TBO Tek IPO opened for retail investors on May 08 at a price band of Rs 875 to Rs 920 per equity share.
About TBO Tek
TBO Tek is a travel distribution platform offering travel inventory according to customers’ needs and supports a wide range of currencies along with forex help. The company was earlier known by the name of Tek Travels Pvt. Ltd. The company’s main job is to simplify the travel business of suppliers such as airlines, car rentals, hotels, cruises, insurance, and others. They also cater their services to retail customers such as travel agencies and independent travel consultants. TBO Tek has a two-sided technology platform that connects suppliers and customers.
Issue Size
The company wants to raise a total of Rs 1,550.81 crore through a combination of fresh issue and an offer for sale.
Market rally leads to higher regulatory fees for stock exchanges BrandWagon Exclusive: 80% of Indians increase time on Open Internet, The Trade Desk report reveals PFC gains over 5%; brokerages hike target price by as much as 28% Ceigall India allotment to be finalised on August 6; Here are 8 things to know ahead of listing
Allotment and Listing
TBO Tek’s shares are expected to finalise by May 13, with listing to be on, tentatively, May 15 on both the bourses – NSE and BSE.
Lot Size
A retail buyer has to bid for a minimum of one lot containing 16 shares, which amounts to Rs 14,720.
Book Runners
Axis Capital, Jefferies India, Goldman Sachs (India) Securities, and JM Financial are working as the book-running lead managers for the IPO of TBO Tek.
Registrar
Kfin Technologies is the registrar for the issue.
Objective of IPO
The company will utilise the raised proceeds to expand its supplier and buyer base, adding new business lines, acquisitions, and leveraging data procured to offer bespoke travel solutions to our buyers and suppliers.
Expert’s Take
“TBO Tek being the prominent travel distribution platform takes advantage of an opportunity by aggregating global travel supply and global travel demand on one platform and by enabling buyers and suppliers to transact seamlessly. The business is currently seeing a huge tailwind from the booming travel and tourism sector post the pandemic which is currently fueling their growth, and businesses like this have a huge operating leverage as the business grows. We recommend subscribing to this IPO given the huge growth and margin expansion potential,” said Master Capital Services in an IPO note.
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