The IPO of TBO Tek is scheduled to be open for bidding from May 08, 2024, to May 10, 2024. The price band for the IPO is set at ₹875 to ₹920 per equity share. The company plans to raise ₹1,550.81 crore through an initial public offering (IPO).
The IPO consists of a fresh issue of 0.43 crore shares amounting to ₹400.00 crores and an offer-for-sale component of 1.25 crore shares amounting to ₹1,150.81 crores.
The issue is being made through the book-building process, with up to 75% of the net issue available for allocation to Qualified Institutional buyers on a proportionate basis, 15% to non-institutional investors, and a minimum of 10% of the net issue available for allocation to retail investors on a proportionate basis.
The minimum lot size for an application is 16 shares, requiring a minimum investment of ₹14,720 for retail investors to participate in the IPO. For sNII, the minimum lot size investment is 14 lots (224 shares), totaling ₹206,080, and for bNII, it is 68 lots (1,088 shares), totaling ₹1,000,960.
Axis Capital Limited, Jefferies India Private Limited, Goldman Sachs (India) Securities Private Limited, and JM Financial Limited serve as the book-running lead managers for the TBO Tek IPO, with KFin Technologies Limited acting as the registrar for the issue.
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Objectives of the issue
The company plans to allocate the net proceeds from the issue to support various objectives. These include expanding the supplier and buyer base, enhancing the value of the platform by introducing new lines of businesses, pursuing inorganic growth through targeted acquisitions, and fostering synergies with the existing platform.
Additionally, the funds will be utilised to leverage acquired data for the development of customised travel solutions tailored to the needs of both buyers and suppliers.
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About TBO Tek
TBO Tek is one of the leading travel distribution platforms in the global travel and tourism industry in terms of GTV and revenue from operations for fiscal 2023, providing a wide range of offerings operating in over 100 countries, providing buyers with a comprehensive travel inventory according to the needs of their customers; and supporting a wide range of currencies along with forex assistance.
The company simplifies the business of travel for suppliers such as hotels, airlines, car rentals, transfers, cruises, insurance, rail, and others (collectively, “Suppliers”), retail buyers such as travel agencies and independent travel advisors (“Retail Buyers”); and enterprise buyers that include tour operators, travel management companies, online travel companies, super-apps, and loyalty apps (“Enterprise Buyers,” together with Retail Buyers, “Buyers”) through our two-sided technology platform that enables Suppliers and Buyers to transact seamlessly with each other.
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Business Operations
The company operates two main platforms: TBO Holidays, a global travel distribution platform, and Travel Boutique Online, catering specifically to travel buyers in India.
These platforms serve as comprehensive solutions, allowing a wide range of suppliers to showcase their inventory and set prices for a diverse global buyer base. For buyers, the platform offers an integrated, multi-currency, and multilingual interface, simplifying the process of discovering and booking travel arrangements worldwide.
As of December 31, 2023, the company’s platform connects over 159,000 buyers from more than 100 countries with over one million suppliers. Key offerings include hotel bookings, global air bookings, holiday packages for various destinations, car rentals, private transfers between airports and hotels, cruise bookings, freight services, and access to global seaman fares.
Additionally, the company provides online learning resources for travel agents and trade partners through its TBO Academy platform.
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