Bookbuilding IPO | ₹1,551 Cr | Listed at BSE, NSE | Wed, May 8, 2024 - Fri, May 10, 2024
TBO Tek IPO is a book build issue of ₹1,550.81 crores. The issue is a combination of fresh issue of 0.43 crore shares aggregating to ₹400.00 crores and offer for sale of 1.25 crore shares aggregating to ₹1,150.81 crores.
TBO Tek IPO bidding started from May 8, 2024 and ended on May 10, 2024. The allotment for TBO Tek IPO was finalized on May 13, 2024. The shares got listed on BSE, NSE on May 15, 2024.
TBO Tek IPO price band is set at ₹920 per share. The lot size for an application is 16. The minimum amount of investment required by an retail is ₹14,720 (16 shares) (based on upper price). The lot size investment for sNII is 14 lots (224 shares), amounting to ₹2,06,080, and for bNII, it is 68 lots (1,088 shares), amounting to ₹10,00,960.
The issue includes a reservation of up to 32,608 shares for employees offered at a discount of ₹0.00 to the issue price.
Axis Capital Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to TBO Tek IPO RHP for detailed Information.
IPO Open
Wed, May 8, 2024
IPO Close
Fri, May 10, 2024
Issue Price
₹920 per share
Market Cap (Pre-IPO)
₹9,990.08 Cr
| IPO Date | 8 to 10 May, 2024 |
| Listed on | Wed, May 15, 2024 |
| Face Value | ₹1 per share |
| Price Band | ₹875 to ₹920 |
| Issue Price | ₹920 per share |
| Lot Size | 16 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,68,56,623 shares (agg. up to ₹1,551 Cr) |
| Fresh Issue | 43,47,826 shares (agg. up to ₹400 Cr) |
| Offer for Sale | 1,25,08,797 shares of ₹1 (agg. up to ₹1,151 Cr) |
| Share Holding Pre Issue | 10,42,39,961 shares |
| Share Holding Post Issue | 10,85,87,787 shares |
| BSE Script Code / NSE Symbol | 544174 / TBOTEK |
| ISIN | INE673O01025 |
TBO Tek IPO offers total 1,68,56,623 shares. Out of which 1,26,18,012 (74.85%) allocated to QIB, 50,47,205 (29.94%) allocated to QIB (Ex- Anchor), 25,23,602 (14.97%) allocated to NII 16,82,401 (9.98%) allocated to RII and 75,70,807 (44.91%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 1,26,18,012 (74.85%) | NA |
| − Anchor Investor Shares Offered | 75,70,807 (44.91%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 50,47,205 (29.94%) | NA |
| NII (HNI) Shares Offered | 25,23,602 (14.97%) | NA |
| − bNII > ₹10L | 16,82,401 (9.98%) | 7,510 |
| − sNII < ₹10L | 8,41,201 (4.99%) | 3,755 |
| Retail Shares Offered | 16,82,401 (9.98%) | 1,05,150 |
| Employee Shares Offered | 32,608 (0.19%) | NA |
| Total Shares Offered | 1,68,56,623 (100.00%) |
Investors can bid for a minimum of 16 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 16 | ₹14,720 |
| Retail (Max) | 13 | 208 | ₹1,91,360 |
| S-HNI (Min) | 14 | 224 | ₹2,06,080 |
| S-HNI (Max) | 67 | 1,072 | ₹9,86,240 |
| B-HNI (Min) | 68 | 1,088 | ₹10,00,960 |
TBO Tek IPO raises ₹696.51 crore from anchor investors. TBO Tek IPO Anchor bid date is May 7, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, May 7, 2024 |
| Shares Offered | 75,70,807 |
| Anchor Portion (₹ Cr.) | 696.51 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Jun 12, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Aug 11, 2024 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Established in 2006, TBO Tek Limited, formerly known as Tek Travels Private Limited, is a travel distribution platform that offers travel inventory according to the needs of its customers and supports a wide range of currencies along with forex help.
The company simplifies the travel business for suppliers such as hotels, airlines, car rentals, transfers, cruises, insurance, rail companies, and others, as well as for retail customers such as travel agencies and independent travel consultants, and corporate customers such as tour operators, travel management companies, online travel companies, super apps and loyalty apps through our two-sided technology platform that enables suppliers and customers to connect seamlessly.
