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Helloji Holidays IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details

Helloji Holidays Limited, incorporated in 2012, is a travel services company offering domestic and international air ticketing, hotel bookings, holiday packages, cruises, luxury car rentals, visa assistance, and travel insurance. The company earns revenue mainly from B2B and corporate travel management, supported by B2C leisure travel. Its services are widely used by enterprises, institutions, families, groups, and individual travellers across India.

Helloji Holidays ,an Book Built Issue, amounting to ₹10.96 Crore,consisting entirely an fresh issue of 0.09 crore shares of ₹10.96 Crore.The subscription period for the Helloji Holidays IPO opens on December 02, 2025, and closes on December 04, 2025. The allotment is expected to be finalized on or about Friday, December 05, 2025., and the shares will be listed on the BSE SME with a tentative listing date set on or about Tuesday, December 09, 2025.

The Share Price Band of Helloji Holidays IPO is set at ₹110 to ₹118 per equity share. The Market Capitalisation of the Helloji Holidays at IPO price of ₹118 per equity share will be  40.46 Crores. The lot size of the IPO is 1200 shares. Retail investors are required to invest a minimum of   283,200, 2 lots ( 2400 shares), while the minimum investment for High-Net-Worth Individuals (HNIs) is 3 lots ( 3600 shares), amounting to  424,800.

KHAMBATTA SECURITIES LIMITED are the book running lead manager of the Helloji Holidays Ltd. while MAASHITLA SECURITIES PRIVATE LIMITED is the registrar for the issue. The Market Maker of the company is Prabhat Financial Services Ltd.

Helloji Holidays Limited IPO GMP Today
The Grey Market Premium of Helloji Holidays IPO is expected to be ₹0 based on the financial performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.

Helloji Holidays Limited IPO Live Subscription Status Today: Real-Time Update
As of 05:30 PM on 02 December, 2025, the Helloji Holidays IPO live subscription status shows that the IPO subscribed 0.60 times on its First Day of subscription period. Check the Helloji Holidays IPO Live Subscription Status Today at BSE.

Helloji Holidays Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online
Helloji Holidays IPO allotment date is 05 December 2025, Friday, Helloji Holidays IPO Allotment will be out on 05 December 2025, Friday.and will be live on Registrar Website from the allotment date.
Check MAASHITLA SECURITIES PRIVATE LIMITED IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select Helloji Holidays IPO from the dropdown list of IPOs
- Enter your application number, PAN, or DP Client ID
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.

Objectives of Helloji Holidays Limited IPO
Helloji Holidays to utilise the Net Proceeds towards the following objects:
1. ₹504.00 Lakh is required for Working Capital Requirements
2. ₹290.00 Lakh is required for Capital expenditure towards purchase of Software.
3. General Corporate Purposes.

Refer to Helloji Holidays Limited RHP for more details about the Company.

Helloji Holidays Limited Day Wise IPO GMP Trend
GMP Date Issue Price Expected Listing Price GMP Last Updated
November 26, 2025 ₹ 118 ₹ 118 ₹0(0.0%) 27 November 2025; 05:44 PM
November 26, 2025 ₹ 118 ₹ 118 ₹0(0.0%) 01 December 2025; 11:25 AM
Helloji Holidays IPO Details
Market Capitalization ₹40.46 Cr.
IPO Date December 02, 2025 to December 04, 2025
Listing Date December 09, 2025
Face Value ₹10 Per Share
Price Band ₹110 to ₹118 per share
Issue Price ₹118 per share
Employee Discount NA
Lot Size 1200 Equity Shares
Total Issue Size 9,28,800 Equity Shares (aggregating to ₹10.96 Cr)
Fresh Issue 9,28,800 Equity Shares (aggregating to ₹10.96 Cr)
Offer for Sale NA
Issue Type Book Built Issue
Listing At BSE SME
Share holding pre issue 2,500,000
Share holding post issue 3,428,800
Rating Avoid
Helloji Holidays IPO Anchor Investors Details
Bid Date December 01, 2025
Shares Offered 2,64,000
Anchor Portion Size (In Cr.) 3.12
Anchor lock-in period end date for 50% shares (30 Days) January 04, 2026
Anchor lock-in period end date for remaining shares (90 Days) March 05, 2026
Helloji Holidays IPO Timeline (Tentative Schedule)
IPO Open Date Tue, Dec 2, 2025
IPO Close Date Thu, Dec 4, 2025
Basis of Allotment Fri, Dec 5, 2025
Initiation of Refunds Mon, Dec 8, 2025
Credit of Shares to Demat Mon, Dec 8, 2025
Listing Date Tue, Dec 9, 2025
Cut-off time for UPI mandate confirmation 5 PM on Thu, Dec 4, 2025
Helloji Holidays IPO Reservation
Investor Category Shares Offered Reservation %
QIB Portion 440,400 Not less than 50% of the Net Offer
Non-Institutional Investor Portion 132,120 Not more than 15% of the Net Issue
Retail Shares Offered 308,280 Not more than 35% of the Net Offer
Market Maker Portion 48,000 -
Helloji Holidays IPO Promoter Holding
Share Holding Pre Issue 96.00%
Share Holding Post Issue 70.00%
Helloji Holidays IPO Lot Size
Application Lots Shares Amount
Retail (Min) 2 2,400 ₹283,200
Retail (Max) 2 2,400 ₹283,200
S-HNI (Min) 3 3,600 ₹424,800
S-HNI (Max) 7 8,400 ₹991,200
B-HNI (Min) 8 9,600 ₹1,132,800
Helloji Holidays IPO Subscription Status
Investor Category Shares Offered Shares Bid For No of Times Subscribed Last Upadeted
Qualified Institutional Buyers (QIB) 1,75,200 60,26,400 34.40x 05 December 2025; 10:30 AM
Non Institutional Investors(NIIS) 1,33,200 55,41,600 41.60x 05 December 2025; 10:30 AM
Retail Individual Investors (RIIs) 3,08,400 70,32,000 22.80x 05 December 2025; 10:30 AM
Total 6,16,800 1,86,00,000 30.16x 05 December 2025; 10:30 AM
About Helloji Holidays Limited

