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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 ₹920.00 per share . The lot size for an application is 16. The minimum amount of investment required by an retail is ₹14,000 (16 shares). 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 Date | May 8, 2024 to May 10, 2024 |
| Listing Date | May 15, 2024 |
| Face Value | ₹1 per share |
| Issue Price Band | ₹875 to ₹920 per share |
| Issue Price Final | ₹920 per share |
| Lot Size | 16 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,68,56,623 shares (aggregating up to ₹1,550.81 Cr) |
| Fresh Issue | 43,47,826 shares (aggregating up to ₹400.00 Cr) |
| Offer for Sale | 1,25,08,797 shares of ₹1 (aggregating up to ₹1,150.81 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 10,42,39,961 shares |
| Share Holding Post Issue | 10,85,87,787 shares |
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, 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 | Maximum 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%) |
| 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 |
TBO Tek IPO raises ₹696.51 crore from anchor investors. TBO Tek IPO Anchor bid date is May 7, 2024. TBO Tek IPO Anchor Investors list
| Bid Date | May 7, 2024 |
| Shares Offered | 75,70,807 |
| Anchor Portion Size (In Cr.) | 696.51 |
| Anchor lock-in period end date for 50% shares (30 Days) | June 12, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | August 11, 2024 |
TBO Tek IPO opens on May 8, 2024, and closes on May 10, 2024.
| IPO Open Date | Wed, May 8, 2024 |
| IPO Close Date | Fri, May 10, 2024 |
| Tentative Allotment | Mon, May 13, 2024 |
| Initiation of Refunds | Tue, May 14, 2024 |
| Credit of Shares to Demat | Tue, May 14, 2024 |
| Tentative Listing Date | Wed, May 15, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, May 10, 2024 |
Investors can bid for a minimum of 16 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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.
TBO Tek Limited's revenue increased by 112.09% and profit after tax (PAT) rose by 340.4% between the financial year ending with March 31, 2023 and March 31, 2022.
| 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 market capitalization of TBO Tek IPO is ₹9990.08 Cr.
KPI as of Sun, Dec 31, 2023.
| KPI | Values |
|---|---|
| RoNW | 30.76 |
| Price to Book Value | 18.66 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 14.25 | 18.93 |
| P/E (x) | 64.58 | 48.6 |
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
[Dilip Davda] The company is one of the leading travel distribution platform in the global travel and tourism industry having presence in over 100 countries and offering major travel related services under one roof. After suffering a setback for FY21 due to the Pandemic, it marked steady growth from FY22 onwards. Based on FY24 annualized earnings, the issue appears fully priced, but at lower P/E compared to listed peer. The company is poised for bright prospects as global travel segment is poised for growth as indicated by recent trends. Investors may park funds for the medium to long term rewards. Read detail review...
| Listing Date | May 15, 2024 |
| BSE Script Code | 544174 |
| NSE Symbol | TBOTEK |
| ISIN | INE673O01025 |
| Final Issue Price | ₹920 per share |
| BSE Listing Group | B |
TBO Tek Ltd.
E - 78,
South Extension
Part I,
New Delhi, New Delhi, 110009
Phone: +91 124 499 8999
Email: corporatesecretarial@tbo.com
Website: http://www.tbo.com/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: tbo.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
TBO Tek IPO is a main-board IPO of 1,68,56,623 equity shares of the face value of ₹1 aggregating up to ₹1,550.81 Crores. The issue is priced at ₹920 per share. The minimum order quantity is 16.
The IPO opens on May 8, 2024, and closes on 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 May 8, 2024 and closes on 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 Tuesday, May 14, 2024. Check the TBO Tek IPO allotment status.
The TBO Tek IPO listing date is on Wednesday, May 15, 2024.
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