Travels & Rentals: Key Investors Increase Stakes Following Rights Issue

Travels & Rentals Limited has reported that key investors have significantly increased their stakes in the company following the recent completion of its Rights Issue on March 9, 2026. The acquisitions by Devendra Bharat Parekh, Karuna Parekh, and Pushpa Bhaju have altered the company's shareholding pattern.

Devendra Bharat Parekh acquired 1,683,000 shares. His total holding is now 5,048,390 shares, representing 23.64% of the post-issue equity. This acquisition means his percentage holding decreased from 30.04% prior to the issue.

Karuna Parekh acquired 1,188,000 shares, bringing her total holding to 3,559,670 shares, or 16.66% of the company's equity. Her previous stake stood at 21.17%.

Pushpa Bhaju significantly boosted her stake by acquiring 3,000,000 shares. Her total holding is now 3,261,000 shares, accounting for 15.27% of the company's equity. Her previous stake was 2.33%.

These transactions occurred as the company's total equity share capital expanded from 11,202,685 shares to 21,354,685 shares due to the Rights Issue. This substantial increase of over 90% led to dilution for some major prior holders.

The disclosures are made in compliance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, highlighting significant shifts in the company's ownership structure. Such increased stakes, particularly Pushpa Bhaju's move from a minor shareholder to over 15%, often signal growing confidence or strategic accumulation of shares.

Travels & Rentals Limited, established in 1996, operates in the travel and mobility services sector. The company completed an Initial Public Offering (IPO) in August 2024, raising ₹12.24 crore and listing on the BSE SME platform. The recent Rights Issue, which closed in March 2026, aimed to raise capital and increase its equity base. Devendra Bharat Parekh is a promoter and the Managing Director of Travels & Rentals.

The company competes in the travel services sector with entities like TBO Tek, Easy Trip Planners, Yatra Online, and Thomas Cook (India). The market will be monitoring future shareholding disclosures and the utilization of the capital raised through the Rights Issue. No specific regulatory or governance risks were identified in the filings.