UHM Vacation IPO
LISTEDSMENEUTRALListing 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 Jun04 Jun 2026
- Close Date
- 08 Jun08 Jun 2026
- Min Investment
- ₹1,32,800
About UHM Vacation
UHM Vacations Limited is a B2B travel aggregator platform providing international and domestic air ticket booking, accommodation, and travel and tourism ancillary services to travel agents and corporate customers.
Aggregation-based travel and tourism services model acting as intermediary between service providers and agents, earning revenue from bookings without owning underlying assets.
Use of IPO Proceeds
Total allocation: ₹21.79 Cr (excludes issue expenses)
Promoters
Izhar Ahmad
Chairman, Managing Director · age 53
Pre-issue: 87.26%
Rubeena Khatoon I Ahmed
Executive Director · age 50
Pre-issue: 6.71%
Investment Analysis
Quick Analysis: 4 strengths · 6 risk factors· Exchange: BSE SME
Strengths (4)
- •Growing supplier and agent network enabling platform expansion and revenue growth.
- •Diversified revenue base across accommodation and airline services reducing dependency.
- •Technology-driven B2B platform streamlining booking and reducing operational complexity for agents.
- •Access to global inventory and bulk rates enabling competitive positioning versus traditional travel agencies.
Risk Factors (6)
- •No formal market exists for shares; offering price may not reflect actual trading price post-listing.
- •Business substantially dependent on prevailing economic conditions in India affecting consumer demand.
- •Promoter lock-in expiration may trigger significant share sales, impacting trading price.
- •First public offer creates uncertainty regarding active sustained trading post-listing.
- •Investment involves high degree of risk; investors may lose entire investment amount.
- •Foreign investors subject to foreign investment restrictions affecting international investor participation.
📊 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%
- ✅4 business strengths identified
- ⚠️6 risk factors noted
This is algorithmic analysis, not investment advice. Always read the DRHP before investing.
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 (1 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) | 1 | 800 | ₹1,32,800 |
| S-HNI (min) | 2 | 1,600 | ₹2,65,600 |
| S-HNI (max) | 7 | 5,600 | ₹9,29,600 |
| B-HNI (min) | 8 | 6,400 | ₹10,62,400 |
Subscription Status
| Category | Day 5 |
|---|---|
| QIB | 1.00x |
| sNII (S-HNI) | — |
| bNII (B-HNI) | — |
| Retail | 3.86x |
| Total | 2.29x |
Colour: red <1x · amber 1–10x · green ≥10x oversubscribed.
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
Weigh your chances
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
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
IPO Details
| Registrar | MUFG Intime India Pvt.Ltd. |
| Exchange | BSE SME |
| ISIN | — |
| Face Value | ₹10 |
| Issue Size | ₹0.22 Cr |
| Fresh Issue | ₹0.17 Cr |
| OFS Size | ₹0.04 Cr |
| Lead Managers | Sobhagya Capital Options Private Limited |
3-Year Financial Summary
Revenue trend
↓ 11M-FY26→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 | — | — | — |
| 11M-FY26 | 45.23 | 8.05 | — | — | — |
Detailed Line Items (₹ Cr)
| Line Item | 11M-FY26 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Total Income | 45.29 | — | 30.66 | 40.2 |
| EBITDA | 9.19 | 0.18 | 5.87 | 8.26 |
| Cash Flow — Operating | -1.42 | — | -1.49 | -0.31 |
| Cash Flow — Investing | 0.65 | — | -0.02 | -0.28 |
| Cash Flow — Financing | 0.39 | — | 0.8 | 0.62 |
From the company's offer document (DRHP/RHP); restated figures where available.
Check the valuation yourself
Company Fundamentals
11 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+2.00%
- NII / HNI+49.00%
- Retail+49.00%
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 July 01, 2015; Promoter and Executive Director
- Rafiuddin Khan
Non-Executive Director
Bachelor's degree in 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
- Rajan Sharrad Korgaokar
Non-Executive Independent Director
Bachelor's degree in science with Honours from University of Bombay
Associated with Bank of Maharashtra as Assistant General Manager in Credit Working Department; retired voluntary from service as on 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
- 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
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.
Peer Comparison
| Company | P/E | EPS | RoNW % | NAV |
|---|---|---|---|---|
| UHM Vacations Limited | — | 14.67 | 41.42 | 43.08 |
| LGT Business Connextions Limited | 7.13 | 7.44 | 52.99 | 17.76 |
| Helloji Holidays Limited | 14.53 | 8.6 | 50.78 | 25.67 |
| International Travel House Limited | 9.86 | 33.96 | 17.64 | 206.83 |
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).
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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