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LGT Business Connextions Ltd IPO

Status:

Overview

IPO date
19 Aug 2025 to 21 Aug 2025
Face value
₹ 10 per share
Price
₹ 107 to ₹107 per share
Issue Size
2,625,600 shares
(aggregating up to ₹ 28.09 Cr)
Allotment Date
21 Aug 2025
Listing at
NSE
Issue type
Fixed Price - SME
Sector

Objectives of LGT Business Connextions Ltd IPO

LGT Business Connextions Ltd IPO Strategy

About LGT Business Connextions Ltd

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T&C*

Strengths vs Risks of LGT Business Connextions Ltd

Know the pros & cons

Strengths

  • arrowManagement expertise.
  • arrowLeveraging the experience of our Promoters.
  • arrowCordial relations with our customers.
  • arrowCordial relations with our Employees and Professionals.

Risks

  • arrowThe company is significantly dependent on the sale of some of the services namely MICE Packages and Hotel Bookings. Its aggregate revenue from these services accounted for 99.90% and 99.93% for the period ended September 30, 2024 and for the financial year ended March 31, 2024 respectively. An inability to provide these services may adversely affect the company brand loyalty and consequently its business, results of operations, financial condition and cash flows.
  • arrowThe sale of the services is majorly concentrated in the southern states of India. Any adverse developments affecting its operations in such region, could have an adverse impact on the company business, financial condition, results of operations and cash flows.
  • arrowThe company derives a significant portion of its revenue from operations from the top 10 customers. Loss of one or more of these customers or a reduction in the amount of business the company obtain from them could have an adverse effect on its business, results of operations, financial condition and cash flows. Further, the company has entered service agreement for providing accommodation service only. Other than accommodation service the company has not entered into any agreements with any of the customers.
  • arrowThe company operations relies on third-party service providers, vendors, and on other travel suppliers. Any negligence in service provided by them, increase in input costs or failures to maintain strong relationships with them could disrupt the company operations which ultimately could adversely affect the quality of the service, pricing, results of operations and financial condition. Further, the company does not has long-term agreements with its travel suppliers.
  • arrowThe companny derives a significant portion of its revenue from operations from the corporate clients.
  • arrowThe company Registered and Corporate Office and other business premises through which its conduct the company business is not owned by it and the same have been taken on rent/leave & licence basis.
  • arrowIts group entities are involved in certain litigations which is currently pending.
  • arrowThe company has incurred indebtedness which exposes it to various risks which may have an adverse effect on its business and results of operations.
  • arrowThe company has experienced negative cash flows in previous years based on restated statement. Any operating losses or negative cash flows in the future could adversely affect its results of operations and financial conditions.
  • arrowIts operations is subject to high working capital requirements. The company inability to maintain an optimal level of working capital required for the business may impact its operations adversely.
  • arrowTrade receivable forms major parts of the current assets. Any failures on its part to effectively manage of the trade receivable may result in an adverse effect on its business, revenue from operations and financial condition, cash flow and liquidity.
  • arrowThe company has in the past entered into related party transactions and may continue to do so in the future. There can be no assurance that such transactions, individually or in the aggregate, will not have an adverse effect on the Company's financial condition and results of operations.
  • arrowThe Company has delayed in fielding of annual form AOC-4 for F.Y. 2016-17 due to non-payment of pay later challan. Such non-compliances / lapses may attract penalties and prosecution against the Company and its directors which could impact the financial position of the Company to that extent.
  • arrowThe company has a limited experience and operating history in certain of its businesses, particularly in hotels and holiday packages, and tourism packages, which makes it difficult to accurately assess the future growth prospects and may negatively affect its business, financial condition, cash flows and results of operations.
  • arrowIts business depends on the relationships with various travel suppliers and corporate customers as well as with IATA and any adverse changes in these relationships, or the company inability to enter into new relationships, could negatively affect its business and results of operations.
  • arrowAny disruption to the supply of air tickets, and demand for hotel accommodation and related services or other travel elements, or an increase in the prices of travel elements could adversely affect its operation, turnover and profitability.
  • arrowThe Offer Price and price to earnings ratio based on the Offer Price of the Company, may not be indicative of the market price of the Company on listing or thereafter.
  • arrowProviding visa and travel documentation services exposes a company to various risks that can impact its operations, customer trust, and legal standing.
  • arrowIf the fragmented travel industry in India becomes consolidated, its business, financial condition, cash flows and results of operations may be adversely affected. India's enormous size and population, and differences in customer behavior across the country have created a highly fragmented and diverse travel industry.
  • arrowThe company insurance coverage may not adequately protect it against losses and successful claims that exceed the insurance coverage could adversely affect its business, results of operations, cash flows and financial condition and diminish of the financial position.
  • arrowAny failures to maintain the quality of the company brand and reputation or protect of the intellectual property could have a material adverse effect on its business.
  • arrowThe company has received an auditors' remark in its audited financial statement for the year ended March 31, 2024 and for the period ended September 30, 2024.
  • arrowIn case of the company inability to obtain, renew or maintain the statutory and regulatory licenses, permits and approvals required to operate its business it may have a material adverse effect on the business.
  • arrowThe company inability to expand or effectively manage its sales and marketing network may have an adverse effect on the business, results of operations and financial condition.
  • arrowFailures to successfully implement the company business strategies may materially and adversely affect its business, prospects, financial condition and results of operations.
  • arrowIf its fail to maintain an effective system of internal controls, the company may not be able to successfully manage, or accurately report, its financial risks. Despite of the internal control systems, its may be exposed to operational risks, including fraud, petty theft and embezzlement, which may adversely affect the company reputation, business, financial condition, results of operations and cash flows.
  • arrowThe company operates in a competitive environment and may not be able to effectively compete due to various factors not under its control, which could have a material adverse effect on the business, results of operations and financial condition.
  • arrowAny failures to maintain quality of customer service, products and deal with customer complaints could materially and adversely affect its business and operating results.
