Helloji Holidays to Launch 9.29 Lakh Share IPO on BSE SME

New Delhi, September 9, 2025 – Helloji Holidays Limited is coming out with an IPO of up to 9,28,800 equity shares of face value ₹10 each on the BSE SME platform. The issue comprises a market maker reservation portion of 48,000 equity shares and a net public issue of 8,80,800 equity shares. The issue will be made through the book-building route with allocations in the QIB, NII, and Retail categories.

Price band and exact opening dates are yet to be announced.

IPO Snapshot

As mentioned, the issue will be listed on the BSE SME platform. The issue comprises a fresh issue of 9,28,800 equity shares, out of which 48,000 shares are reserved for the market maker. This has led to a net issue of 8,80,800 shares for the investors.

The price band for the issue has not been announced yet. The registrar to the issue is Maashitla Securities Pvt. Ltd., and Khambatta Securities Ltd. is the lead manager. Helloji Holidays offers a range of services, including air ticketing, hotels, packages, MICE, visas, and insurance. Shakarpur, Delhi, is the functioning hub of the company, and it plans to strengthen its technology platform through proceeds from the issue.

Use of Proceeds

The money mobilized in the IPO will be utilized by the company for the following:

• Working capital requirements: ₹504 lakh
• Software development capital expenditure: ₹290 lakh
• General corporate purposes: Up to 15% of the gross proceeds or ₹10 crore, whichever is lower

Shareholding Pattern

Before the IPO, the company had 25,00,000 outstanding equity shares, 96% of which belonged to the promoters. Following the recent issue, the total equity base will increase to 34,28,800 shares. The holding of the promoters will decline to 70%, but will still hold majority status, indicating equity dilution after listing.

*Post-issue shareholding subject to final allotment. Promoters are Hitesh Kumar Singla, Anil Kumar Sharma, Nikhil Singla, and Nitin Dixit.

Financial Highlights (Standalone, ₹ lakh)

The company has consistently grown in the past three years. Operating revenues have increased from ₹1,717.92 lakh in FY23 to ₹2,596.77 lakh in FY24, and ₹2,812.36 lakh in FY25. Profitability has also improved significantly, with EBITDA increasing from a paltry ₹40.11 lakh in FY23 to ₹283.24 lakh in FY25, and margins also increased from 2.34% to around 10% in the past two years.

Net profit also saw a steep jump, from ₹19.55 lakh in FY23 to ₹209.64 lakh in FY25, while PAT margins increased from 1.14% to 7.45%. On the balance sheet side, net worth also increased from ₹19.51 lakh to ₹625.64 lakh during the same period as the company moved from ₹24.78 lakh net debt in FY23 to a comfortable net cash position of ₹359.73 lakh in FY25, as a sign of enhanced financial solvency.

Observation: The company has reported good revenue and profit growth over the last three years. EBITDA margins expanded to double digits in FY24–FY25, with the assistance of healthy cash flows.

Key Strengths

The company has multiple strengths, including a well-established full-service travel solutions in air, hotel, package, and visa businesses. In addition, the financial performance and position of the company have been improving over the years. The recent investments in technology for improving booking and corporate travel websites are expected to provide fair returns to the company in the near future.

Key Risks

• Customer concentration: The top 10 customers accounted for 41.88% of the revenue in FY25.
• Supplier concentration: Top 10 suppliers comprised 57.68% of FY25 purchases.
• Overreliance on third-party service providers with no long-term commitments.
• Previous delays in meeting ROC and GST filing.
• Macro economic shocks, pandemics, and seasonal variations are sensitive.
• Lease-based office infrastructure with renewal risk.
• Intellectual property and data security risks exposure.

Promoter Lock-in

• 20% of post-issue promoter holding in terms of capital will be locked up for 3 years.
• Remaining holdings are subject to lock-in periods determined by SEBI.

REF: https://www.bsesme.com/download/342246/SME_IPO InPrinciple/DRHPHELLOJI_20250908184541.pdf

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