TBO Tek Limited, formerly known as Tek Travels Private Limited, is a travel distribution platform that was founded in 2006.
Here are the 10 key things to know about TBO Tek IPO:TBO Tek IPO date: The issue opens for subscription on Wednesday, May 8, and closes on Friday, May 10.
TBO Tek IPO lot size: The IPO's lot size is 16 equity shares and in multiples of 16 equity shares thereafter.
Lead Manager and Registrar of TBO Tek IPO: The book running lead managers of the TBO Tek IPO are Axis Capital Limited, Jefferies India Private Limited, Goldman Sachs (India) Securities Private Limited, and Jm Financial Limited.
TBO Tek IPO GMP today: TBO Tek IPO grey market premium is +520.
TBO Tek IPO opens for subscription tomorrow (Wednesday, May 8). TBO Tek Limited, formerly known as Tek Travels Private Limited, is a travel distribution platform that was founded in 2006. It provides a broad range of currencies along with currency assistance and offers travel inventory based on the demands of its clients.
Through the two-sided technology platform, which enables seamless communication between suppliers and customers, the company streamlines the travel industry for suppliers like hotels, airlines, car rentals, transfers, cruises, insurance, rail companies, and others, as well as for retail customers like travel agencies and independent travel consultants and corporate customers like tour operators, travel management companies, online travel companies, super apps, and loyalty apps.
Also Read: TBO Tek IPO to open on May 8; here's what GMP signals ahead of subscription
Sellers are allowed to establish pricing for buyers and display and market their products using the company's platform. Customers may explore and book travel to places worldwide in a variety of travel segments, including leisure, business, and religious travel, with the platform's integrated, multi-currency, multi-lingual, one-stop shop.
View Full Image TBO Tek IPO details.
The floor price is 875 times the face value of the equity shares and the cap price is 920 times the face value of the equity shares. The price to earning ratio at the floor price is 62.19 times and at the cap price is 65.39 times based on the diluted EPS for financial year ended as March 31, 2023.
The company's promoters are Ankush Nijhawan, Arjun Nijhawan, Manish Dhingra, and Gaurav Bhatnagar.
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The company's globally listed counterparts include Travel CTM (P/E of 28.34), Webjet Ltd (P/E of 213.16), and RategainTravel Technologies Ltd (P/E of 113.31), which is its Indian listed peer.
Between March 31, 2022, and March 31, 2023, TBO Tek Limited's profit after tax (PAT) climbed by 340.4%, while its revenue increased by 112.09%.
Here are the 10 key things to know about TBO Tek IPO:
TBO Tek IPO date: The issue opens for subscription on Wednesday, May 8, and closes on Friday, May 10.
TBO Tek IPO price band: The issue's price band has been fixed in the range of ₹875 to ₹920 per equity share of face value of Re 1.
TBO Tek IPO lot size: The IPO's lot size is 16 equity shares and in multiples of 16 equity shares thereafter.
Anchor investors: The allocation to anchor investors for TBO Tek IPO is scheduled to take place today (Tuesday, May 7).
TBO Tek IPO details: TBO Tek IPO, which is worth ₹1,550.81 crore, comprises a fresh issue of ₹400 crore, and an offer-for-sale (OFS) of up to 12,508,797 equity shares of face value of Re 1 each by the promoters and other investors.
Promoters of the firm Manish Dhingra, LAP Travel, and Gaurav Bhatnagar announced that 52.12 lakh shares will be sold through OFS. 72.96 lakh shares of the firm will be sold by its other investors, TBO Korea and Augusta TBO, who own respective stakes of 11.06 percent and 19.53 percent.
The Red Herring Prospectus for TBO Tek's initial public offering (IPO) states that public shareholders possess 46.43 percent of the firm, while corporate promoters own 51.26 percent of this online travel distributor.
Also Read: TBO Tek IPO: Price band set at ₹875-920 per share; check issue details here
With a 19.53 percent ownership holding, Augusta TBO is the company's largest public stakeholder. 15,635,994 company shares, or 15% of the firm's total paid-up capital, are owned by General Atlantic.
TBO Korea has 11,523,854 shares in the firm, or 11.06 percent of its total ownership. 98.54 percent of the firm is owned by promoters and public shareholders, while the remaining 2.31 percent is owned by the TBO ESOP Trust, a non-promoter and non-public shareholder institution.
TBO Tek IPO objectives: The firm plans to use the net funds from the offering to finance the following goals: growing the network of suppliers and buyers; enhancing the platform's value by introducing new business categories; utilising data acquired to provide customised travel solutions to our suppliers and buyers; and inorganic development through strategic acquisitions and creating synergies with our current platform.
TBO Tek IPO listing date and allotment details: Tentatively, TBO Tek IPO basis of allotment of shares will be finalised on Monday, May 13, and the company will initiate refunds on Tuesday, May 14, while the shares will be credited to the demat account of allottees on the same day following refund. TBO Tek share price is likely to be listed on BSE and NSE on Wednesday, May 15.
Lead Manager and Registrar of TBO Tek IPO: The book running lead managers of the TBO Tek IPO are Axis Capital Limited, Jefferies India Private Limited, Goldman Sachs (India) Securities Private Limited, and Jm Financial Limited. The issue's registrar is Kfin Technologies Limited.
TBO Tek IPO reservation: The IPO has reserved not less than 75% of the net offer for the QIBs, not more than 15% of the net offer for the NIIs, and not more than 10% of the net offer for the retail investors. Employees have been reserved equity shares aggregating up to ₹3 crore.
TBO Tek IPO GMP today: TBO Tek IPO grey market premium is +520. This indicates TBO Tek share price were trading at a premium of ₹520 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, TBO Tek IPO expected listing price was indicated at ₹1,440 apiece, which is 56.52% higher than the IPO price of ₹920.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Also Read: General Atlantic-backed TBO Tek IPO opens next week. GMP, price, size, review, other details of upcoming IPO
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.
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