UHM Vacation IPO
Market Sentiment
The overall score is a weighted average of the parts below, so one weak part can sit inside a strong overall reading.
IPO Details
Day-wise Subscription (times subscribed)
| Category | Day 1 | Day 2 | Day 3 | Day 4 | Day 5 |
|---|---|---|---|---|---|
| QIB | 0.00x | 1.00x | 1.00x | 1.00x | 0.80x |
| NII | 0.26x | 0.43x | 0.43x | 0.43x | 0.97x |
| bNII > ₹10L | 0.29x | 0.47x | 0.47x | 0.47x | 0.97x |
| sNII 2-10L | 0.29x | 0.47x | 0.47x | 0.47x | 0.97x |
| Retail | 0.17x | 0.93x | 0.93x | 0.93x | 3.88x |
| Total | 0.22x | 0.67x | 0.67x | 0.67x | 2.42x |
Market Lot Size
IPO Reservation
Financial Analysis
Financial Data
Financial Performance
| Metric | 2023 | 2024 | 2025 | Feb 2026 |
|---|---|---|---|---|
| Revenue | 20.49 | 30.66 | 40.20 | 45.29 |
| Expense | 20.33 | 24.84 | 32.01 | 36.18 |
| Profit (PAT) | 0.11 | 5.27 | 7.18 | 8.05 |
| Total Assets | 3.60 | 19.34 | 39.06 | 43.41 |
Peer Comparison
| Company | EPS | P/E |
|---|---|---|
| LGT Business Connextions Limited | 7.44 | 10.88 |
| Helloji Holidays Limited | 8.60 | 14.41 |
| International Travel House Limited | 33.96 | 11.01 |
Promoters & Holding Pattern
Promoters: Izhar Ahmad and Rubeena Khatoon I Ahmed
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 48,96,236 | 97.35% |
| Promoter Holding Post Issue | 66,45,836 | 65.40% |
Strengths & Risks
- Revenue grew 31% in the latest reported year.
- Solid profit margin — 17.9%.
- Strong return on equity — 41%.
- Low leverage — debt/equity of 0.02.
- Mostly fresh capital — proceeds fund the company's growth, not an exit.
- Weak institutional (QIB) demand — the QIB portion was only 0.80x subscribed at close.
- Lists on the exchange's SME platform, where trading is usually thinner than on the main board — selling at your price can be harder.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
About UHM Vacation
UHM Vacation Limited, founded in 2009, is one of the leading travel and tourism platforms that provides a diverse range of travel services via its single technology platform. The firm partners with tour and travel providers to offer various travel services, such as airline tickets, hotel accommodations, cruises, car rentals, visa assistance, transfers, tours, and holiday packages via a single platform. The firm provides all these services to travel agencies, corporate travel managers, and independent travel agents on its platforms. Through these platforms, users can easily find, compare prices and options, and book travel services quickly. Its platform’s main aim is to connect travel service providers and travel buyers under one roof. With the help of this platform, agents can easily find, book, and compare travel services and suppliers, and manage their inventory, pricing, and availability.
Company Contact Information
UHM Vacation Ltd., C 715, Dattani Plaza, Near E W Ind Est, Safed Pool, Saki Naka, Andheri (East),, Mumbai, Maharashtra, 400072
Objects of the Issue
| Purpose | Amount (Cr) |
|---|---|
| To Meet the Capital expenditure | 10.47 |
| Funding for Marketing and Promotional Activities | 4.90 |
| To Meet Working Capital Requirements | 6.42 |
| General Corporate Purpose | - |
Resources & Documents
UHM Vacation IPO - Quick Take
UHM Vacation has set a price band of Rs 157–Rs 166 per share for an issue size of Rs 36 crore. The stock listed with a 20.00% discount versus its issue price on June 11, 2026.
The issue is promoted by Izhar Ahmad and Rubeena Khatoon I Ahmed with GYR Capital Advisors Pvt. Ltd. acting as lead manager. Net proceeds will primarily be used towards to Meet the Capital expenditure (Rs 10 crore) and funding for Marketing and Promotional Activities (Rs 5 crore).
On fundamentals, the company is posting revenue growth of 31.1%, a profit margin of 17.9%, return on equity of 41.4% in its most recent reported period. Listed peers in this segment include LGT Business Connextions Limited (P/E 10.88x) and Helloji Holidays Limited (P/E 14.41x) — useful reference points when evaluating the issue's pricing relative to where the broader sector is trading.
On our data-signal score, the combined signals for this issue currently read mixed — some indicators read positively and others do not. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Frequently Asked Questions
UHM Vacation IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. The summary at the top of this page compares the last pre-listing GMP with how the shares actually listed.
See the full UHM Vacation GMP history and trend, or learn how grey market premium works and how reliable it is.
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