  • arrowThe deployment of funds raised through this Offer shall not be subject to any Monitoring Agency and shall be purely dependent on the discretion of the management of the Company.
  • arrowThe objects of the Fresh Issue for which the funds are being raised have not been appraised by any bank or financial institutions. Any variation in the utilization of its Net Proceeds as disclosed in this Draft Prospectus would be subject to certain compliance requirements, including prior Shareholders' approval.
  • arrowThe company has not identified any alternate source of funding and hence any failure or delay on its part to mobilize the required resources or any shortfall in the Offer proceeds may delay the implementation schedule.
  • arrowThe travel industry is particularly sensitive to safety concerns, and terrorist attacks, regional conflicts, health concerns, natural calamities, regulatory restrictions or other catastrophic events could have a negative impact on the Indian travel industry and cause its business to suffer.
  • arrowThe company will not receive any proceeds from the Offer for Sale portion.
  • arrowThe company is promoted by First Generation Entrepreneurs.
  • arrowThe average cost of acquisition of Equity Shares by its Promoter could be lower than the Offer price.
  • arrowThe company Promoters, Directors including Independent Directors does not have any prior experience of directorship in the listed company.
  • arrowThe Promoters and related entities have interests in ventures, which is in businesses similar to the company and this may result in potential conflicts of interest with it.
  • arrowThe company will continue to be controlled by its Promoters after the completion of the Offer.
  • arrowThe company is heavily dependent on the Promoters and Key Managerial Personnel for the continued success of its business through their continuing services and strategic guidance and support.
  • arrowIf the company is unable to manage attrition and attract and retain skilled professionals, it may adversely affect its business prospects, reputation and future financial performance.
  • arrowThe Company has not paid any dividends till now and there can be no assurance that its will pay dividends in future. The company ability to pay dividends in the future will depend upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the financing arrangements.
  • arrowFailures or disruption of the information technology systems may adversely affect its business, financial condition, results of operations, cash flows and prospects.
  • arrowThe company may requires further equity issuance, which will lead to dilution of equity and may affect the market price of the Equity Shares or additional funds through incurring debt to satisfy its capital needs, which its may not be able to procure and any future equity offerings by it.
  • arrowThere is no guarantee that the Equity Shares issued pursuant to the Offer will be listed on the SME Platform of BSE Limited in a timely manner, or at all.
  • arrowThe Equity Shares have never been publicly traded and the Offer may not result in an active or liquid market for the Equity Shares.
  • arrowThe price of the Equity Shares may be highly volatile after the Offer.
  • arrowCertain key performance indicators for certain listed industry peers included in this Draft Prospectus have been sourced from public sources and there is no assurance that such financial and other industry information is complete.
  • arrowThird party industry and statistical data in this Draft Prospectus may be incomplete, incorrect or unreliable.
  • arrowWe have received an auditors' remark in our audited financial statement for the year ended March 31, 2024 and March 31, 2025. In the event of any action, we may face penalties or other consequences that could negatively impact our business, reputation, and financial performance.
  • arrowWe are significantly dependent on the sale of some of our services namely MICE Packages and Hotel Bookings. Our aggregate revenue from these services accounted for 99.92% and 99.93% for the financial year ended March 31, 2025 and March 31, 2024 respectively. An inability to provide these services may adversely affect our brand loyalty and consequently our business, results of operations, financial condition and cash flows.
  • arrowThe sale of our services is majorly concentrated in the southern states of India. Any adverse developments affecting our operations in such region, could have an adverse impact on our business, financial condition, results of operations and cash flows.
  • arrowWe derive a significant portion of our revenue from operations from our top 10 customers. Loss of one or more of these customers or a reduction in the amount of business we obtain from them could have an adverse effect on our business, results of operations, financial condition and cash flows. Further, we have entered service agreement for providing accommodation service only. Other than accommodation service we have not entered into any agreements with any of our customers
  • arrowOur operations rely on third-party service providers, vendors, and on other travel suppliers. Any negligence in service provided by them, increase in input costs or failure to maintain strong relationships with them could disrupt our operations which ultimately could adversely affect the quality of our service, pricing, results of operations and financial condition. Further, we do not have long-term agreements with our travel suppliers.
  • arrowWe derive a significant portion of our revenue from operations from our corporate clients. A downturn in the corporate sector, triggered by economic recessions or shifts in business priorities, could significantly reduce demand for corporate travel services, which may impact our business, financial condition and cash flow statement adversely.
  • arrowOur Registered and Corporate Office and other business premises through which we conduct our business are not owned by us and the same have been taken on rent/leave & licence basis. In the event of termination/ non-renewal of said rent agreements/leave and license agreement for registered office and branch offices, we may be required to vacate such premises which may cause disruption in our corporate affairs and business and impede our effective operations and thus can adversely affect our business, financial condition and result of operations.
  • arrowOur group entities are involved in certain litigations which are currently pending. Any adverse outcome of the litigation may have an adverse impact on the financials of our Company.
  • arrowWe have incurred indebtedness which exposes us to various risks which may have an adverse effect on our business and results of operations.
  • arrowWe have a limited experience and operating history in certain of our businesses, particularly in hotels and holiday packages, and tourism packages, which makes it difficult to accurately assess our future growth prospects and may negatively affect our business, financial condition, cash flows and results of operations.
  • arrowWe have experienced negative cash flows in previous years based on restated statement. Any operating losses or negative cash flows in the future could adversely affect our results of operations and financial conditions.
  • arrowOur operations are subject to high working capital requirements. Our inability to maintain an optimal level of working capital required for our business may impact our operations adversely.
  • arrowTrade receivable forms major parts of our current assets. Any failure on our part to effectively manage our trade receivable may result in an adverse effect on our business, revenue from operations and financial condition, cash flow and liquidity.
  • arrowWe have in the past entered into related party transactions and may continue to do so in the future. There can be no assurance that such transactions, individually or in the aggregate, will not have an adverse effect on our Company's financial condition and results of operations.
