TBO TEK IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: May 09, 2024The Travel service provider company TBO TEK is proposing an IPO worth Rs. 1,550.81 crore. The travel company has expanded to global ports and has emerged as an acknowledged platform in the industry.
Today in this composition, we will study TBO TEK and TBO TEK IPO including subject matters like the background of the company, its offering, promoters and management, IPO Date, IPO price, IPO Size, subscription status, allotment status, GMP, and other crucial elements associated with the IPO.
After this TBO TEK IPO Review, investors will be able to decide on investing in the IPO.
| Face Value | Rs 1 |
| Price Band | Rs 875 to Rs 920 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 16 Shares |
| Listing Date | May 15, 2024 |
| Offer for Sale | Rs.1,150.81 Crore |
| Fresh Issue | Rs.400.00 Crore |
| IPO Size | Rs.1,550.81 Crore |
| Tick Size | 1 |
TBO TEK IPO Overview
With TBO TEK IPO, the company is planning to raise funds of Rs. 2,100 crore. The IPO will be a combination of a Fresh Issue worth Rs. 900 crore and an Offer for Sale worth Rs. 1,800 crore. With the IPO, some of the promoters and existing shareholders will be offering their shares in the IPO.
As per the DRHP, the company might also consider raising Rs. 1,800 crore through a pre-IPO placement before the filing of Red Herring Prospectus. If the pre-IPO placement is completed, the offer will be reduced to such an extent by the company.
TBO TEK IPO Important Dates
| Events | Date |
| IPO Opening Date | May 8, 2024 |
| IPO Closing Date | May 10, 2024 |
| Basis of Allotment Finalization | May 13, 2024 |
| Refunds Initiation | May 14, 2024 |
| Credit of Shares to Demat Account | May 14, 2024 |
| Share Listing Date | May 15, 2024 |
The company has filed DRHP documents with SEBI in December 2021 and now the company is waiting for approval for the same.
In pursuance of the IPO, the company has converted its status from a private company to a public company, and, subsequently, the name of the company was changed from TBO Tek Private Limited to TBO Tek Limited.
TBO TEK IPO Date will be declared by the company after its DRHP is approved.
TBO TEK IPO Price, Size, Share Offerings
| Face Value | Rs.1 |
| Price Band | Rs 875 to Rs 920 |
| Offer for Sale | Rs.1,150.81 Crore |
| Fresh Issue | Rs.400.00 Crore |
| IPO Size | Rs.1,550.81 Crore |
TBO TEK IPO Size is of Rs. 1,550.81 crore. The entity is one of the leading travel services companies. TBO TEK will be offering equity shares via the fresh issue and share sale.
The TBO TEK IPO Price, price band, and a minimum lot will be determined by the company in consultation with BRLMs. The face value of the offered shares is Rs. 1 each.
The IPO might also comprise a factor of pre-IPO placement.
TBO TEK IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
| Not Trading in Grey Market yet | |||
TBO TEK IPO GMP is not available right now as the IPO is not live. We will update the information as soon as there is any activity in regards to TBO TEK IPO GMP.
Grey Market is the unofficial trading market where the trading takes place before the listing of the offered shares on the stock exchange. GMP carries an essential significance in an IPO, whether it is the main board IPO or SME IPO.
TBO TEK IPO Subscription Status
| Day / Date | QIB | NII | RII | Emp | Total Subscription |
| 1st Day – 8th May | 0.01x | 2.11x | 3.38x | 2.36x | 1.20x |
| 2nd Day – 9th May | 0.17x | 8.20x | 10.08x | 6.58x | 4.17x |
| 3rd Day – 10th May | |||||
| Shares Offered or Net Issue | 5,047,204 | 2,523,602 | 1,682,401 | 32,609 | 16,856,623 |
The TBO TEK IPO Subscription will take place in the following manner:
- For QIBs – 75%
- For NII – 15%
- For Retail Investors – 10%
The opening and closing dates for placing bids will be declared by the company after DRHP approval. The company will undertake the IPO as per the regulations formed by SEBI in this regard.
The investors will their respective bids within the bracket of the price band. And after the IPO is closed, the final price of the shares will be determined.
The Lead Managers of the issue are:
- Axis Capital Limited
- Credit Suisse Securities (India) Private Limited
- Jefferies India Private Limited
- JM Financial Limited
The details in respect of the price band and subscription will be made available in a short time.
TBO TEK IPO Allotment Status
The basis of TBO TEK IPO Allotment is not determined yet.
The registrar to the offer is KFin Technologies Private Limited.
Book Running Lead Managers to the issue are Axis Capital Limited, Credit Suisse Securities (India) Private Limited, Jefferies India Private Limited, and JM Financial Limited. The equity shares of the company are proposed to be listed on BSE and NSE.
