Discover TBO Tekโs Maiden Public Offer
Are you looking to invest in the crypto market? TBO Tek has recently announced a price band of Rs 875-920 per share for its maiden public offer, which opens for subscription on May 8. The company aims to raise around Rs 1,551 crore from the issue. Here are some key details you need to know before diving into this opportunity:
Understanding TBO Tekโs IPO Details
TBO Tekโs IPO closes on May 10, including fresh equity of Rs 400 crore and an offer for sale (OFS) of up to 1.25 crore shares. Promoters like Gaurav Bhatnagar, Manish Dhingra, LAP Travel, TBO Korea, and Augusta TBO will be offloading their shares. Hereโs how the IPO allocation looks like:
โ 75% reserved for qualified institutional buyers
โ 15% for non-institutional investors
โ Remaining 10% for retail investors
Investors can bid for a minimum of 16 shares in one lot and multiples thereafter. The net proceeds from the fresh issue will be utilized for the growth and strengthening of the platform by adding new buyers and suppliers, unidentified inorganic acquisitions, and general corporate purposes.
TBO Tekโs Innovative Travel Platform
TBO simplifies the business of travel for suppliers such as hotels, airlines, travel agencies, tour operators, and other participants in the travel industry. The two-sided technology platform enables seamless transactions between suppliers and buyers, connecting over 147,000 buyers across more than 100 countries with over one million suppliers.
โ The company has attracted investments from leading firms like General Atlantic
โ TBO is set to capitalize on the expected recovery of the travel and tourism industry in 2023, with estimated growth figures
TBO Tekโs Financial Performance
For the nine months ended December 2023, TBO Tek reported a significant improvement in revenue from operations, with a 31% year-on-year (YoY) growth to Rs 1,024 crore. The profit after tax (PAT) also saw a healthy increase of 28% YoY to Rs 154 crore, showcasing the companyโs strong financial performance.
TBO Tekโs IPO Listing and Management
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 BSE, providing investors with a transparent and regulated trading platform for TBO Tekโs shares.
Hot Take on TBO Tekโs IPO Opportunity
As you evaluate potential investment opportunities in the crypto market, TBO Tekโs maiden public offer presents a promising opportunity to tap into the travel industryโs growth. With a robust platform, strong financial performance, and support from leading investment firms, TBO Tekโs IPO could be a lucrative investment for those looking to diversify their portfolio.
Cindy Dutta emerges as a polymath of the crypto realm, seamlessly blending the roles of analyst, researcher, and editorial virtuoso. Navigating the intricate labyrinth of cryptocurrencies, Cindy unfurls intricate patterns of digital assets, resonating harmoniously with minds of all kinds. Her knack for unraveling enigmatic crypto intricacies intertwines effortlessly with her editorial finesse, transmuting complexity into an immersive symphony of comprehension.