  • arrowOur Company has significant delayed in filing of annual form AOC-4 for F.Y. 2016-17 due to non-payment of pay later challan. In addition to this, our company has instances of delayed filing of MCA forms. Such non- compliances / lapses may attract penalties and prosecution against the Company and its directors which could impact the financial position of the Company to that extent.
  • arrowOur business depends on our relationships with various travel suppliers and corporate customers as well as with IATA and any adverse changes in these relationships, or our inability to enter into new relationships, could negatively affect our business and results of operations.
  • arrowAny disruption to the supply of air tickets, and demand for hotel accommodation and related services or other travel elements, or an increase in the prices of travel elements could adversely affect our operation, turnover and profitability.
  • arrowAny failure to maintain quality of customer service, products and deal with customer complaints could materially and adversely affect our business and operating results.
  • arrowOur Promoters and related entities have interests in ventures, which are in businesses similar to ours and this may result in potential conflicts of interest with us.
  • arrowIf we are unable to manage attrition and attract and retain skilled professionals, it may adversely affect our business prospects, reputation and future financial performance.
  • arrowThere have been instances of delays in payment of statutory dues, i.e. ESIC and EPF by the Company. In case of any delay in payment of statutory due in future by our Company, the Regulatory Authorities may impose monetary penalties on us or take certain punitive actions against our Company in relation to the same which may have adverse impact on our business, financial condition and results of operations.
  • arrowThere are certain discrepancies and non-compliances noticed in some of our financial reporting and/or records relating to filing of GST returns with the taxation department.
  • arrowDelay in acquisition of Property proposed to be purchased from IPO proceeds, currently mortgaged with Kotak Mahindra Bank Limited may adversely affect our business plans.
  • arrowThe Offer Price and price to earnings ratio based on the Offer Price of our Company, may not be indicative of the market price of the Company on listing or thereafter.
  • arrowProviding visa and travel documentation services exposes a company to various risks that can impact its operations, customer trust, and legal standing.
  • arrowIf the fragmented travel industry in India becomes consolidated, our business, financial condition, cash flows and results of operations may be adversely affected. India's enormous size and population, and differences in customer behavior across the country have created a highly fragmented and diverse travel industry.
  • arrowOur insurance coverage may not adequately protect us against losses and successful claims that exceed our insurance coverage could adversely affect our business, results of operations, cash flows and financial condition and diminish our financial position.
  • arrowAny failure to maintain the quality of our brand and reputation or protect our intellectual property could have a material adverse effect on our business.
  • arrowOur business operations are governed by various laws and regulations at both state and central government levels. We are required and will continue to be required to obtain and hold relevant licenses, approvals, and permits to conduct our operations. While we believe we have obtained the necessary approvals which are adequate to run our business, we cannot assure that there are no additional statutory or regulatory requirements we need to comply with or cannot assure that all requirements have been fully met. The licenses and permits we hold may come with specific conditions.
  • arrowOur inability to expand or effectively manage our sales and marketing network may have an adverse effect on our business, results of operations and financial condition.
  • arrowFailure to successfully implement our business strategies may materially and adversely affect our business, prospects, financial condition and results of operations.
  • arrowIf we fail to maintain an effective system of internal controls, we may not be able to successfully manage, or accurately report, our financial risks. Despite our internal control systems, we may be exposed to operational risks, including fraud, petty theft and embezzlement, which may adversely affect our reputation, business, financial condition, results of operations and cash flows.
  • arrowWe operate in a competitive environment and may not be able to effectively compete due to various factors not under our control, which could have a material adverse effect on our business, results of operations and financial condition.
  • arrowThe objects of the Fresh Issue for which the funds are being raised have not been appraised by any bank or financial institutions. Any variation in the utilization of our Net Proceeds as disclosed in this Prospectus would be subject to certain compliance requirements, including prior Shareholders' approval.
  • arrowWe have not identified any alternate source of funding and hence any failure or delay on our part to mobilize the required resources or any shortfall in the Offer proceeds may delay the implementation schedule.
  • arrowThe travel industry is particularly sensitive to safety concerns, and terrorist attacks, regional conflicts, health concerns, natural calamities, regulatory restrictions or other catastrophic events could have a negative impact on the Indian travel industry and cause our business to suffer.
  • arrowWe will not receive any proceeds from the Offer for Sale portion.
  • arrowOur company is promoted by First Generation Entrepreneurs.
  • arrowThe average cost of acquisition of Equity Shares by our Promoter could be lower than the Offer price.
  • arrowOur Promoters, Directors including Independent Directors does not have any prior experience of directorship in the listed company. Lack of any such experience amongst the board of directors may impact our Company's credibility and reputation among the investors and other stakeholders.
  • arrowWe will continue to be controlled by our Promoters after the completion of the Offer.
  • arrowWe are heavily dependent on our Promoters and Key Managerial Personnel for the continued success of our business through their continuing services and strategic guidance and support. The loss of any of our Promoters or the inability to recruit suitable or comparable replacements, could adversely affect our business prospectus and future financial performance.
  • arrowOur Company has not paid any dividends till now and there can be no assurance that we will pay dividends in future. Our ability to pay dividends in the future will depend upon our future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in our financing arrangements.
  • arrowFailure or disruption of our information technology systems may adversely affect our business, financial condition, results of operations, cash flows and prospects.
  • arrowWe may require further equity issuance, which will lead to dilution of equity and may affect the market price of our Equity Shares or additional funds through incurring debt to satisfy our capital needs, which we may not be able to procure and any future equity offerings by us.
  • arrowThere is no guarantee that the Equity Shares issued pursuant to the Offer will be listed on the SME Platform of BSE Limited in a timely manner, or at all.
  • arrowThe Equity Shares have never been publicly traded and the Offer may not result in an active or liquid market for the Equity Shares.
  • arrowThe price of the Equity Shares may be highly volatile after the Offer.
  • arrowCertain key performance indicators for certain listed industry peers included in this Prospectus have been sourced from public sources and there is no assurance that such financial and other industry information is complete.
  • arrowThird party industry and statistical data in this Prospectus may be incomplete, incorrect or unreliable.

