TBO Tek IPO opens on Wednesday: From price band to allotment date, here are all the details
The subscription window for TBO Teks IPO will be available from 10 am to 5 pm for three trading days ending on May 10, 2024.
Travel distribution platform TBO Tek's Rs 1,550-crore Initial Public offering (IPO) will open for subscription on May 8. The offer comprises a fresh issue of equity shares aggregating to Rs 400 crore and an offer-for-sale by certain shareholders of up to 12,508,797 equity shares, the company said.
Here are some of the key details about TBO Tek IPO:
TBO Tek IPO: Important dates
The subscription window for the IPO will be available from 10 am to 5 pm for three trading days ending on May 10, 2024.
Tentatively, shares of TBO Tek will be listed on the NSE and BSE on Wednesday, May 15.
TBO Tek IPO: Price band
The price band of the issue is fixed at Rs 875-920 per share.
TBO Tek IPO: Lot size
Bids can be made for a minimum of 16 equity shares and in multiples of 16 equity shares thereafter, the company said.
TBO Tek IPO: Allotment
Tentatively, the basis of the allotment of shares will be finalised on Monday, May 13. Subscribers will be able to check the allotment status on the website of Kfin Technologies Limited. Here's the direct link. https://ris.kfintech.com/ipostatus/
TBO Tek IPO: Fund utilisation
The company said it proposes to utilise the net proceeds of the fresh issue portion of the offer for growth and strengthening of its platform by adding new buyers and suppliers.
This will include Rs 135 crore towards investment in technology and data solutions by the company, and Rs 100 crore towards investment in its material subsidiary, Tek Travels DMCC, for onboarding platform users, among others.
About TBO Tek
TBO Tek is a leading travel distribution platform and provides services to buyers and suppliers in over 100 countries as of June 30, 2023. The company offers over 7,500 destinations and facilitates 33,000 bookings per day through its platform.
In October 2023, investment firm General Atlantic announced that it would acquire a minority stake in TBO.
Axis Capital Ltd, Goldman Sachs (India) Securities Private Ltd, Jefferies India Private Ltd , and JM Financial Ltd are the book-running lead managers of the issue.
(With inputs from agencies)
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