TBO TEK IPO Live Performance
To check out the TBO TEK IPO Performance, click on the link and stay updated with the TBO TEK IPO Price. The updated price will be available once the IPO is life in the market.
Subscribe to TBO TEK IPO – Open Free Demat Account Now!
TBO TEK – Company Review
Founded as Tek Travels Private Limited, TBO Tek Limited kicked off its journey in 2006 to facilitate a better travel experience to customers. The company started with a single product and in its expedition of more than 15 years, it has raised itself to a position as one of the market leaders.
The company offers a platform for catering travel services. They play as an interface between the buyers and the suppliers.
The new-age technology first company TBO Tek attempts to offer a seamless and convenient experience where the customers can plans their travel effortlessly on their fingerprints. The company has a global reach which means its customers can not only use the facility for domestic purposes but also internationally.
Products or Services
With TBO Tek Limited, one can take care of their trips easily from booking air tickets to hotel rooms, rail tickets, holiday packages, renting cars, sightseeing, cruising, cargo, etc. The platform is a one-stop solution for many requirements. Not able to find something from the above options, the proprietary platform of TBO Tek also offers customized choices taior made for the specific demands of customers.
Travel applications of TBO Tek includes TBO Academy, TBO Holidays, TBO DMC, Travel Boutique Online, TBO Air, Roamer App, and TBO Cruise.
The company has spread its presence in over 100 countries and deals in 56 currencies. To offer a better understanding, the platform of the company can be used in 11 languages.
Promoters and Holding
The Promoters of TBO TEK Limited are:
- Ankush Nijhawan
- Gaurav Bhatnagar
- Lap Travel Private Limited
- Manish Dhingra
The management of the company comprises of:
- Ravindra Dhariwal holds the position of Chairman and Independent Director
- Gaurav Bhatnagar holds the position of Joint Managing Director
- Ankush Nijhawan holds the position of Joint Managing Director
- Udai Dhawan holds the position of Non-Executive Nominee Director
- Rahul Bhatnagar holds the position of Independent Director
- Bhaskar Pramanik holds the position of Independent Director
- Anuranjita Kumar holds the position of Independent Director
- Vikas Jain holds the position of Chief Financial Officer
- Shakti Goel holds the position of Chief Data and Analytical Officer
- Aarish Khan holds the position of Chief Commercial Officer for India Business
- Sandyp Bhattacharya holds the position of Chief People Officer
- Pradeep Paliwal holds the position of Chief Product Technology Officer
- K. Balaji holds the position of General Manager and Chief Strategy Officer – International Business
Is TBO TEK good for Investment?
TBO TEK is a travel service provider. The company’s platform caters diversified needs of its customers in respect to travel. The 15-year-old company has set global footprints and has a presence in 100+ countries.
The company embraces technology and offers to connect travel buyers and suppliers. The company started with a single product as an air ticketing company and now extends to a larger base comprising of services like hotels, rail, holiday packages, car rentals, transfers, sightseeing, cruise, and cargo.
The platform is designed in such a way that the customers can smoothly search and make bookings at their convenience. The platform is user-friendly and can be operated in 11 different languages.
TBO TEK Financial Statements
| Amount (in INR & Million) | ||||
| 30-Sept-21 | Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Assets | 9,130.25 | 5,761.62 | 7,929.99 | 8,262.52 |
| Revenue | 1,858.73 | 1,765.49 | 5,883.44 | 4,457.60 |
| Expense | 1,633.62 | 1,768.08 | 5,001.70 | 4,054.97 |
| Profit After Tax | 177.43 | (341.44) | 729.28 | 263.33 |
The last financial year ended 2021in had a downturn effect on the financial deliveries of the company. With total revenue of Rs. 176.55 crore, the company a loss of Rs. 34.14 crore. The COVID-19 disrupted the travel operations globally and TBO Tek could not escape its impact.
Before COVID-19, the revenues for the financial year 2019 and 2020 were Rs. 445.76 crore and Rs. 588.34 crore respectively. Also, the profits for the financial year 2019 and 2020 were Rs. 26.33 crore and Rs. 72.93.
Now, as amid the surge of the third wave, the world is trying to get back, the company has also shown positive results in the six months
statements where it clocked a profit of Rs. 17.74 crore from the revenue of Rs. 185.87 crore.
The EPS of the company also has been adversely affected from Rs. 7 in 2020 to Rs. 2.53 in 2021.
We can hope that the TBO Tek IPO will underpin the growth of the company and implement its operations successfully.
| Earnings per Equity Share (in Million) | ||||
| 30-Sept-21 | Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Basic & Diluted | 1.70 | (3.28) | 7.00 | 2.53 |
TBO TEK IPO Review
TBO has put forth a global platform for its consumers which facilitates and simplifies their buying and selling travel needs via their travel partners located across the world.