LGT Business Connextions Ltd Peer Comparison

Understand the company’s industry standing

LGT Business Connextions Ltd
International Travel House Ltd
Face Value
10
10
Standalone / Consolidated
Standalone
Standalone
Total Income Rs. Cr.
100.8094
235.6274
EPS-Basis
---
---
EPS-Diluted
---
---
NAV Per Share
17.76
206.85
P/E-Basic EPS
14.38
14.15
P/E-Diluted EPS
---
---
RONW(%)
41.89
16.42
Latest NAV Period
---
---
Latest NAV
---
---
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The IPO opens on 19 Aug 2025 & closes on 21 Aug 2025.

LGT Business Connextions Limited was originally incorporated as a private Company in the name of 'LGT Business Connextions Private Limited' dated August 31, 2016, issued by the Registrar of Companies, Central Registration Centre. Subsequently, Company was converted into public Company and the name of the Company was changed to 'LGT Business Connextions Limited' vide fresh Certificate of Incorporation dated November 28, 2024, issued by the Central Registration Centre. The Company came up with the initial public offer by issuing 26,25,000 equity shares of Rs 10 each and raised Rs 28.09 crores, consisting a fresh issue of 23,62,800 equity shares aggregating to Rs 25.28 crores and the offer for sale of 2,62,800 equity shares aggregating to Rs 2.81 crores on August 12,, 2025. Company operate as a service aggregator in the travel and tourism industry. It connect and aggregate supply from third party hotels, airlines, car rentals, cruise companies and other travel service suppliers directly or through third party aggregator wherever required and offer a wide range of services to customers as per requirement. It offer comprehensive range of travel services and tourism packages to customers including MICE travel as well as cruise bookings, hotel bookings, in-transit arrangements, local sightseeing, and other tour and travels related services viz., customizing travel plans, travel arrangements for trade fairs etc. In addition to consolidated tour packages, it provide hotel accommodation, ticketing & visa processing services on standalone basis also. It design travel packages for both corporate/ groups and individuals for their domestic as well as international leisure travel. Further as a part of MICE (Meetings, Incentives, Conferences and Exhibitions) services, Company make travel arrangements for corporate clients to their business meetings, conferences and events and as an incentive for their employees and business partners. This serves as a distinctive gifting option, enhancing the significance of their special occasions like birthdays, weddings, or anniversaries.

LGT Business Connextions Ltd IPO will close on 21 Aug 2025.

  • Management expertise.
  • Leveraging the experience of our Promoters.
  • Cordial relations with our customers.
  • Cordial relations with our Employees and Professionals.

S.No Promoters Name Pre Issue Shares Pre Issue Percentage Post Issue Shares Post Issue Percentage
1 Wilfred Selvaraj 6309000 90 6046200 64.51
2 Padma Wilfred 696794 9.94 696794 7.43
3 Ashley Wilfred 701 0.01 701 0.01

