August 21, 2025
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LGT Business Connextions IPO Key Dates
| Anchor Investor Subscription | |
| IPO opens on | 19 August 2025 |
| IPO Closes on | 21 August 2025 |
| Allotment on | 22 August 2025 |
| Credit of shares on | 25 August 2025 |
| Tentative Listing on | 26 August 2025 |
LGT Business Connextions IPO Condenses Verdict
Positive Verdict: Strong growth in revenue and profits makes LGT Business Connextions an attractive play on the tourism sector.
Cautious Verdict: Though growth is visible, rising debt and sector competition warrant careful consideration.
Final Subscription Tally
| Size Rs. 46.80 Crore | ||||
| QIB | NII x | RII x | Total x | Applications |
| Subscription Review: |
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About the business of LGT Business connextions
Incorporated in 2016, LGT Business Connextions Limited operates as a service aggregator in the travel and tourism industry, offering a wide spectrum of services under its travel and tours brand. The company connects customers with hotels, airlines, car rentals, cruises, and other travel-related services, either directly or through third-party aggregators. Its offerings include MICE travel solutions, cruise and hotel bookings, ticketing, visa processing, local sightseeing, customised itineraries, consolidated tour packages and arrangements for trade fairs and exhibitions, catering to both corporate clients and individual travellers.
The company’s MICE division provides end-to-end solutions for meetings, incentives, conferences, and exhibitions, including travel, accommodation, logistics, and post-event reporting. Under Accommodation services, LGT Business Connextions ties up with domestic and international hotels and booking aggregators, while also offering leased flats in Chennai and Thiruvananthapuram. In Ticketing & Visa services, the company holds IATA accreditation for domestic and international ticketing, earning commissions, and offers visa assistance for business, tourism, and conferences, usually as part of bundled packages.
LGT Business Connextions IPO Details
|
Sector: Travel sector Aggregator |
|
| IPO opens on | 19 August 2025 |
| IPO closes on | 21 August 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 26,25,600 Shares / Rs 28.09 Crore |
| * Fresh Issue | – |
| * Offer for Sale – | – |
| Market Maker Portion | 132,000 Shares |
| Net offer to Public | 24,93,600 Shares Rs. 26.68 Crores |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 107 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 1200 Shares |
| Listing will at | BSE SME |
How shares are being offered
|
Category |
Shares Offered |
| QIB | Not more than 50% of the Net Issue |
| Retail | Not less than 35% of the Offer |
| NII | Not less than 15% of the Net Issue |
| Application | Lots | Shares | Amount |
| Individual investors (Retail) (Min) | 2 | 2,400 | Rs.2,56,800 |
| Individual investors (Retail) (Max) | 2 | 2,400 | Rs.2,56,800 |
| HNI (Min) | 3 | 3,600 | Rs.3,85,200 |
Who are the Promoters of LGT Business Connextions?
The promoters hold 91.49% of the pre-IPO capital
What are the Objects of LGT Business Connextions IPO?
The Company proposes to utilize the Net Proceeds from Issue towards funding the following objects
+Funding capital expenditure requirements for the proposed expansion in existing manufacturing facilities of our Company by constructing additional floor and installation of additional plant and machineries Rs. 13.70 Crore
+Part funding long-term working capital requirements Rs. 21.50 Crore
+General Corporate purposes
LGT Business Connextions IPO Lead Managers
Mark Corporate Advisors Pvt ltd
| Registered Office of the Company |
| LGT Business Connextions Ltd. New No. 38, Old No. 44, First Floor, Brindavan Street Extn, West Mambalam Chennai, Tamil Nadu, 600033 |
| Who is the Registrar to the IPO? Skyline Financial Services ltd |
LGT Business Connextions IPO Financials Snapshot
| Period Ended | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
| Assets | 27.18 | 14.93 | 8.69 |
| Total Income | 100.81 | 89.53 | 61.18 |
| Profit After Tax | 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 |
| Amount in Rs. Crore | |||
Performance Indicators
| KPI | Values |
| ROE | 41.89% |
| ROCE | 45.19% |
| Debt/Equity | 0.77 |
| RoNW | 41.89% |
| PAT Margin | 5.19% |
| EBITDA Margin | 7.62% |
| Price to Book Value | 6.02 |
| EPS-Post | 5.56 |
| PE R-Post | 19.23 |
How LGT business Connextions IPO compares with the Peers?
| Company Name | P/E (x) | RoNW (%) |
| LGT Business Connextions Limited | 14.38 | 41.89 |
| International Travel House Ltd. | 14.15 | 16.42 |
# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
LGT Business Connextions IPO Review
by Paresh Gordhandas, CA & Research Analyst
LGT Business Connextions Ltd, established in 2016, operates as a service aggregator in the travel and tourism sector, connecting customers to hotels, airlines, car rentals, cruises, and third-party travel partners. The company has built an extensive service portfolio, including MICE travel (meetings, incentives, conferences, exhibitions), cruise and hotel bookings, visa facilitation, ticketing, sightseeing arrangements, trade fair tours, and customised travel packages for both corporate and retail clients. Its IATA accreditation for ticketing and tie-ups with domestic and international accommodation providers enhance credibility.
Financial Performance
The company has demonstrated robust growth over the last three years:
-
Revenue grew from ₹61.18 crore in FY23 to ₹100.81 crore in FY25.
-
Profit After Tax (PAT) improved steadily from ₹2.97 crore in FY23 to ₹5.22 crore in FY25.EBITDA rose from ₹4.04 crore in FY23 to ₹7.65 crore in FY25, indicating improving operating efficiency.
-
Net Worth expanded from ₹3.60 crore in FY23 to ₹12.45 crore in FY25.
On the flip side, borrowings increased sharply from ₹2.50 crore in FY23 to ₹9.58 crore in FY25, suggesting higher leverage for growth. While this reflects expansion, it also brings in risk, given the competitive nature of the travel industry.
Chanakya’s View
LGT Business Connextions is a niche player in the tourism services aggregation space, benefiting from the rising demand for organised travel, especially in MICE and customised travel solutions. Strong revenue growth and profitability are positives, but the rising debt levels and concentration in the cyclical travel sector warrant caution. For investors, the IPO offers an entry into a growth-oriented but competitive business model.
LGT Business Connextions Limited is a travel and tourism service aggregator. It offers MICE travel solutions, cruise and hotel bookings, ticketing, visa assistance, sightseeing, and customised travel packages for both corporate and individual clients.
The company has shown steady growth. Its income rose from ₹61.18 crore in FY2023 to ₹100.81 crore in FY2025, while profit after tax increased from ₹2.97 crore to ₹5.22 crore during the same period.
The company benefits from being an established player in the growing tourism industry, diversified services covering MICE and leisure travel, and improving profitability with rising revenue scale.
The main risks include high competition in the travel industry, dependence on tourism cycles, and rising borrowings, which increased from ₹2.50 crore in FY2023 to ₹9.58 crore in FY2025.
The IPO may attract interest due to its growth in revenue and profits, but investors should weigh the risks of higher debt and industry competition. It appears suitable for investors with a moderate-to-high risk appetite.
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