The company's platform enables sellers to show and market their inventory and set prices for buyers. For buyers, the platform is an integrated, multi-currency, and multi-lingual, one-stop solution that helps them discover and book travel to destinations around the world, across various travel segments such as leisure, business and religious travel.
As at December 31, 2023, the company had sold over 7,500 destinations in more than 100 countries and employed over 2,000 people.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 3,754.05 | 2,557.93 | 1,271.43 | 576.16 |
| Total Income | 1,039.56 | 1,085.77 | 511.93 | 176.55 |
| Profit After Tax | 154.18 | 148.49 | 33.72 | -34.14 |
| NET Worth | 501.21 | 337.19 | 231.90 | 204.07 |
| Reserves and Surplus | 478.43 | 317.57 | 214.08 | 197.58 |
| Total Borrowing | 2.93 | 6.36 | 2.69 | |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Growth and strengthening of the platform by adding new Buyers and Suppliers | |
| 2 | a.investment in technology and data solutions by the Company | 135.00 |
| 3 | investment in the Material Subsidiary, Tek Travels DMCC, for onboarding platform users through marketing and promotional activities; and hiring sales and contracting personnel for augmenting the Supplier and Buyer base outside India | 100.00 |
| 4 | investment in sales, marketingand infrastructure to support organization’s growth plans in India | 25.00 |
| 5 | Unidentified inorganic acquisitions | 40.00 |
| 6 | General corporate purposes | 81.06 |
| KPI | Dec 31, 2023 |
|---|---|
| RoNW | 30.76 |
| Price to Book Value | 18.66 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 14.25 | 18.93 |
| P/E (x) | 64.58 | 48.6 |
| Promoter Holding | 51.26% | |
| Market Cap | ₹9,990.08 Cr. |
The TBO Tek IPO is subscribed 86.69 times on May 10, 2024 6:19:07 PM (Day 3). The public issue subscribed 25.72 times in the retail category, 125.51 times in the QIB category, and 50.6 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 125.51 | 50,47,204 | 63,34,76,128 |
| NII | 50.6 | 25,23,602 | 12,76,88,320 |
| bNII (bids above ₹10L) | 55.82 | 16,82,401 | 9,39,09,920 |
| sNII (bids below ₹10L) | 40.15 | 8,41,201 | 3,37,78,400 |
| Retail | 25.72 | 16,82,401 | 4,32,75,456 |
| Employee | 17.81 | 32,609 | 5,80,720 |
| Total | 86.69 | 92,85,816 | 80,50,20,624 |
Total Application : 23,81,094
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs fees and commissions (including any underwriting commission, brokerage and selling commission) | 46.04 |
| 2 | Commission/processing fee for SCSBs, Sponsor Banks and Bankers to the Offer. Brokerage, underwriting commission and selling commission and bidding charges for members of the Syndicate, Registered Brokers, RTAs and CDPs | 1.30 |
| 3 | Fees payable to Registrar to the Offer | 0.02 |
| 4 | Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses | |
| 5 | Printing and stationery | 1.36 |
| 6 | Fee payable to legal counsels | 6.33 |
| 7 | Advertising and marketing | 4.74 |
| 8 | Miscellaneous | 7.97 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹920.00 | ₹920.00 |
| Open | ₹1,380.00 | ₹1,426.00 |
| Low | ₹1,275.00 | ₹1,275.00 |
| High | ₹1,455.95 | ₹1,455.95 |
| Last Trade | ₹1,404.85 | ₹1,406.30 |
TBO Tek IPO is a main-board IPO of 1,68,56,623 equity shares of the face value of ₹1 aggregating up to ₹1,551 Crores. The issue is priced at ₹920 per share. The minimum order quantity is 16.
The IPO opens on Wed, May 8, 2024, and closes on Fri, May 10, 2024.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in TBO Tek IPO using UPI as a payment gateway. Zerodha customers can apply in TBO Tek IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in TBO Tek IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The TBO Tek IPO opens on Wed, May 8, 2024 and closes on Fri, May 10, 2024.
TBO Tek IPO lot size is 16, and the minimum amount required for application is ₹14,720.
You can apply in TBO Tek IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for TBO Tek IPO will be done on Monday, May 13, 2024, and the allotted shares will be credited to your demat account by Tue, May 14, 2024. Check the TBO Tek IPO allotment status.
The TBO Tek IPO listing date is on Wed, May 15, 2024.