  • The company is significantly dependent on the sale of some of the services namely MICE Packages and Hotel Bookings. Its aggregate revenue from these services accounted for 99.90% and 99.93% for the period ended September 30, 2024 and for the financial year ended March 31, 2024 respectively. An inability to provide these services may adversely affect the company brand loyalty and consequently its business, results of operations, financial condition and cash flows.
  • The sale of the services is majorly concentrated in the southern states of India. Any adverse developments affecting its operations in such region, could have an adverse impact on the company business, financial condition, results of operations and cash flows.
  • The company derives a significant portion of its revenue from operations from the top 10 customers. Loss of one or more of these customers or a reduction in the amount of business the company obtain from them could have an adverse effect on its business, results of operations, financial condition and cash flows. Further, the company has entered service agreement for providing accommodation service only. Other than accommodation service the company has not entered into any agreements with any of the customers.
  • The company operations relies on third-party service providers, vendors, and on other travel suppliers. Any negligence in service provided by them, increase in input costs or failures to maintain strong relationships with them could disrupt the company operations which ultimately could adversely affect the quality of the service, pricing, results of operations and financial condition. Further, the company does not has long-term agreements with its travel suppliers.
  • The companny derives a significant portion of its revenue from operations from the corporate clients.
  • The company Registered and Corporate Office and other business premises through which its conduct the company business is not owned by it and the same have been taken on rent/leave & licence basis.
  • Its group entities are involved in certain litigations which is currently pending.
  • The company has incurred indebtedness which exposes it to various risks which may have an adverse effect on its business and results of operations.
  • The company has experienced negative cash flows in previous years based on restated statement. Any operating losses or negative cash flows in the future could adversely affect its results of operations and financial conditions.
  • Its operations is subject to high working capital requirements. The company inability to maintain an optimal level of working capital required for the business may impact its operations adversely.
  • Trade receivable forms major parts of the current assets. Any failures on its part to effectively manage of the trade receivable may result in an adverse effect on its business, revenue from operations and financial condition, cash flow and liquidity.
  • The company has in the past entered into related party transactions and may continue to do so in the future. There can be no assurance that such transactions, individually or in the aggregate, will not have an adverse effect on the Company's financial condition and results of operations.
  • The Company has delayed in fielding of annual form AOC-4 for F.Y. 2016-17 due to non-payment of pay later challan. Such non-compliances / lapses may attract penalties and prosecution against the Company and its directors which could impact the financial position of the Company to that extent.
  • The company has a limited experience and operating history in certain of its businesses, particularly in hotels and holiday packages, and tourism packages, which makes it difficult to accurately assess the future growth prospects and may negatively affect its business, financial condition, cash flows and results of operations.
  • Its business depends on the relationships with various travel suppliers and corporate customers as well as with IATA and any adverse changes in these relationships, or the company inability to enter into new relationships, could negatively affect its business and results of operations.
  • Any disruption to the supply of air tickets, and demand for hotel accommodation and related services or other travel elements, or an increase in the prices of travel elements could adversely affect its operation, turnover and profitability.
  • The Offer Price and price to earnings ratio based on the Offer Price of the Company, may not be indicative of the market price of the Company on listing or thereafter.
  • Providing visa and travel documentation services exposes a company to various risks that can impact its operations, customer trust, and legal standing.
  • If the fragmented travel industry in India becomes consolidated, its business, financial condition, cash flows and results of operations may be adversely affected. India's enormous size and population, and differences in customer behavior across the country have created a highly fragmented and diverse travel industry.
  • The company insurance coverage may not adequately protect it against losses and successful claims that exceed the insurance coverage could adversely affect its business, results of operations, cash flows and financial condition and diminish of the financial position.
  • Any failures to maintain the quality of the company brand and reputation or protect of the intellectual property could have a material adverse effect on its business.
  • The company has received an auditors' remark in its audited financial statement for the year ended March 31, 2024 and for the period ended September 30, 2024.
  • In case of the company inability to obtain, renew or maintain the statutory and regulatory licenses, permits and approvals required to operate its business it may have a material adverse effect on the business.
  • The company inability to expand or effectively manage its sales and marketing network may have an adverse effect on the business, results of operations and financial condition.
  • Failures to successfully implement the company business strategies may materially and adversely affect its business, prospects, financial condition and results of operations.
  • If its fail to maintain an effective system of internal controls, the company may not be able to successfully manage, or accurately report, its financial risks. Despite of the internal control systems, its may be exposed to operational risks, including fraud, petty theft and embezzlement, which may adversely affect the company reputation, business, financial condition, results of operations and cash flows.
  • The company operates in a competitive environment and may not be able to effectively compete due to various factors not under its control, which could have a material adverse effect on the business, results of operations and financial condition.
  • Any failures to maintain quality of customer service, products and deal with customer complaints could materially and adversely affect its business and operating results.
  • The deployment of funds raised through this Offer shall not be subject to any Monitoring Agency and shall be purely dependent on the discretion of the management of the Company.
  • The objects of the Fresh Issue for which the funds are being raised have not been appraised by any bank or financial institutions. Any variation in the utilization of its Net Proceeds as disclosed in this Draft Prospectus would be subject to certain compliance requirements, including prior Shareholders' approval.
