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tbo tek ipo

TBO Tek IPO

TBO Tek Ltd, one of the leading global travel distribution platforms, has filed preliminary documents with SEBI for an initial public offering (IPO) o...

  • Status: Closed
  • RHP:
  • ₹ 14,000 / 16 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    15 May 2024

  • Listing Price

    ₹1,380.00

  • Listing Change

    50.00%

  • Last Traded Price

    ₹1,664.05

IPO Details

  • Open Date

    08 May 2024

  • Close Date

    10 May 2024

  • IPO Price Range

    ₹ 875 to ₹ 920

  • IPO Size

    ₹ 1,550.81 Cr

  • Listing Exchange

    BSE, NSE

  • Listing Date

    15 May 2024

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TBO Tek IPO Subscription Status

Last Updated: 10 May 2024 6:18 PM by 5Paisa

Last Updated: 10th May, 2024 by 5paisa

TBO Tek Limited IPO is set to open from 8th May to 10th May 2024. The company operates as a travel distribution platform. The IPO includes a fresh issue of ₹400.00 cr. and an Offer-for-Sale (OFS) of 12,508,797. The share allotment date is 13th May 2024, and the IPO will be listed on 15th May 2024 on the stock exchanges. The price band and lot size are yet to be announced.  

Axis Capital Limited, Goldman Sachs (India) Securities Private Limited, Jefferies India Private Limited, and JM Financial Limited are the book-running lead managers for this IPO, while rar Contact Person E-mail and Telephone KFin Technologies Limited is the registrar. 

Objectives of TBO Tek IPO

●    To fund the expansion of the Supplier and Buyer base.
●    To amplify the platform’s value by increasing new lines of businesses.
●    To fund the inorganic growth through acquisitions and building synergies with the existing platform.
●    To leverage data to provide bespoke travel solutions to Buyers and Suppliers.

TBO Tek IPO Video

 

 

TBO Tek IPO Size

Types Size (₹Cr)
Total IPO size 1,550.81
Offer for sale 1,150.81
Fresh issue 400.00

TBO Tek IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 16 ₹14,720
Retail (Max) 13 208 ₹191,360
S-HNI (Min) 14 224 ₹206,080
S-HNI (Max) 67 1,072 ₹986,240
B-HNI (Min) 68 1,088 ₹1,000,960

TBO Tek IPO Reservation

Investors Category Subscription (times) Shares Offered Shares bid for Total Amount (Cr.)
Anchor Allocation 1 75,70,807 75,70,807 696.51
QIB 125.51 50,47,204 63,34,76,128 58,279.80
NII (HNI) 50.58 25,23,602 12,76,47,040 11,743.53
Retail 25.65 16,82,401 4,31,49,520  3,969.76
Employees 17.74 32,609 5,78,432 53.22
Total 86.68 92,85,816 80,48,51,120 74,046.30

TBO Tek IPO Anchor Allocation

Anchor Bid Date 7 May, 2024
Total no. of shares offered 7,570,807
Portion Size for Anchor Investors 696.51 Cr.
Lock in Period for 50% shares (30 days) 12 June, 2024
Lock in Period for rest of shares (90 days) 11 August, 2024

Established in 2006, TBO Tek Limited is a travel distribution platform. In terms of GTV and revenue from operations for Fiscal 2023, the company is one of the leaders in the global travel and tourism industry offering services to more than 100 countries. 

TBO Tek has two revenue models: 
i) B2B Rate Model: Gets inventory from Suppliers on which the company adds a mark-up and passes on to the buyers
ii) Commission Model: Charges a fixed price as a commission from suppliers.

The company has a global headcount of 2000+ and supports 11 languages on its platform. It has a presence in India, the Middle East & Africa, Europe, Latin America, North America, and APAC. 

Peer Comparison

●    Rategain Travel Technologies Limited
●    Travel CTM Limited
●    Webjet Limited

For More Information:
Webstory on TBO Tek Travels IPO

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23 FY22 FY21
Revenue from operations 1064.58 483.26 141.80
EBITDA 181.84 28.74 -22.68
PAT 148.49 33.71 -34.14
Particulars (in Rs. Crores) FY23 FY22 FY21
Total Assets 2557.92 1271.42 576.16
Share Capital 10.42 10.42 1.89
Total Borrowings 2220.73 1039.52 372.09
Particulars (in Rs. Crores) FY23 FY22 FY21
Net cash generated from / (used in) operating activities 237.39 198.26 50.60
Net cash from / (used in) investing activities -106.17 -30.58 -26.57
Net cash flow from / (used in) financing activities -14.05 -15.67 -5.42
Net increase (decrease) in cash and cash equivalents 117.16 152.00 18.60


Strengths

1.    The company’s platform creates a network effect with interlinked flywheels.
2.    It has a modular and scalable proprietary technology platform allowing the addition of new lines of business, markets, and travel products.
3.    It has the ability to generate and leverage large data assets. 
4.    The company has a capital-efficient business model with a combination of sustainable growth.
5.    Experienced management team.
 

Risks

1.    The business is exposed to pricing pressure from Suppliers. 
2.    It operates in a highly competitive industry. 
3.    The business is subject to risks related to online payment methods.
4.    A majority of the revenues are derived from Tek Travels DMCC, a subsidiary.
5.    The company derives a majority portion of its revenues from hotels and ancillary bookings.
6.    High working capital requirements. 
7.    It has reported a loss in the past. 

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FAQs

TBO Tek IPO opens from 8th May to 10th May 2024.
 

The size of TBO Tek IPO is yet to be announced.

To apply for TBO Tek IPO, follow the steps given below:

●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for TBO Tek IPO
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.  

You will receive a mandate notification to block funds in your UPI app.
 

The price band of TBO Tek IPO is yet to be announced.

The minimum lot size of TBO Tek IPO and the minimum investment required to apply for the IPO is yet to be announced.

The share allotment date of TBO Tek IPO is 13th May 2024.
 

The TBO Tek IPO will be listed on 15th May 2024.
 

Axis Capital Limited, Goldman Sachs (India) Securities Private Limited, Jefferies India Private Limited, and JM Financial Limited are the book-running lead managers for TBO Tek IPO.

TBO Tek Limited will use the proceeds from the IPO for:
●    To fund the expansion of the Supplier and Buyer base.
●    To amplify the platform’s value by increasing new lines of businesses.
●    To fund the inorganic growth through acquisitions and building synergies with the existing platform.
●    To leverage data to provide bespoke travel solutions to Buyers and Suppliers.