TBO Tek IPO; Online Travel Booking Applications company IPO to begin from May 08; 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 Tek to raise around Rs 1,551 crores through public issue IPO

TBO Tek IPO is a public offering of shares by Ankush Nijhawan, Gaurav Bhatnagar, Manish Dhingra, Arjun Nijhawan and LAP Travel Private Limited.. The IPO will open on May 08 and will close on May 10. The price band is ₹875 to ₹920 per share and the lot size is 16 shares. The issue size is ₹1,550.81 crore. The shares are expected to be listed on NSE, BSE on May 15 (^). Some additional information that you may find useful are: Over 7500 destinations sold in 100 countries, over 41000+ bookings per day through the platform. 2000 global headcount. : (**) - based on higher price band (^) indicative date

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

Key Pointers of TBO Tek IPO:

Promoters of the company are Ankush Nijhawan, Gaurav Bhatnagar, Manish Dhingra, Arjun Nijhawan and LAP Travel Private Limited. Currently promoters hold 51.26% stake in the company. While post-equity promoters stake will be 44.41%

Company has not undertaken Pre-IPO placement.

• Company aims to raise between Rs 1,495 to 1,551 crs through this IPO.
• The net proceeds of the issue will be utilized to 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
• Anchor bidding is expected to commence one day prior to the IPO dates. Tentative anchor bidding date would be 07-May-24.
• Price band for the IPO has been fixed at Rs 875 to 920 per share and bid lot are in multiple of 16 shares. The implied market cap post-issue at Rs 9,521 to 9,990 crs.
• As per the tentative schedule, allotment date of this IPO is most likely on May 13 and share are expected to be listed on NSE, BSE on May 15.
• As per DRHP, company do not have any exact comparable listed peers in India or abroad. However, for the purposes of this Red Herring Prospectus, the following companies (Indian and foreign) have been considered as peers of the company, considering similarities with certain aspects of our business. Companies includes Rategain Travel Technologies in India and Travel CTM, Webjet Ltd. in Global peers category.
• Axis Capital, Goldman Sachs (India), JM Financial, Jefferies India has been appointed as Merchant Banker to the issue. KFin Technologies Ltd. has been appointed as official registrar of the issue.

About TBO Tek Limited

TBO Tek Limited

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.

Over 7500 destinations sold in 100 countries, over 41000+ bookings per day through the platform. 2000 global headcount.

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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, IPO Status, 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.