  • The company has not identified any alternate source of funding and hence any failure or delay on its part to mobilize the required resources or any shortfall in the Offer proceeds may delay the implementation schedule.
  • The travel industry is particularly sensitive to safety concerns, and terrorist attacks, regional conflicts, health concerns, natural calamities, regulatory restrictions or other catastrophic events could have a negative impact on the Indian travel industry and cause its business to suffer.
  • The company will not receive any proceeds from the Offer for Sale portion.
  • The company is promoted by First Generation Entrepreneurs.
  • The average cost of acquisition of Equity Shares by its Promoter could be lower than the Offer price.
  • The company Promoters, Directors including Independent Directors does not have any prior experience of directorship in the listed company.
  • The Promoters and related entities have interests in ventures, which is in businesses similar to the company and this may result in potential conflicts of interest with it.
  • The company will continue to be controlled by its Promoters after the completion of the Offer.
  • The company is heavily dependent on the Promoters and Key Managerial Personnel for the continued success of its business through their continuing services and strategic guidance and support.
  • If the company is unable to manage attrition and attract and retain skilled professionals, it may adversely affect its business prospects, reputation and future financial performance.
  • The Company has not paid any dividends till now and there can be no assurance that its will pay dividends in future. The company ability to pay dividends in the future will depend upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the financing arrangements.
  • Failures or disruption of the information technology systems may adversely affect its business, financial condition, results of operations, cash flows and prospects.
  • The company may requires further equity issuance, which will lead to dilution of equity and may affect the market price of the Equity Shares or additional funds through incurring debt to satisfy its capital needs, which its may not be able to procure and any future equity offerings by it.
  • There is no guarantee that the Equity Shares issued pursuant to the Offer will be listed on the SME Platform of BSE Limited in a timely manner, or at all.
  • The Equity Shares have never been publicly traded and the Offer may not result in an active or liquid market for the Equity Shares.
  • The price of the Equity Shares may be highly volatile after the Offer.
  • Certain key performance indicators for certain listed industry peers included in this Draft Prospectus have been sourced from public sources and there is no assurance that such financial and other industry information is complete.
  • Third party industry and statistical data in this Draft Prospectus may be incomplete, incorrect or unreliable.
  • We have received an auditors' remark in our audited financial statement for the year ended March 31, 2024 and March 31, 2025. In the event of any action, we may face penalties or other consequences that could negatively impact our business, reputation, and financial performance.
  • We are significantly dependent on the sale of some of our services namely MICE Packages and Hotel Bookings. Our aggregate revenue from these services accounted for 99.92% and 99.93% for the financial year ended March 31, 2025 and March 31, 2024 respectively. An inability to provide these services may adversely affect our brand loyalty and consequently our business, results of operations, financial condition and cash flows.
  • The sale of our services is majorly concentrated in the southern states of India. Any adverse developments affecting our operations in such region, could have an adverse impact on our business, financial condition, results of operations and cash flows.
  • We derive a significant portion of our revenue from operations from our top 10 customers. Loss of one or more of these customers or a reduction in the amount of business we obtain from them could have an adverse effect on our business, results of operations, financial condition and cash flows. Further, we have entered service agreement for providing accommodation service only. Other than accommodation service we have not entered into any agreements with any of our customers
  • Our operations rely on third-party service providers, vendors, and on other travel suppliers. Any negligence in service provided by them, increase in input costs or failure to maintain strong relationships with them could disrupt our operations which ultimately could adversely affect the quality of our service, pricing, results of operations and financial condition. Further, we do not have long-term agreements with our travel suppliers.
  • We derive a significant portion of our revenue from operations from our corporate clients. A downturn in the corporate sector, triggered by economic recessions or shifts in business priorities, could significantly reduce demand for corporate travel services, which may impact our business, financial condition and cash flow statement adversely.
  • Our Registered and Corporate Office and other business premises through which we conduct our business are not owned by us and the same have been taken on rent/leave & licence basis. In the event of termination/ non-renewal of said rent agreements/leave and license agreement for registered office and branch offices, we may be required to vacate such premises which may cause disruption in our corporate affairs and business and impede our effective operations and thus can adversely affect our business, financial condition and result of operations.
  • Our group entities are involved in certain litigations which are currently pending. Any adverse outcome of the litigation may have an adverse impact on the financials of our Company.
  • We have incurred indebtedness which exposes us to various risks which may have an adverse effect on our business and results of operations.
  • We have a limited experience and operating history in certain of our businesses, particularly in hotels and holiday packages, and tourism packages, which makes it difficult to accurately assess our future growth prospects and may negatively affect our business, financial condition, cash flows and results of operations.
  • We have experienced negative cash flows in previous years based on restated statement. Any operating losses or negative cash flows in the future could adversely affect our results of operations and financial conditions.
  • Our operations are subject to high working capital requirements. Our inability to maintain an optimal level of working capital required for our business may impact our operations adversely.
  • Trade receivable forms major parts of our current assets. Any failure on our part to effectively manage our trade receivable may result in an adverse effect on our business, revenue from operations and financial condition, cash flow and liquidity.
  • We have in the past entered into related party transactions and may continue to do so in the future. There can be no assurance that such transactions, individually or in the aggregate, will not have an adverse effect on our Company's financial condition and results of operations.
  • Our Company has significant delayed in filing of annual form AOC-4 for F.Y. 2016-17 due to non-payment of pay later challan. In addition to this, our company has instances of delayed filing of MCA forms. Such non- compliances / lapses may attract penalties and prosecution against the Company and its directors which could impact the financial position of the Company to that extent.