Helloji Holidays Limited, incorporated in 2012, is a travel services company offering domestic and international air ticketing, hotel bookings, holiday packages, cruises, luxury car rentals, visa assistance, and travel insurance. The company earns revenue mainly from B2B and corporate travel management, supported by B2C leisure travel. Its services are widely used by enterprises, institutions, families, groups, and individual travellers across India.

Key Clients & Facilities

The company serves corporate clients, institutional travellers, and B2B travel agents. Its top customers contribute significantly to ticketing and travel package revenues. Helloji operates from its registered office at WA-89, Shakarpur, East Delhi, along with leased branch offices across multiple states. These offices are equipped with computers, internet connectivity, communication tools, and 24/7 service support infrastructure required for smooth travel operations.

Product Portfolio, Segments & Order Execution

The company’s portfolio includes airline ticketing, domestic/international tour packages, hotel reservations, and value-added services like visa, passport, insurance, and luxury transport. These solutions are positioned in the corporate travel lifecycle—covering planning, booking, compliance, and post-sales support. Ticketing forms a major revenue share. The company handles recurring corporate orders and executes them through supplier partnerships, trained staff, and real-time travel support systems.

Mergers, Capex & Expansion Plans

Helloji has no merger transactions reported post FY25. Future expansion focuses on strengthening technology, automation, brand building, and enhancing its travel booking platform. The company plans capital expenditure of ₹290 lakh towards purchase of software and ₹504 lakh towards working capital, financed through IPO proceeds, internal accruals, and net worth. These investments will support scalability, automation, and geographic expansion.

Employees & Banker

As on October 31, 2025, our Company has 17 employees. The Banker to the Company is Axis Bank Limited, Bank of India, ICICI Bank Limited and HDFC Bank Limited.

MANAGEMENT & VISION

The management team is led by Managing Director Mr. Hitesh Kumar Singla, supported by Executive Directors Mr. Anil Kumar Sharma, Mr. Nikhil Singla, and Mr. Nitin Dixit. Their vision is to expand Helloji’s position as a corporate-first, full-spectrum travel partner with a strong B2B presence. They aim to scale services through improved technology, digital automation, new office expansions, stronger supplier partnerships, and a wider national and international footprint.

Over the near term, management plans to enhance the company’s travel booking platform, build a stronger brand, and improve customer retention through personalized service. Long-term goals include deeper penetration in corporate travel, expansion into Middle East, Europe, and Southeast Asian corridors, and creating an integrated travel management ecosystem. Funding for expansion and capex will come from IPO proceeds, internal accruals, and debt if required.

INDUSTRY OVERVIEW

India’s travel and tourism industry is one of the fastest-growing globally, driven by rising incomes, corporate mobility, and digital adoption. The industry is expanding through online travel platforms, corporate travel management firms, and B2B aggregators. Consolidation is increasing as companies invest in automation and scale.

