https://www.travelboutiqueonline.com/TBO Tek has set a price range of Rs 875-920 per share for its initial public offering (IPO), which is scheduled to open on May 8. The company aims to raise approximately Rs 1,551 crore through this offering.
The IPO, closing on May 10, comprises fresh equity worth Rs 400 crore and an offer for sale (OFS) of up to 1.25 crore shares. The fresh funds will be used for expanding the supplier and buyer base, adding new lines for amplification of business, inorganic growth, and data monetization.
The promoters of the company are Ankush Nijhawan, Gaurav Bhatnagar, Manish Dhingra, and Arjun Nijhawan. The promoter stake currently stands at 51.26%, which will dilute post the IPO. The IPO will be managed by Axis Capital, Jefferies India, Goldman Sachs, and JM Financial; while KFIN Technologies will be the IPO registrar. The company plans to list the equity shares on the NSE and BSE.
The offering has designated 75% of the shares for qualified institutional buyers, 15% for non-institutional investors, and 10% for retail investors. Investors are required to bid for a minimum of 16 shares per lot, with options to increase in multiples.
TBO’s technology platform streamlines the interaction between suppliers like hotels and airlines, and retail buyers including travel agencies, as well as enterprise buyers like tour operators and travel management companies, facilitating seamless transactions.
TBO Tek Ltd, established in 2006, was formerly known as Tek Travels Private Ltd. TBO Tek Ltd offers a travel distribution platform, which syndicates and makes available travel inventory according to the specific and customized needs of its customers. Apart from travel services, TBO Tek Ltd also supports a wide range of currencies and also offers forex support to its customers. It directly deals with travel agencies and independent travel consultants, and facilitates their interaction with retail end-customers. It has sold over 7,500 destinations in 100 countries.