  • Our business depends on our relationships with various travel suppliers and corporate customers as well as with IATA and any adverse changes in these relationships, or our inability to enter into new relationships, could negatively affect our business and results of operations.
  • Any disruption to the supply of air tickets, and demand for hotel accommodation and related services or other travel elements, or an increase in the prices of travel elements could adversely affect our operation, turnover and profitability.
  • Any failure to maintain quality of customer service, products and deal with customer complaints could materially and adversely affect our business and operating results.
  • Our Promoters and related entities have interests in ventures, which are in businesses similar to ours and this may result in potential conflicts of interest with us.
  • If we are unable to manage attrition and attract and retain skilled professionals, it may adversely affect our business prospects, reputation and future financial performance.
  • There have been instances of delays in payment of statutory dues, i.e. ESIC and EPF by the Company. In case of any delay in payment of statutory due in future by our Company, the Regulatory Authorities may impose monetary penalties on us or take certain punitive actions against our Company in relation to the same which may have adverse impact on our business, financial condition and results of operations.
  • There are certain discrepancies and non-compliances noticed in some of our financial reporting and/or records relating to filing of GST returns with the taxation department.
  • Delay in acquisition of Property proposed to be purchased from IPO proceeds, currently mortgaged with Kotak Mahindra Bank Limited may adversely affect our business plans.
  • The Offer Price and price to earnings ratio based on the Offer Price of our Company, may not be indicative of the market price of the Company on listing or thereafter.
  • Providing visa and travel documentation services exposes a company to various risks that can impact its operations, customer trust, and legal standing.
  • If the fragmented travel industry in India becomes consolidated, our business, financial condition, cash flows and results of operations may be adversely affected. India's enormous size and population, and differences in customer behavior across the country have created a highly fragmented and diverse travel industry.
  • Our insurance coverage may not adequately protect us against losses and successful claims that exceed our insurance coverage could adversely affect our business, results of operations, cash flows and financial condition and diminish our financial position.
  • Any failure to maintain the quality of our brand and reputation or protect our intellectual property could have a material adverse effect on our business.
  • Our business operations are governed by various laws and regulations at both state and central government levels. We are required and will continue to be required to obtain and hold relevant licenses, approvals, and permits to conduct our operations. While we believe we have obtained the necessary approvals which are adequate to run our business, we cannot assure that there are no additional statutory or regulatory requirements we need to comply with or cannot assure that all requirements have been fully met. The licenses and permits we hold may come with specific conditions.
  • Our inability to expand or effectively manage our sales and marketing network may have an adverse effect on our business, results of operations and financial condition.
  • Failure to successfully implement our business strategies may materially and adversely affect our business, prospects, financial condition and results of operations.
  • If we fail to maintain an effective system of internal controls, we may not be able to successfully manage, or accurately report, our financial risks. Despite our internal control systems, we may be exposed to operational risks, including fraud, petty theft and embezzlement, which may adversely affect our reputation, business, financial condition, results of operations and cash flows.
  • We operate in a competitive environment and may not be able to effectively compete due to various factors not under our control, which could have a material adverse effect on our business, results of operations and financial condition.
  • The objects of the Fresh Issue for which the funds are being raised have not been appraised by any bank or financial institutions. Any variation in the utilization of our Net Proceeds as disclosed in this Prospectus would be subject to certain compliance requirements, including prior Shareholders' approval.
  • We have not identified any alternate source of funding and hence any failure or delay on our part to mobilize the required resources or any shortfall in the Offer proceeds may delay the implementation schedule.
  • The travel industry is particularly sensitive to safety concerns, and terrorist attacks, regional conflicts, health concerns, natural calamities, regulatory restrictions or other catastrophic events could have a negative impact on the Indian travel industry and cause our business to suffer.
  • We will not receive any proceeds from the Offer for Sale portion.
  • Our company is promoted by First Generation Entrepreneurs.
  • The average cost of acquisition of Equity Shares by our Promoter could be lower than the Offer price.
  • Our Promoters, Directors including Independent Directors does not have any prior experience of directorship in the listed company. Lack of any such experience amongst the board of directors may impact our Company's credibility and reputation among the investors and other stakeholders.
  • We will continue to be controlled by our Promoters after the completion of the Offer.
  • We are heavily dependent on our Promoters and Key Managerial Personnel for the continued success of our business through their continuing services and strategic guidance and support. The loss of any of our Promoters or the inability to recruit suitable or comparable replacements, could adversely affect our business prospectus and future financial performance.
  • Our Company has not paid any dividends till now and there can be no assurance that we will pay dividends in future. Our ability to pay dividends in the future will depend upon our future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in our financing arrangements.
  • Failure or disruption of our information technology systems may adversely affect our business, financial condition, results of operations, cash flows and prospects.
  • We may require further equity issuance, which will lead to dilution of equity and may affect the market price of our Equity Shares or additional funds through incurring debt to satisfy our capital needs, which we may not be able to procure and any future equity offerings by us.
  • There is no guarantee that the Equity Shares issued pursuant to the Offer will be listed on the SME Platform of BSE Limited in a timely manner, or at all.
  • The Equity Shares have never been publicly traded and the Offer may not result in an active or liquid market for the Equity Shares.
  • The price of the Equity Shares may be highly volatile after the Offer.
  • Certain key performance indicators for certain listed industry peers included in this Prospectus have been sourced from public sources and there is no assurance that such financial and other industry information is complete.
  • Third party industry and statistical data in this Prospectus may be incomplete, incorrect or unreliable.

