TBO Tek’s initial public offering (IPO) is open for subscription today, May 8, 2024 (Wednesday). The business plans to raise Rs 1,150.81 crore through a mix of a new offering of 0.43 million shares and an offer for sale (OFS) of 12.5 million shares.
Tek Travels Private Limited, also known as TBO Tek Limited, is a travel distribution platform that was established in 2006. It offers multiple currencies, currency assistance, and travel inventory based on customer needs.
According to BSE data, TBO Tek IPO is valued at Rs. 1,550.81 crore. It includes a fresh issue of Rs. 400 crore and an offer-for-sale (OFS) of up to 12,508,797 equity shares, each with a face value of Re 1, by the promoters and other investors.
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Things you should know about the TBO Tek IPO are as follows:
Price band
The price range for TBO Tek’s initial public offering (IPO) is between Rs. 875 and Rs. 920 per share.
Listing and Allotment
Allotment will be finalized by May 13, and shares will be credited to demat accounts by May 14. The TBO Tek IPO is planned to be listed on the NSE and BSE on May 15.
Lot size
A minimum investment of Rs. 14,720 is required for retail investors to submit an application, with a minimum lot size of 16 shares. For qualified institutional buyers (QIB), the minimum lot size is 68 lots (1,088 shares), worth Rs. 1,000,960, and for non-institutional investors (NII), it is 14 lots (224 shares), worth Rs. 206,080.
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Grey Market Premium (GMP)
TBO Tek’s Grey Market Premium was Rs. 530, suggesting a possible listing gain of 57.61% at the upper price band of the IPO.
Financial performance
The profit after tax (PAT) increased by 340.4% and the topline of TBO Tek increased by 112.09% during the financial years ending March 31, 2022, and March 31, 2023.
Also Read : IRDAI asks IPO-Bound Go Digit to Pay Rs 1 Crore Fine. Here’s Why
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Disclaimer: The above content is for informational purposes only. The 1% News recommends consulting a SEBI-registered investment advisor before making any investment decision.