Globally, travel management is a multibillion-dollar market with strong long-term growth led by technology, integrated service platforms, and MICE travel. In India, B2B travel aggregation has grown rapidly due to real-time inventory access, dynamic pricing tools, and digitized agent ecosystems. Growth rates in the industry vary across segments but continue to exceed pre-COVID levels. Major players include International Travel House, Trade-Wings Limited, and emerging tech-enabled B2B aggregators.

KEY RISK FACTORS

  1. High Competition
    The company operates in a highly competitive travel industry dominated by OTAs, large travel houses, and global platforms. Competitors have stronger financial resources, brand recognition, and technology, which may impact pricing and client acquisition.
  2. Dependence on Corporate Travel Demand
    A significant portion of revenue comes from corporate and institutional travel. Any slowdown in business travel, economic downturn, or shift to virtual meetings can reduce demand and affect revenues.
  3. Low Margin Business Model
    Ticketing and travel services often operate on thin margins. Higher supplier costs, changes in airline commissions, or currency fluctuations can reduce profitability and impact operating leverage.
  4. Technology and Data Risks
    As the company expands its digital platform, risks of system failures, cybersecurity threats, or delays in software implementation may impact service quality and customer experience.
  5. Working Capital Intensive Operations
    The business requires continuous working capital to handle bookings, supplier payments, and client credit cycles. Delays in receivables can strain liquidity and affect growth plans.
  6. Regulatory and Compliance Risks
    The travel industry is influenced by aviation policies, visa norms, and government regulations. Any regulatory change across domestic or international markets can affect operations and client movement.

SECTION 5 – KEY STRENGTHS, MOAT & OPPORTUNITIES

  1. Strong Corporate Travel Focus
    Helloji has developed a robust presence in the B2B travel segment, offering end-to-end corporate travel solutions with 24/7 support. This high-touch model ensures client retention and recurring business.
  2. Integrated Service Portfolio
    The company offers complete travel services—from ticketing and tours to insurance and documentation—creating a one-stop platform for enterprises and leisure travellers. This enhances customer convenience and strengthens cross-selling potential.
  3. Growing Digital Capabilities
    Investments in new software, automation, and corporate self-service tools will significantly improve efficiency, accuracy, and scalability. This digital shift will reduce manpower needs and operational costs while enabling faster expansion.
  4. Strong Supplier Relationships
    Longstanding partnerships with airlines, hotels, transport providers, and travel insurance firms help Helloji offer competitive prices and reliable service, supporting customer trust and business growth.
  5. Experienced Management Team
    The leadership team has deep industry knowledge and strong execution capabilities. Their strategic focus on B2B travel, brand building, and technology-driven expansion positions the company for sustainable growth.
  6. Large Industry Opportunity
    India’s growing tourism, rising corporate travel demand, increasing digital adoption, and expanding SME travel market present significant opportunities for Helloji to scale operations across new geographies and customer segments.

Helloji Holidays Limited Financial Information (Restated Consolidated)

Amount in (₹ in Lakhs)

Period Ended Sep 30, 2025 Mar 31, 2025 Mar 31, 2024 Mar 31, 2023
Reserve of Surplus 466.36 375.64 184.00 3.51
Total Assets 882.09 824.48 484.30 281.34
Total Borrowings 0.00 3.72 56.62 93.07
Fixed Assets 8.65 8.12 8.86 12.12
Cash 112.14 363.45 73.37 68.30
Cash flow from operating activities -246.09 248.40 46.13 -21.67
Cash flows from investing activities -1.24 -121.25 -2.83 -7.42
Cash flow from financing activities -3.99 162.93 -38.24 68.37
Net Borrowing -112.14 -359.73 -16.75 24.77
Revenue 1,274.47 2,817.95 2,597.24 1,717.92
EBITDA 116.26 283.24 263.15 40.11
PAT 90.72 209.64 180.49 19.55
PAT Margin 7.12% 7.44% 6.95% 1.14%
EPS 3.63 8.6 16.35 1.77

Note 1:- RoE, ROCE & RoNW calculation in KPI is based on 31st Mar, 2025 Data, given in RHP.
Note 2:- Pre EPS and Post EPS calculation in KPI is based (Profit/Loss for the Year) on 31st Mar, 2025 Data, given in RHP.
Note 3:- RoNW calculation in KPI is based on 31st Mar, 2025 Data, given in RHP.
Note 4:- Price to Book Value calculation in KPI is based on Cap Price Post Issue Data, given in FINANCIAL EXPRESS.