The Issue type of LGT Business Connextions Ltd is Fixed Price - SME.

The minimum application for shares of LGT Business Connextions Ltd is 2400.

The total shares issue of LGT Business Connextions Ltd is 2625600.

Initial public offering of upto 26,25,600 equity shares of Rs. 10/- each ("Equity Shares") of LGT Business Connextions Limited ("LGT" or the "Company") for cash at an offer price of Rs. 107/- per equity share (the "Offer Price"), aggregating to Rs.28.09 crores ("the Offer"), comprising a fresh offer of up to 23,62,800 equity shares aggregating to Rs. 25.28 crores by the company ("Fresh Offer") and an offer for sale of up to 2,62,800 equity shares by Wilfred Selvaraj ("the Promoter Selling Shareholder" or "Selling Shareholder") aggregating to Rs.2.81 crores ("Offer for Sale"). Out of the offer, 1,32,000 equity shares aggregating to Rs.1.41 crores will be reserved for subscription by market maker ("Market Maker Reservation Portion"). The offer less the market maker reservation portion i.e., offer of 24,93,600 equity shares of face value of Rs.10/- each at an offer price of Rs. 107/- per equity share aggregating to Rs.26.68 crores (is hereinafter referred to as the "Net Offer"). The offer and the net offer will constitute 28.01% and 26.60% respectively of the post offer paid up equity share capital of the company.