Mumbai, June 11 (IANS) Business-to-Business (B2B) travel and tourism aggregator UHM Vacation Limited made a weak debut on the BSE SME platform on Thursday, with its shares listing at a sharp discount to the issue price amid subdued investor sentiment.

The stock opened at Rs 132.80 per share, nearly 20 per cent below its IPO price of Rs 166. Selling pressure continued after listing, pushing the stock to its 5 per cent lower circuit limit of Rs 126.20 per share.

The opening price remained the stock’s intra-day high during the session. The disappointing market debut follows a relatively modest response to the company’s initial public offering (IPO), which was open for subscription from June 4 to June 8.

The Rs 36.02-crore public issue was subscribed 2.36 times overall. Retail investors showed the strongest interest, subscribing their portion 3.86 times, while the non-institutional investor (NII) segment was subscribed only 0.86 times. The qualified institutional buyer (QIB) category was fully subscribed.

Founded in 2009, UHM Vacation operates as a business-to-business (B2B) travel and tourism aggregator.

The company offers a range of travel-related services, including airline ticketing, hotel bookings, cruise reservations, visa assistance, transfers and holiday packages through its integrated technology platform.

Its operations span across India and the Gulf Cooperation Council (GCC) region, serving travel agencies, corporate travel managers and independent travel agents.

Despite the weak listing, the company has reported steady financial growth. For the period ended February 2026, UHM Vacation posted revenue of Rs 45.29 crore, compared with Rs 40.20 crore in FY25.

Profit after tax (PAT) rose to Rs 8.05 crore from Rs 7.18 crore in the previous financial year.

The IPO comprised a fresh issue worth Rs 29.04 crore and an offer for sale (OFS) of Rs 6.97 crore.

The company plans to utilise the proceeds from the fresh issue towards capital expenditure, marketing and promotional activities, working capital requirements and general corporate purposes.

–IANS

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