Exploring TBO Tek’s IPO:
If you are considering investing in the upcoming IPO of TBO Tek, here is what you need to know:
Opening and Closing Dates:
The IPO of TBO Tek will open for subscription on May 8 and close on May 10. The price band for the issue will be announced soon. The company filed its draft prospectus papers in November last year and received approval for the same earlier this month.
Details of the Issue:
- The issue includes fresh equity of Rs 400 crore and an offer for sale of up to 1.25 crore shares.
- Under the OFS, promoters Gaurav Bhatnagar, Manish Dhingra, LAP Travel, and other selling shareholders TBO Korea, Augusta TBO will offload the shares.
- TBO simplifies the business of travel for suppliers such as hotels, airlines, retail buyers such as travel agencies, and enterprise buyers that include tour operators, travel management companies.
- Its two-sided technology platform enables suppliers and buyers to transact seamlessly.
Company’s Reach and Recent Developments:
- The platform connects over 147,000 buyers across over 100 countries with over 1 million suppliers, as of June 2023.
- Leading investment firm General Atlantic had acquired a minority stake in TBO recently.
Financial Performance and Utilization of Proceeds:
- For the three months ended June, the company reported revenue from operations of Rs 345 crore and profit after tax of Rs 47 crore.
- Net proceeds from the fresh issue are proposed to be utilized towards growth and strengthening of the platform by adding new buyers and suppliers, unidentified inorganic acquisitions, and general corporate purposes.
Listing and Lead Managers:
- Axis Capital, Goldman Sachs (India), Jefferies India, and JM Financial are the book running lead managers of the issue.
- The equity shares are proposed to be listed on the NSE and the BSE.
Hot Take: Should you Invest in TBO Tek’s IPO?
Considering TBO Tek’s strong presence in the travel industry, recent acquisitions, and financial performance, the upcoming IPO could be an attractive investment opportunity. However, it is essential to conduct thorough research and consider your investment goals before making a decision.
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