TBO Tek IPO opens today: Check GMP, issue details for the ₹1,551-crore issue

TBO Tek IPO will close for subscription on May 10 and has a price band of ₹875-920 per share.

Updated on: May 8, 2024, 11:12:00 IST

By HT News Desk

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The initial public offering for TBO Tek opens for subscription today (May 8). The issue is a mix of a fresh issue of 43.48 lakh shares and an offer-for-sale of 1.25 crore shares. The company will finalise basis of allotment by May 13 and shares will be credited to demat accounts by May 14. TBO Tek IPO will be listed on the NSE and BSE on May 15.

TBO Tek IPO: The company will finalise basis of allotment by May 13 and shares will be credited to demat accounts by May 14.

TBO Tek IPO Details

The IPO will close for subscription on May 10 and has a price band of ₹875-920 per share. The issue is a a mix of fresh issue of shares worth ₹400 crore and an offer-for-sale of shares worth ₹1,150.81 crore.

TBO Tek IPO Objectives

Through the IPO, the company will raise funds of which ₹260 crore will be used for growth and strengthening its platform while ₹40 crore will be utilised for unidentified inorganic acquisitions. The remaining funds will be used for general corporate purposes, the company said.

TBO Tek IPO Lot size of the issue

Investors can bid for a minimum of 16 equity shares and multiples of 16 thereof. Minimum investment by retail investors would be ₹14,000 and at the upper end, the bidding amount will be ₹14,720.

TBO Tek IPO Company details

The travel distribution platform provides a wide range of offerings operating in over 100 countries. The company has shown profit growing 340 per cent on-year to ₹148.5 crore in FY23. Its revenue from operations increased 120.3 per cent to ₹1,064.6 crore compared to the previous year.

TBO Tek IPO Registrar of the IPO

Kfin Technologies is the registrar of the IPO while the book-running lead managers are Axis Capital, Jefferies India, Goldman Sachs (India) and JM Financial. The promoters of the company are Ankush Nijhawan, Gaurav Bhatnagar, Manish Dhingra, Arjun Nijhawan and LAP Travel.

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HT News Desk
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