UHM Vacation shares made a disappointing debut on the BSE SME today, opening at ₹132.80 per share, which was 20% below the issue price of ₹166. The stock was subsequently locked in at a 5% lower circuit at ₹126.20 per share after touching an intraday high of ₹132.80. According to reports from Business Standard, the scrip traded at ₹126.20 on the BSE, representing a 23.98% discount to the issue price. About 7,200 shares changed hands at the counter during the trading session.
The ₹36.02 crore UHM Vacation IPO was open for subscription from June 4 to June 8 and received a relatively muted response from investors. As reported by Business Standard, the offering was subscribed 2.29 times overall, with the retail investor segment attracting the strongest demand at 3.86 times subscription. The non-institutional investor (NII) portion was subscribed 0.86 times, while the qualified institutional buyer (QIB) category was fully subscribed. The IPO comprised 21,69,600 equity shares, including a fresh issue of 17,49,600 equity shares and an offer for sale (OFS) of 4,20,000 equity shares with a price band fixed between ₹157 to ₹166 per share.
Founded in 2009, UHM Vacation operates as a business-to-business (B2B) travel and tourism aggregator, offering services such as airline ticketing, hotel reservations, cruise bookings, visa assistance, transfers, and holiday packages through a unified technology platform. According to Business Standard, the company sources and aggregates services from airlines, accommodation providers, cruise lines, car rental companies, visa facilitators, and other travel service providers either through direct connectivity or third-party aggregators. This enables the company to provide a wide range of travel services and curated options to meet specific customer needs through one platform. As of March 31, 2026, the company had 20 employees.
On the financial front, UHM Vacation has reported steady growth for the period ended February 2026. As reported by Business Standard, the company posted revenue from operations of ₹45.23 crore compared with ₹40.20 crore in FY25, while net profit increased to ₹8.05 crore from ₹7.18 crore in the previous year. The offering comprises a new issue of ₹29.04 crore and a sale of shares worth ₹6.97 crore.
The company intends to allocate the funds raised from the fresh issue for capital expenditures, marketing and promotional efforts, working capital needs, and other corporate purposes. According to Business Standard, Sobhagya Capital Options Pvt. Ltd. serves as the lead manager for the book, while MUFG Intime India Pvt. Ltd. acts as the registrar for the offering. Giriraj Stock Broking Pvt. Ltd. is designated as the Market Maker for the company.
