TBO Tek Limited IPO: An Overview and Company Insight
TBO Tek Limited, previously known as Tek Travels Private Limited, was founded in 2006. It has emerged as a leading travel distribution platform, offering travel inventory that caters to the needs of its customers. With the help of Forex, the platform also supports a wide range of currencies.
TBO Tek’s platform aims to simplify the travel business for suppliers such as airlines, car rentals, hotels, insurance, rail companies, and more. The company also deals with retail customers such as independent travel consultants and enterprise customers such as tour operators and travel management companies. For buyers, TBO Tek is a multi-currency and multi-lingual platform where they can find and book travel destinations for various segments such as leisure, religious, and business travel. As of December 31, 2023, TBO Tek has sold over 7,500 destinations across more than 100 countries and has a dedicated team of 2,000 people 2,000 people (1,717 on-roll and 283 off-roll).
Grey Market Premium Analysis and IPO Timelines: TBO Tek Limited IPO
| Date | GMP |
| May 6 | ₹520 |
| May 5 | ₹510 |
| May 4 | ₹520 |
| May 3 | ₹460 |
| May 2 | ₹405 |
The last update for TBO Tek Limited IPO was on May 6, 2024, at 12:58. The GMP is ₹520. The expected listing price of TBO Tek Limited IPO, with a price band of 920.00, is ₹1442 (cap price + today’s GMP). 56.74% is the anticipated percentage gain or loss per share.
Pricing Details and Lot Size – TBO Tek Limited IPO
The price band for TBO Tek Limited is ₹875 to ₹920 per share.
Book-running Lead Managers and Registrar – TBO Tek Limited IPO
Axis Capital Limited, Jefferies India Private Limited, Goldman Sachs (India) Securities Private Limited, and Jm Financial Limited are the book-running lead managers to the issue with Kfin Technologies Limited as the registrar for the issue.
Offer for Sale and IPO Size Breakdown – TBO Tek Limited IPO
Valued at Rs 1,550.81 crores, the TBO Tek IPO is a book-built issue which comprises a fresh issue of 0.43 crore shares amounting to Rs 400.00 crores and an offer for sale of 1.25 crore shares amounting to Rs 1,150.81 crores.
IPO Timelines at a Glance – TBO Tek Limited
| Event | Date |
| IPO Opening Date | May 8, 2024 |
| IPO Closing Date | May 10, 2024 |
| IPO Allotment Date | May 13, 2024 |
| Initiation of Refunds | May 14, 2024 |
| Credit of Shares to Demat | May 14, 2024 |
| IPO Listing Date | May 15, 2024 |
Utilisation of Fresh Issuance and Technological Advancements – TBO Tek Limited IPO
The offer’s objectives are to:
- Expanding the base of the Suppliers and the Buyers.
- Increase the platform’s value with the addition of new lines of businesses.
- Selective acquisitions and building synergies with the existing platform to drive inorganic growth.
- Offering tailored solutions to Suppliers and Buyers by leveraging the procured data.
Conclusion
With a presence in over 100 countries, TBO Tek is a leading player in the global travel and tourism industry. Catering to travel suppliers and buyers alike, the company provides major travel-related services under a single roof. TBO Tek has shown strong growth from FY2022, after a setback during FY2021 due to the pandemic.
The revenue surged by 112.09% and profit after tax (PAT) skyrocketed by 340.4% between the financial year ending with March 31, 2023 and March 31, 2022. This growth underscores the company’s ability to capitalise on emerging opportunities in the travel industry and deliver value to its stakeholders.
As of December 31, 2023, TBO Tek has sold over 7,500 destinations and has a dedicated team of 2,000 people (1,717 on-roll and 283 off-roll).
Frequently Asked Questions – TBO Tek Limited
What does TBO Tek Limited specialise in?
TBO Tek’s platform aims to simplify the travel business for suppliers such as airlines, car rentals, hotels, insurance, rail companies, and more. The company also deals with retail customers such as independent travel consultants and enterprise customers such as tour operators and travel management companies. For buyers, TBO Tek is a multi-currency and multi-lingual platform where they can find and book travel destinations for various segments such as leisure, religious, and business travel.
What is the primary purpose of TBO Tek Limited’s IPO?
The offer’s objectives are to:
- Expanding the base of the Suppliers and the Buyers.
- Increase the platform’s value with the addition of new lines of businesses.
- Selective acquisitions and building synergies with the existing platform to drive inorganic growth.
- Offering tailored solutions to Suppliers and Buyers by leveraging the procured data.
Who are the lead managers for TBO Tek Limited’s IPO?
Axis Capital Limited, Jefferies India Private Limited, Goldman Sachs (India) Securities Private Limited, and Jm Financial Limited are the book-running lead managers to the issue with Kfin Technologies Limited as the registrar for the issue.
How is the IPO structured in terms of new issuance and offer for sale (OFS)?
Valued at Rs 1,550.81 crores, the TBO Tek IPO is a book-built issue which comprises a fresh issue of 0.43 crore shares amounting to Rs 400.00 crores and an offer for sale of 1.25 crore shares amounting to Rs 1,150.81 crores.
What is the lot size and minimum investment for retail investors in TBO Tek Limited’s IPO?
The minimum lot size is 16 shares. Retail investors are required to make a minimum investment of ₹14,720.
What is the price band for TBO Tek Limited’s IPO?
The price band for TBO Tek Limited IPO is ₹875 to ₹920 per share.
How has the Grey Market Premium (GMP) trend for TBO Tek Limited’s IPO?
The last update for TBO Tek Limited IPO was on May 6, 2024, at 12:58. The GMP is ₹520. The expected listing price of TBO Tek Limited IPO, with a price band of 920.00, is ₹1442 (cap price + today’s GMP). 56.74% is the anticipated percentage gain or loss per share.
When does the IPO open and close for application?
TBO Tek Limited IPO will open for subscription on May 8, 2024 and close May 10, 2024.
When is the allotment date for the TBO Tek Limited IPO?
The allotment date is set for May 13, 2024.
When is TBO Tek Limited expected to be listed on the stock exchanges?
The equity shares of TBO Tek Limited IPO are anticipated to be listed on May 15, 2024, on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