Key Performance Indicator
KPI Values
EPS Pre IPO (Rs.) 8.6
EPS Post IPO (Rs.) 6.11
Adjusted 12M EPS Post IPO (Rs.) 5.29
P/E Pre IPO 13.72
P/E Post IPO 19.30
Adjusted 12M P/E Post IPO 22.30
ROE 50.78%
ROCE 44.38%
P/BV 4.71
Debt/Equity 0.01
RoNW 33.51%
EBITDA Margin 10.07%
PAT Margin 7.44%
Helloji Holidays Limited IPO Peer Comparison
Company Name EPS P/E (x) ROE ROCE P/BV Debt/Equity RoNW (%)
Helloji Holidays 6.11 19.30 50.78% 44.38% 4.71 0.01 33.51%
LGT Business Connextions 7.44 8.04 53.0 % 50.1 % 1.28 0.19 41.89%
Travels and Rentals 3.26 13.19 - - 13.19 - 11.40%
Naturewings Holidays 3.96 22.74 18.3 % 25.4 % 22.74 0.00 11.84%
Helloji Holidays Limited Contact Details

Helloji Holidays Ltd.
WA-89,
Third Floor Shakarpur,
Delhi, New Delhi, 110092
Phone: +91 9958083332
Email: compliance@helloji.com
Websitehttp://www.helloji.com/

Helloji Holidays IPO Registrar and Lead Manager(s)

Maashitla Securities Pvt.Ltd.
Phone: +91-11-45121795-96
Email: investor.ipo@maashitla.com
Websitehttps://maashitla.com/allotment-status/public-issues

KHAMBATTA SECURITIES LIMITED
Phone: +91-9953989693, 0120 4415469
Email: ipo@khambattasecurities.com
Website: www.khambattasecurities.com

Helloji Holidays IPO Review

Helloji Holidays Limited, incorporated in 2012, is a travel services company offering domestic and international air ticketing, hotel bookings, holiday packages, cruises, luxury car rentals, visa assistance, and travel insurance. The company earns revenue mainly from B2B and corporate travel management, supported by B2C leisure travel. Its services are widely used by enterprises, institutions, families, groups, and individual travellers across India.

The Company is led by Promoter, i.e., MR. HITESH KUMAR SINGLA, MR. NIKHIL SINGLA, MR. NITIN DIXIT AND MR. ANIL KUMAR SHARMA

The Revenues from operations for the Period ended on Sep 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 1,274.47 Lakh, ₹ 2,817.95 Lakh, ₹ 2,597.24 Lakh, and ₹ 1,717.92 Lakh, The EBITDA for the Period ended on Sep 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 116.26 Lakh, ₹ 283.24 Lakh, ₹ 263.15 Lakh, and ₹ 40.11 Lakh, The Profit after Tax for the Period ended on Sep 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were were ₹ 90.72 Lakh, ₹ 209.64 Lakh, ₹ 180.49 Lakh, and ₹ 19.55 Lakh, respectively. This indicates a steady growth in financial performance.

The Company Key Performance Indicates the pre-issue EPS of ₹8.6 and post-issue EPS of ₹6.11 for FY25. The pre-issue P/E ratio is 13.72x,while the post-issue P/E ratio is 19.30x against the Industry P/E ratio is 12.94x The company's ROE for FY25 is 50.78% and RoNW is 33.51% The Annualised EPS is ₹5.29x and P/E is 22.30x. These metrics suggest that the IPO is Fully priced.

The Grey Market Premium (GMP) of Helloji Holidays showing listing gains of  0%.Given the company's financial performance and the valuation of the IPO, we recommend  Investors to Avoid to the Helloji Holidays Limited IPO for Listing gain or Long Term Purposes.


Disclaimer: The information provided in this IPO review is for educational and informational purposes only and should not be construed as financial advice or an offer to buy or sell securities. The review must not be used as a singular basis of any investment decision. The views herein are of a general nature and do not consider the risk appetite or the particular circumstances of an individual investor; readers are requested to take professional advice before investing. Nothing in this document should be construed as investment advice. The content is based on publicly available information and market perceptions as of the date of publication and is subject to change. Neither the author nor the website is responsible for any losses or damages arising from the use of this information. We also use Artificial Intelligence (AI) tools to enhance the efficiency and quality of our research services, including data retrieval, analysis, and report summarization. 1.“Registration granted by SEBI, membership of a SEBI recognized supervisory body (if any) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.” 2. “Investment in securities market are subject to market risks. Read all the related documents carefully before investing.” 3. To read the Disclaimers, Disclosures, Investor Charter, Investor Complaints please visit Legal our website abhayvarn.com

About the Author
CA Abhay Kumar (Also known as  CA Abhay Varn) is a qualified Chartered Accountant by profession and cleared CA at age 21. He is a SEBI Registered Research Analyst with Registration Number - INH300008465. He Possesses 8+ years of experience in the Stock Market Field and has also worked in Big CA firms.

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