UHM Vacation Ltd.
UHMVACSME
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Overview
UHM Vacation Limited is a B2B travel and tourism aggregator that provides domestic and international flight bookings, hotel and accommodation bookings, holiday packages, tours and activities, transfers, car rentals, visa assistance and cruise bookings through a technology-driven platform. UHM Vacation Limited connects travel service providers with travel agencies, corporate travel managers and independent agents, with a strong presence in India and the GCC region, supported by its subsidiary Arabian Wonder FZC LLC and a business model focused on scalable distribution, platform integrations and selected asset-backed travel services.
Opening Date
Jun 04, 2026
Closing Date
Jun 08, 2026
Listing Date
Jun 11, 2026
IPO Type
SME
IPO Status
Closed
Issue Size
36.02 Cr
Fresh Issue
29.04 Cr
Offer for Sale
6.97 Cr
Price Band
₹157 - ₹166
Lot Size
800
IPO Timeline
Financials
Revenue
Profit After Tax (PAT)
IPO Objective
The main objectives of the issue are to strengthen UHM Vacation Limited’s technology, service infrastructure and operating capacity while supporting future business growth.
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Funding capital expenditure for enhancement of the B2B travel portal and integrations across mid-office systems, GDS, API, app functionality, accommodation connectivity, ancillary services, data security and payment systems to improve scalability, automation, speed and customer experience.
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Setting up a dedicated customer support office with workstations, software, telephony, networking, security, training and disaster recovery infrastructure to improve response times, service quality and multilingual support for agents, partners and customers.
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Purchasing company-owned business vehicles to support airport transfers, tour packages, corporate travel and related services, reduce dependence on third-party vendors, improve service reliability during peak seasons and enhance operating margins.
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Funding marketing and promotional activities, including participation in major travel exhibitions and trade fairs, to expand brand visibility, deepen industry relationships, enter new markets and support customer acquisition across travel segments.
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Meeting working capital requirements to support day-to-day operations, pre-booking of tickets and accommodations, longer receivable cycles in the B2B business and overall growth in transaction volumes.
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Meeting general corporate purposes, including business support requirements and other strategic corporate needs, within the regulatory cap applicable to such usage of gross proceeds.
Key Performance Indicator
P/E Ratio
11.32
EPS
14.67
ROE
31.56%
ROCE
35.14%
RONW
31.56%
Debt to Equity Ratio
—
PAT Margin
17.8%
EBITDA Margin
20.32%
P/B
2.7
SWOT Analysis
Strengths
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Comprehensive B2B travel platform offering flights, hotels, transfers, tours, visa and cruise services through one interface.
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Strong geographic exposure to India and GCC markets, with Dubai contributing a major share of revenue.
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Experienced promoter-led management team with long-standing travel industry knowledge and supplier relationships.
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Scalable technology-led aggregation model supported by direct integrations, GDS connectivity and subsidiary operations in the GCC.
Weaknesses
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Revenue concentration in Dubai and the GCC exposes the business to regional demand and geopolitical shifts.
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High trade receivable days and working capital intensity can pressure cash flows as the business scales.
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Customer concentration risk exists, with top agents contributing a meaningful share of revenue in recent periods.
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The company is still building formal customer support and owned service infrastructure, indicating dependence on expansion execution.
Opportunities
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Upgrading the B2B portal can expand integrations, automation and product depth, improving competitiveness and client retention.
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Company-owned vehicles can enhance margins, service reliability and bundled travel offerings for premium and corporate customers.
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Participation in major travel exhibitions can widen market reach, attract new agents and strengthen supplier partnerships.
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Growing travel demand in India and GCC, including leisure, business, pilgrimage and experiential travel, can support long-term growth.
Threats
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Travel demand is vulnerable to seasonality, economic slowdowns, geopolitical tensions, inflation and global disruptions.
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Intense competition from OTAs, B2B aggregators, DMCs and traditional travel operators may pressure pricing and margins.
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Changing laws, tax rules, competition regulations and listing-related compliance requirements can increase operational burden.
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Dependence on third-party airlines, hotels and other service providers creates supply, pricing and service delivery risks.
Subscription Rate
Frequently Asked Questions about UHM Vacation Ltd.
UHM Vacation Limited is a B2B travel and tourism aggregator that provides domestic and international flight bookings, hotel and accommodation bookings, holiday packages, tours and activities, transfers, car rentals, visa assistance and cruise bookings through a technology-driven platform. UHM Vacation Limited connects travel service providers with travel agencies, corporate travel managers and independent agents, with a strong presence in India and the GCC region, supported by its subsidiary Arabian Wonder FZC LLC and a business model focused on scalable distribution, platform integrations and selected asset-backed travel services.
The UHM Vacation Ltd. IPO is scheduled to open for subscription on Jun 04, 2026 and close on Jun 08, 2026. Investors can apply for shares during this period through eligible platforms.
The price band for the UHM Vacation Ltd. IPO is ₹157 to ₹166. Investors can place bids within this range once the issue opens.
The minimum lot size for the UHM Vacation Ltd. IPO is 800 shares. The minimum investment amount ₹1,32,800.
The total issue size of the UHM Vacation Ltd. IPO is approximately ₹36.02. Issue size represents the total value of shares offered to the public.
As per the latest available information, the UHM Vacation Ltd. IPO has been subscribed 0.66 times. Subscription levels can change significantly during the offer period.
The Grey Market Premium (GMP) for the UHM Vacation Ltd. IPO is not available as of now. GMP reflects unofficial market sentiment and should not be considered a guarantee of listing performance.
The shares of UHM Vacation Ltd. are expected to list on stock exchanges on Jun 11, 2026, subject to completion of the allotment process and regulatory approvals.
The net proceeds from the UHM Vacation Ltd. IPO are proposed to be used for The main objectives of the issue are to strengthen UHM Vacation Limited’s technology, service infrastructure and operating capacity while supporting future business growth., Funding capital expenditure for enhancement of the B2B travel portal and integrations across mid-office systems, GDS, API, app functionality, accommodation connectivity, ancillary services, data security and payment systems to improve scalability, automation, speed and customer experience., Setting up a dedicated customer support office with workstations, software, telephony, networking, security, training and disaster recovery infrastructure to improve response times, service quality and multilingual support for agents, partners and customers., Purchasing company-owned business vehicles to support airport transfers, tour packages, corporate travel and related services, reduce dependence on third-party vendors, improve service reliability during peak seasons and enhance operating margins., Funding marketing and promotional activities, including participation in major travel exhibitions and trade fairs, to expand brand visibility, deepen industry relationships, enter new markets and support customer acquisition across travel segments., Meeting working capital requirements to support day-to-day operations, pre-booking of tickets and accommodations, longer receivable cycles in the B2B business and overall growth in transaction volumes., Meeting general corporate purposes, including business support requirements and other strategic corporate needs, within the regulatory cap applicable to such usage of gross proceeds.
Before applying for the UHM Vacation Ltd. IPO, investors generally review the company’s business model, financial performance, valuation, industry outlook, and risk factors mentioned in the offer document.
