Helloji Holidays shares to list today. Check GMP ahead of debut

Helloji Holidays will debut on the BSE SME platform on December 9, with the stock set to list against a muted grey market backdrop. The IPO’s GMP is hovering around 8%, indicating modest listing expectations compared with the heavy oversubscription the offer witnessed during the bidding window.

The Rs 10.97 crore book-built issue ran from December 2 to December 4 and was entirely a fresh issue of 9.30 lakh shares priced at Rs 118. The company will have a post-issue equity base of 34.30 lakh shares, implying a pre-listing market cap of about Rs 40.46 crore. Allotments were finalised on December 5, and shares will be credited by December 8 ahead of Tuesday’s listing.

Despite its small size, the IPO attracted strong demand, closing 30.16 times subscribed. Qualified institutional buyers subscribed 34.40 times, NIIs were in for 41.60 times, and retail investors subscribed 22.80 times. The anchor book drew Rs 3.12 crore on December 1 with 2.64 lakh shares allotted before the issue opened.

Helloji Holidays operates in the travel and tourism segment as a full-service provider of customised holiday packages and end-to-end travel solutions. Its offerings span domestic and international air ticketing, curated inbound and outbound tours, hotel reservations, cruises, luxury transport, sightseeing, and destination management.

The company also provides ancillary services such as visa and passport assistance, travel insurance, and cab bookings, while its MICE division manages meetings, incentives, conferences, and events for corporate clients.

The company’s model covers both B2B and B2C channels. In FY25, the B2B segment accounted for 56.98% of revenue, while 43.02% came from individual travellers. This split allows Helloji to capture recurring business from corporate customers while building brand recall in retail leisure travel.

Financially, the company has shown steady growth. Revenue rose 8% in FY25 to Rs 28.18 crore, while profit after tax increased 16% to Rs 2.10 crore. EBITDA improved to Rs 2.83 crore, and net worth rose to Rs 6.26 crore from Rs 2 crore in the previous year.The IPO proceeds will be used primarily for working capital requirements amounting to Rs 5.04 crore, capital expenditure of Rs 2.90 crore for software systems, and general corporate purposes.

With the stock listing on December 9, all eyes are on whether the strong subscription will translate into a stable market debut. While the 8% GMP signals conservative expectations, the company’s asset-light model and diversified revenue streams provide a clear backdrop as it steps into the public market for the first time.