Vacation's filing.
Use of IPO Proceeds
Total allocation: ₹21.79 Cr (excludes issue expenses)
Promoters
Izhar Ahmad
Chairman, Managing Director · age 53
Pre-issue: 87%
Rubeena Khatoon I Ahmed
Executive Director · age 50
Pre-issue: 10.22%
Investor Quota
Approx. shares reserved per category
Estimated from total issue size; actual reserved lots are set in the RHP.
Application Lot Sizes
Retail caps at ₹2,00,000 (13 lots here). S-HNI is ₹2L–₹10L, B-HNI is above ₹10L.
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 800 | ₹1,32,800 |
| Retail (max) | 13 | 10,400 | ₹17,26,400 |
| S-HNI (min) | 14 | 11,200 | ₹18,59,200 |
| S-HNI (max) | 66 | 52,800 | ₹87,64,800 |
| B-HNI (min) | 67 | 53,600 | ₹88,97,600 |
Peer Comparison
| Company | P/E | EPS | RoNW % | NAV |
|---|---|---|---|---|
| UHM Vacations Limited | — | 14.67 | 41.42 | 43.08 |
Registrar (RTA)
SEBI-registered Registrar & Transfer Agent — handles allotment and refunds.
Registrar:MUFG Intime India Pvt.Ltd.→Lead Managers (BRLMs)
Click any merchant banker for their full IPO track record (positive listing rate, average gain, IPOs managed).
3-Year Financial Summary
Revenue trend
↑ FY23→FY25
| Fiscal Year | Revenue (₹Cr) | PAT (₹Cr) | EPS | P/E | ROE |
|---|---|---|---|---|---|
| FY25 | 40.14 | 7.18 | — | — | — |
| FY24 | 30.61 | 5.27 | — | — | — |
| FY23 | 20.44 | 0.11 | — | — | — |
Detailed Line Items (₹ Cr)
| Line Item | FY23 | FY24 | FY25 |
|---|---|---|---|
| EBITDA | 0.18 | 5.87 | 8.26 |
From the company's offer document (DRHP/RHP); restated figures where available.
Subscription Status
| Category | Day 5 |
|---|---|
| QIB | 1.00x |
| sNII (S-HNI) | — |
| bNII (B-HNI) | — |
| Retail | 3.86x |
| Total | 2.29x |
Colour: red <1x · green 1–5x · blue 5–10x · orange >10x.
Allotment Statistics
Retail Individual Investors (RII)
Subscription
3.86x
Allotment Ratio
1 lot per 4 applicants
Allotment Probability
~25.9%
Non-Institutional Investors (NII / HNI)
Subscription
0.87x
Allotment Type
Proportionate allotment
Qualified Institutional Buyers (QIB)
Subscription
1.00x
Allotment Type
Discretionary allotment
Total Subscription
2.29x
Allotment probability is estimated based on subscription data and is not guaranteed. Actual allotment depends on the registrar's process.
Basis of Allotment
Category-wise subscription & allotment ratio
Recently Listed IPOs
| Company | Listed | Listing Gain |
|---|---|---|
| Silverstorm Parks & Resorts | 31 Jul 2026 | — |
| Silverstorm Parks And Resorts Limited | 31 Jul 2026 | — |
| Shree Balaji (Mala) Textiles | 29 Jul 2026 | — |
Related IPOs
Documents
Frequently Asked Questions
When is the UHM Vacation IPO opening?
The UHM Vacation IPO opens on 04 Jun 2026 and closes on 08 Jun 2026. Check this page for the latest updates as we refresh every 30 minutes.
What is the price band of the UHM Vacation IPO?
The price band for the UHM Vacation IPO is ₹157 to ₹166. The final price is announced after the book-building process and is confirmed before listing.
What is the lot size and minimum investment for the UHM Vacation IPO?
The minimum lot size is 800 shares with a minimum investment of ₹1,32,800. Retail investors can apply for up to the retail limit defined by SEBI.
What is the GMP of UHM Vacation IPO today?
The latest Grey Market Premium for UHM Vacation is ₹34 (+20.00%). GMP is unofficial data and is not a guarantee of listing price.
When will the UHM Vacation IPO list on NSE and BSE?
The UHM Vacation IPO is expected to list on 11 Jun 2026 on BSE SME. Actual listing day trading begins at the start of the normal market session.
How can I check the UHM Vacation IPO allotment status?
The registrar for this IPO is MUFG Intime India Pvt.Ltd.. You can check your allotment status on the registrar's portal using your PAN, application number, or DP ID. We link to the registrar directly on our allotment page after the allotment date.
Is the UHM Vacation IPO a mainboard or SME issue?
UHM Vacation is a SME IPO that will list on the NSE Emerge or BSE SME platform. SME IPOs require a minimum application value of one lakh rupees.
How do I apply for the UHM Vacation IPO?
You can apply for the UHM Vacation IPO through any SEBI-registered broker such as Zerodha, Upstox, or Angel One using UPI or ASBA. Use the Apply Now buttons on this page to go directly to the broker.
What is the expected listing price of UHM Vacation IPO?
Based on the current GMP of ₹34, the expected listing price of UHM Vacation is ₹200 (issue price ₹166 + GMP ₹34). Note that GMP is unofficial grey market data and actual listing price may differ.
What is the allotment ratio for UHM Vacation IPO?
Based on the retail subscription of 3.86x, the estimated allotment ratio is 1 lot per 4 applicants (approximately 25.9% chance of allotment). This is an estimate and actual allotment may vary.
Should I subscribe to UHM Vacation IPO?
Based on our algorithmic analysis, UHM Vacation IPO is rated NEUTRAL with high confidence. Mixed signals — moderate demand and average GMP suggest cautious participation. Apply based on company fundamentals rather than listing gain expectations. This is not investment advice — please read the DRHP and consult a financial advisor before investing.
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