SBC Exports is planning to spin off its wholly owned subsidiary, Mauji Trip, by listing it on the exchange through an initial public offering (IPO) in the current financial year. The company’s Board of directors gave the green light to the proposal to launch a public issue. Details and terms of the issue size will be announced in due course, pending approval, the company stated.
The strategic move aims to unlock value for shareholders, bolster the capital base of Mauji Trip, and support its future growth plans. The proposed IPO for Mauji Trip is anticipated to significantly boost its brand visibility and provide the financial momentum necessary to scale its operations. The proposal is contingent on obtaining all relevant regulatory approvals and ensuring compliance with applicable laws and regulations.
In addition to tour operator services, SBC Exports also has business interests in information technology and provides manpower supply and services. The board has given the thumbs up for the re-appointment of Govind Ji Gupta as Managing Director for another five-year term, pending shareholder approval at the upcoming Annual General Meeting. Recently, the company forged a strategic partnership with Amazon India to list and sell its apparel products on the Amazon online platform. Discussions are also underway with other major online retail platforms such as Flipkart, Myntra, and Meesho to explore further opportunities for listing the full range of apparel products.