The journey which started with a single product has now formed a global chain and has emerged as a leading B2A (Business to Agents) travel portal across Africa, India, America, UK & Europe, Asia Pacific, and the Middle East. The company continues to expand its reach to new destinations and offer more variety to the customers.
The Rs. 1,550.81 crore TBO Tek IPO mainly introduce to expand its diversions and encourage inorganic growth of the company.
COVID-19 has hit the travel industry and the adverse effects of the same are still present. Amid all the restrictions and disruptions, it can be difficult for the company to grow at the anticipated streak.
TBO TEK IPO Details
Here are a few more details you need to know before investing in TBO TEK IPO –
TBO TEK IPO Issue Object
The TBO TEK has proposed diverse objectives for making the IPO offer and some of the objectives are:
- Growing and strengthening our platform by adding new Buyers and Suppliers
- Strategic acquisitions and investments towards inorganic growth
- General corporate purposes
TBO TEK IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Platform creating network effect with interlinked flywheels to enhance the value proposition for partners;
- Modular and scalable proprietary technology platform allowing the addition of new lines of business, markets, and travel products;
- Ability to generate and leverage large data assets;
- Data-driven decision making across the enterprise;
- Founder led company supported by an experienced professional management team with deep travel and technology expertise; and
- Capital efficient business model with a combination of strong growth and profitability.
Quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | (3.28) | (16.73) | 19.58 |
| 31-Mar-20 | 7.00 | 30.34 | – |
| Mar-19 | 2.53 | 16.36 | – |
TBO TEK IPO Lead Managers
Here are the list of Lead managers –
- Axis Capital Limited
- Credit Suisse Securities (India) Private Limited
- Jefferies India Private Limited
- JM Financial Limited
TBO TEK IPO Registrar to offer
Check out the details of the registrar here –
KFin Technologies Private Limited
Selenium, Tower B, Plot No. – 31 and 32
Financial District Nanakramguda, Serilingampally
Hyderabad, Rangareddi 500 032 Telangana, India
Tel: +91 40 6716 2222
E-mail: tbotek.ipo@kfintech.com
Website: www.kfintech.com
Investor grievance e-mail:
einward.ris@kfintech.com
Contact person: M Muralikrishna
SEBI Registration Number: INR000000221
TBO TEK IPO – Other Details
- Statutory Auditor – Price Waterhouse Chartered Accountants LLP
- Legal Counsel to the Company – Cyril Amarchand Mangaldas and Cyril Amarchand Mangaldas
- Bankers to the Company – YES Bank Limited, ICICI Bank Limited, Axis Bank Limited, Standard Chartered Bank, and HDFC Bank Limited
TBO TEK IPO – Conclusion
So, TBO Tek IPO can be filled with ample opportunities for the company but the investors should consider the impact of COVID-19 on travel businesses worldwide before investing.
The company is progressive, growing at a steady pace but has also been adversely affected by COVID-19. The financials and EPS also shows a declining picture.
People everywhere are cautiously considering to even step out for necessary things.
But the company is potential and operates as a leader globally. Therefore, investors can consider investing for the long term.
To Subscribe to TBO TEK IPO – Open Demat Account Now!
TBO TEK IPO Review FAQs
Check out the FAQs on TBO TEK IPO –
What is the Issue Size of TBO TEK IPO?
The Company is making an initial public offer of 16,856,623 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of TBO TEK IPO?
The price band for this particular IPO ranges between Rs 875 to Rs 920. As far as the face value of the share is concerned, it is Rs.1 per share.
What is the TBO TEK IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on May 8, 2024, while the closing date is set at May 10, 2024.
What is the TBO TEK IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on May 13, 2024, refund initiation is on May 14, 2024, credit of shares is on May 14, 2024, and share listing date is on May 15, 2024.
What is the TBO TEK IPO Listing Date?
Shares of this company shall be listed in the exchanges May 15, 2024. The date, when the listing would be done, is stagnant on May 15, 2024.
Who is the Registrar of TBO TEK IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. KFin Technologies Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of TBO TEK IPO?
Here are the promoters of this IPO – Ankush Nijhawan, Gaurav Bhatnagar, LAP Travel Private Limited, and Manish Dhingra. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of TBO TEK IPO?
They have obtained the GMP of this IPO and it is NA. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is TBO TEK IPO good for Investment?
They have further provided the financial status of the company in this article, from the past few years.
You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of TBO TEK Company?
They have the information of company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2021 in Million is (341.44), 2020 is 729.28, 2019 is 263.33. PAT from Sept 2021 is 177.43.
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