Travel tech firm Travelstack Tech, the parent company of budget hotel chain FabHotels, has filed its draft red herring prospectus (DRHP) with SEBI to raise funds through an initial public offering (IPO).
According to the DRHP, the proposed IPO will comprise a fresh issue of equity shares worth up to ₹250 crore and an offer-for-sale (OFS) of up to 2.69 crore shares by existing shareholders. The final issue size and pricing will be determined closer to the launch.
Several prominent investors are set to pare their stakes via the OFS, including Accel, Goldman Sachs, Panthera Growth Partners, Anupam Mittal and Qualcomm, reflecting partial exits by early backers even as the company taps public markets.
Travelstack Tech operates TravelPlus, a travel-tech focused SaaS platform offering solutions across hotel inventory management, pricing and distribution. The company is also the owner of FabHotels, one of India’s largest budget hotel brands, with a strong presence across major urban markets.
Proceeds from the fresh issue are expected to be used to strengthen technology capabilities, support growth across both the SaaS and hospitality businesses, and meet general corporate requirements.
The DRHP filing comes amid a sharp rebound in India’s travel and hospitality sector, driven by rising domestic travel demand and increasing adoption of tech-led booking platforms. The IPO marks a key milestone for Travelstack as it prepares for its next phase of growth.
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