TBO Tek Ltd IPO : 7 things to know about
by 5paisa Research Team
14 Mar 2022
Listing Details
- Listing Exchange BSE, NSE
- Listing Date 15-May-24
- IPO Price Range ₹875
- Listing Price ₹1380
- Listing Change 50.0 %
- Last Traded Price ₹1530.4
- Current Change 66.3 %
TBO Tek IPO Details
- Open Date 08-May-24
- Close Date 10-May-24
- Lot Size 16
- IPO Size ₹ 1,550.81 Cr
- IPO Price Range ₹ 875 to ₹ 920
- Min Investment ₹ 14,000
- Listing Exchange BSE, NSE
- Basis of Allotment 13-May-24
- Refunds 14-May-24
- Credit to Demat Account 14-May-24
- Listing Date 15-May-24
TBO Tek IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 08-May-24 | 0.01 | 2.11 | 3.28 | 1.20 |
| 09-May-24 | 0.17 | 8.20 | 10.09 | 4.17 |
| 10-May-24 | 125.51 | 50.58 | 25.65 | 86.68 |
TBO Tek IPO Synopsis
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 |
About TBO Tek
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
TBO Tek Financial Status
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 |
TBO Tek IPO Key Points
-
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.
TBO Tek
How to apply for IPO?
-
Login to your 5paisa account and select the issue in the
current IPO section -
Enter the number of lots and price at which you wish to
apply for -
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 -
Approve the mandate request on your UPI and funds
will be blocked
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TBO Tek IPO FAQs
When does TBO Tek IPO opens and closes?
TBO Tek IPO opens from 8th May to 10th May 2024.
What is the size of TBO Tek IPO?
The size of TBO Tek IPO is yet to be announced.
How to apply for TBO Tek IPO?
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.
What is the price band of TBO Tek IPO?
The price band of TBO Tek IPO is yet to be announced.
What is the minimum lot size and investment required for TBO Tek IPO?
The minimum lot size of TBO Tek IPO and the minimum investment required to apply for the IPO is yet to be announced.
What is the allotment date of TBO Tek IPO?
The share allotment date of TBO Tek IPO is 13th May 2024.
What is TBO Tek IPO listing date?
The TBO Tek IPO will be listed on 15th May 2024.
Who are the book runners for TBO Tek IPO?
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.
What is the objective of the issue?
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.
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