According to market sources, OFS size could be around Rs 600 crore, taking the total IPO size to Rs 1,000 crore | File image
Travel Distribution Platform Eyes Rs 1,000 Crore Through Public Offering
TBO Tek Ltd, a leading travel distribution platform, is set to launch its initial public offering (IPO) on May 8, 2024. The company aims to raise Rs 1,000 crore through a combination of fresh issue and offer for sale (OFS) of shares.
IPO Details:
- Subscription Dates: May 8 – May 10, 2024
- Issue Size: Rs 1,000 crore (estimated)
- Fresh Issue: Rs 400 crore
- Offer for Sale (OFS): Up to Rs 600 crore by promoters (Gaurav Bhatnagar, Manish Dhingra, LAP Travel) and investors (TBO Korea, Augusta TBO)
- Listing: BSE & NSE
Proceeds Utilization:
- Funds from the fresh issue will be used for:
- Platform growth and expansion: attracting new buyers and suppliers
- Potential inorganic acquisitions (unspecified)
- General corporate purposes
About TBO Tek:
- Established player in the global travel and tourism industry
- Connects buyers and suppliers across over 100 countries (as of June 30, 2023)
- Offers bookings for over 7,500 destinations, facilitating 33,000 transactions daily
- Secured a minority stake investment from General Atlantic in October 2023
Book Running Lead Managers:
- Axis Capital Ltd
- Goldman Sachs (India) Securities Private Ltd
- Jefferies India Private Ltd
- JM Financial Ltd
Analyst Viewpoint (to be added):
This section can be included if you find relevant analyst opinions or market sentiment regarding the TBO Tek IPO. It would provide potential investors with additional insights to consider.
Overall, TBO Tek’s IPO presents an opportunity for investors to participate in the growth of a leading travel distribution platform. The company’s established presence, global reach, and strategic investment from General Atlantic are positive indicators. However, further analysis of the company’s financials, market risks, and competitor landscape is recommended before making an investment decision.
Please note that the OFS size is an estimate, and the final IPO size may vary depending on the price band announcement.
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