Gurugram based Online Travel Booking Applications Company TBO Tek files DRHP with SEBI for the proposed IPO; Key Details here

TBO Tek is into Technology Online Travel Booking Applications and is looking raise funds through Fresh Issue and Offer for Sale

TBO TekIPO: Fresh Issue of Equity shares aggregating up to Rs.400 crores. Offer of Sale of 15,635,996 Equity Shares through public issue IPO

TBO Tek IPO: TBO Tek Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 1 per share via initial public offering.

Promoters of TBO Tek are Ankush Nijhawan, Gaurav Bhatnagar, Manish Dhingra, Arjun Nijhawan and LAP Travel Private Limited. and holds 51.26% stake in the company.

Key Details:

• Initial Public Offer comprising of a Fresh Issue aggregating up to Rs. 400 crores and an Offer for Sale up to 15,635,996 equity shares.
• Axis Capital, Goldman Sachs (India), JM Financial, Jefferies India have been appointed as lead merchant bankers for the proposed IPO.
• It has appointed KFin Technologies Ltd. as Registrar and Share transfer Agent.
• Company is yet to finalize issue size and some other important details relating to the IPO.

Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 400 Crs and offer-for-sale (OFS) of up to 15,635,996 equity shares by Gaurav Bhatnagar, Manish Dhingra and LAP Travel (all promoters) offloading Up to 2,033,944 Equity Shares, Up to 572,056 Equity Shares and Up to 2,606,000 Equity Shares respectively. In addition to promoters Investors selling shareholders are TBO Korea and Augusta TBO who will offload Up to 3,767,200 Equity Shares and Up to 6,656,796 Equity Shares respectively...

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Objects of the issue:
1) Growth and strengthening of company's platform a) investment in technology and data solutions b) investment in subsidiaries for marketing and team building c) investment in sales and marketing activities., 2) inorganic acquisition opportunities, and 3) General corporate purpose.

About Company:
TBO TEK Limited (TTL), established in 2006 is into B2B online travel industry and was previously known as Tek Travels Private Limited. TBO TEK Limited provides travel services and specializes in designing and producing travel applications. These applications allow users to search for and book tickets, make online reservations, and secure hotel rooms through the internet. Some of their notable travel applications include TBO Holidays, Travel Boutique Online, TBO Academy, Roamer App, Techmaster, TBO Air, TBO Cruise, and TBO DMC.

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About Industry:
In 2023 the travel and tourism industry recovered, growing 18.2% year-on-year from 2022 to reach US$ 1.9 trillion, and expected to grow at a CAGR of 8.2% to reach US$ 2.6 trillion in 2027. (Source: 1Lattice Report) New age travel distribution platforms, connect a large and heterogenous audience of retail and enterprise travel buyers to a diverse group of travel suppliers (hotels, airlines, transfers amongst others) enabling a comprehensive range of transactions between the retail and enterprise travel buyers on the platform. Travel distribution platforms provide a large audience of buyers to the supplier community while providing global inventory reach to travel buyers.

Source: SEBI, BSE, NSE, DRHP, TBO Tek, Industry Data

Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.