FabHotels’ parent company Travelstack Tech Limited has filed draft papers with the Securities and Exchange Board of India (SEBI) to raise Rs 250 crore through a fresh issue of shares.
The public offer will also include an offer-for-sale (OFS) of 2.68 crore equity shares by its early backers including Accel India, Panthera Growth Fund, Anupam Mittal, Qualcomm, and XTO10X.
According to the DRHP, Vaibhav Aggarwal will offload up to 35.82 lakh shares and Adarsh Manpuria will offload up to 17.91 lakh shares, while Anupam Mittal plans to sell 10.37 lakh shares. Other selling shareholders include Accel India, Panthera Growth Fund, Global Private Opportunities Partners and Qualcomm.
The company will utilize the net proceedings from Fresh Issue for part-funding the working capital requirements, Repayment of certain borrowings availed and General corporate purposes. Travelstack may also explore a pre-IPO placement of up to Rs 50 crore, which, if undertaken, will reduce the size of the public offer.
As per the DRHP, Accel India is the largest external stakeholder with 21.75% followed by Qualcomm Asia which holds 8% stake in the company. Meanwhile, Vaibhav Aggarwal owns 19.20% of the company.Founded in 2014 by Aggarwal and Adarsh Manpuria, Gurugram-based FabHotels is a hotel chain operating over 1,300 properties across more than 50 major Indian cities, including Mumbai, NCR, Bengaluru, and Goa.Financially, FabHotels reported operating revenue of Rs 400 crore in the first half of the ongoing fiscal year (H1 FY26). Its net profit stood at Rs 32 crore during the same period.
The IPO will be managed by Motilal Oswal, IIFL Capital and Nuvama while MUFG Intime will act as registrar.
-Entrackr