TBO Tek IPO

TBO Tek IPO (Image:Pixabay)

VoM News Desk | May 7, 2024 | 05:28 PM IST | Breaking News | Follow on Google News

TBO Tek IPO

Key Highlights of TBO Tek IPO

1. TBO Tek Limited, formerly Tek Travels Private Limited, launches its IPO, opening Wednesday, May 8.
2. The company’s innovative platform connects travel suppliers and customers, streamlining the industry.
3. Strong financial performance, with profit after tax climbing by 340.4% between March 2022 and March 2023.

TBO Tek Limited, a pioneering travel distribution platform founded in 2006, is set to launch its Initial Public Offering (IPO) on May 8. Renowned for its two-sided technology platform facilitating seamless communication between suppliers and customers, the company revolutionizes travel logistics.

Offering a diverse range of services including hotels, airlines, car rentals, and more, TBO Tek aims to enhance travel experiences globally. With a floor price of ₹875 and a cap price of ₹920 per equity share, the IPO seeks to leverage its robust financial performance, evidenced by a 340.4% increase in profit after tax in the past year.

The IPO, worth ₹1,550.81 crore, comprises a fresh issue of ₹400 crore and an offer-for-sale of up to 12,508,797 equity shares by promoters and investors. With a strong lineup of lead managers and a promising grey market premium of +520, TBO Tek IPO is poised for a successful debut, projecting an expected listing price of ₹1,440 apiece.

Source: Mint

VoM News Desk

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