TBO TEK Limited Announces Initial Public Offering to Open on 08th May, 2024

 

Mumbai: “TBO Tek Limited”, a technology-driven travel company, will open its initial public offering (IPO) for bidding on Wednesday, May 8, 2024, with the Offer closing on Friday, May 10, 2024. The IPO comprises a Fresh Issue and an Offer for Sale, with a Price Band set at ₹ 875 to ₹ 920 per Equity Share.

Investors can bid for a minimum of 16 Equity Shares and in multiples of 16 Equity Shares thereafter.

The IPO structure includes a Fresh Issue aggregating ₹ 4,000.00 million (₹ 400.00 crore) and an Offer for Sale by shareholders totaling up to 12,508,797 Equity Shares. The Anchor Investor Bidding Date is set for Tuesday, May 7, 2024.

Proceeds from the Fresh Issue will be used for various purposes, including expanding the TBO platform by attracting new buyers and suppliers. The allocated funds will also support technology investments, marketing activities, infrastructure growth, and other general corporate purposes.

TBO's platform connects over 159,000 Buyers across more than 100 countries with over one million Suppliers, offering a comprehensive range of travel services including hotels, airlines, car rentals, cruises, and insurance. The platform provides seamless transactions for Suppliers and Buyers, serving multiple travel segments such as leisure, corporate, and religious travel.

The Book Running Lead Managers for the IPO are Axis Capital Limited, Goldman Sachs (India) Securities Private Limited, Jefferies India Private Limited, and JM Financial Limited. The Offer also includes a reservation for subscription by eligible employees, with a total of ₹ 30 million (₹ 3 crore) set aside for this purpose.

Overall, TBO's IPO aims to strengthen its position in the travel industry, supporting the company's growth and expanding its reach. The Offer structure and utilization plans indicate a strong focus on technology, marketing, and business development to drive further success.