Kanga & Co and Desai & Diwanji have emerged as the Travomint IPO legal advisors as SNVA Traveltech Limited moves toward a public listing through India’s confidential pre-filing route. The Noida-based firm filed its pre-filed draft red herring prospectus with SEBI and the stock exchanges on March 30. The transaction draws two of India’s established capital markets practices into one of the travel-tech sector’s more closely watched IPO preparations.
Introduction
SNVA Traveltech Ltd, the operator of online travel platform Travomint, has submitted draft papers for an Initial Public Offering through the confidential pre-filing route. Incorporated in 2017, SNVA Traveltech Ltd. is engaged in operating an online travel platform, Travomint, which provides technology-driven travel booking solutions to a global customer base, enabling users to book flights, hotels, car rentals, airport transfers, and travel insurance through its website and mobile applications. The company has established a presence in over 50 countries, supported by multi-currency payment systems and multilingual interfaces, catering to a diverse international clientele.
The company opted for the confidential pre-filing route, which allows it to engage with SEBI for initial feedback on its draft document without it being publicly disclosed — a route increasingly favoured by companies seeking more flexibility in their IPO preparations and responding to market conditions before a public filing. The equity shares are proposed to be listed on NSE and BSE. Details such as issue size, valuation, and offer structure have not been disclosed at this stage.
Legal Teams Involved
Two firms advised on the transaction, each representing distinct principals.
Kanga & Co advised SNVA Traveltech Limited (Travomint) on the proposed IPO. The transaction team consisted of:
- Chetan Thakkar — Senior Partner
- Pooja Sharma — Associate Partner
- Kartikeya Anshu — Associate
- Seerat Khera — Associate
- Siddharth Jani — Associate
Desai & Diwanji (Gurugram) advised the Book Running Lead Managers on the proposed IPO of equity shares of SNVA Traveltech Limited, for which the pre-filed draft red herring prospectus has been filed confidentially with SEBI. The transaction team consisted of:
- Tushar Dey — Senior Partner
- Akshay Bhagchandani — Partner
- Mahimna Dave — Associate
- Shivansh Anand — Associate
- Ria Jain — Associate
- Ankit Rao — Associate
For more deals involving these firms, see the Deal Meter.
Significance and Impact
The filing is notable for SNVA Traveltech’s choice of the confidential pre-filing mechanism, which SEBI introduced in November 2022. This route lets SNVA Traveltech receive regulator feedback on its Draft Red Herring Prospectus without immediate public attention, allowing the company to refine financials and business plans, test market interest, and potentially adjust or withdraw plans without public damage or revealing sensitive data to rivals.
India’s online travel market is expected to hit USD 42.56 billion by 2033, with a 10.54% annual growth rate — a landscape in which Travomint competes with established names like MakeMyTrip, EaseMyTrip, and Yatra Online. The dual-counsel structure — with Kanga & Co on the issuer side and Desai & Diwanji acting for the book running lead managers — reflects the standard division of legal representation seen in large Indian main-board IPO processes. The proposed listing on both NSE and BSE underlines the company’s ambition for broad market reach.
SNVA Traveltech’s strategic use of the confidential filing route reflects a well-thought-out plan for its IPO, with the company aiming to improve its public debut, manage market volatility, and present a strong case to investors.
The Travomint proposed IPO marks a significant step for SNVA Traveltech Limited as it seeks to access public capital markets through a carefully managed confidential process. Kanga & Co and Desai & Diwanji bring established capital markets expertise to the issuer and the book running lead managers, respectively. Further details on issue size, price band, and IPO dates were not disclosed.
Disclaimer: This article is for informational purposes only and does not constitute legal advice. It is based on the details provided and publicly available sources.
