TBO Tek was incorporated on November 6, 2006. The company is a leading travel distribution platform in the global travel and tourism industry, distinguished by its Gross Transaction Value (GTV) and revenue from operations. Operating in over 100 countries, TBO Tek provides a comprehensive travel inventory tailored to the needs of its customers. It supports a wide range of currencies and offers forex assistance, catering to a diverse global market.
| Bidding Dates |
|---|
| 08 May 2024 - 10 May 2024 |
| Subscription |
|---|
| 86.7x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,000 | 1 | 13 | 16 | 16.9 M | ₹875 - ₹920 | 37.69 % | ₹14749.5 M - ₹15508.1 M | RHP DOC |
TBO Tek IPO SUBSCRIPTION STATUS
10 May '24TBO Tek IPO overall subscription rate was 86.7 times the total available shares
TBO Tek IPO retail subscription rate was 25.74 times in the retail segment
TBO Tek IPO non-institutional investor subscription rate was 50.6 times in the non-institutional investor category
TBO Tek IPO Qualified Institutional Bidder subscription rate was 125.51 times the available shares for Qualified Institutional Bidder
TBO Tek IPO Employees subscription rate was 17.82 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 10% | 15% | 75% | - |
10 May 2024 (Day 3) | 25.74x | 50.6x | 125.51x | 17.82x |
09 May 2024 (Day 2) | 10.01x | 8.19x | 0.17x | 6.55x |
08 May 2024 (Day 1) | 3.14x | 2.08x | 0.01x | 2.23x |
TBO Tek FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 9MFY24 | 1,541.8 | 10,237.5 | 417.6 | 142.2 | 18.8% |
| 9MFY23 | 1,202.8 | 7,831.8 | 1,027.5 | 969.6 | 18.6% |
| FY23 | 1,484.9 | 10,645.9 | 2,374.0 | 2,304.0 | 17.1% |
| FY22 | 337.2 | 4,832.7 | 1,982.6 | 1,904.0 | 6.0% |
| FY21 | -341.4 | 1,418.1 | 506.1 | 433.1 | -16.0% |
TBO Tek IPO SUBSCRIPTION STATUS DETAILS
TBO Tek had 16.9 M shares on offer
TBO Tek IPO offer price was in the range ₹875 - ₹920
TBO Tek IPO minimum Investment was ₹14000
TBO Tek IPO issue size was ₹ 14749.5 M - ₹ 15508.1 M
TBO Tek had a minimum lot size of 16 Shares per application
TBO Tek NUMBER OF SHARES ON OFFER
TBO Tek IPO IMPORTANT DATES
| Issue Open Date | 08 May 2024 |
| Issue close Date | 10 May 2024 |
| Allotment Date | 13 May 2024 |
| Refund Date | 14 May 2024 |
| Demat Account Credit Date | 14 May 2024 |
| Listing Date | 15 May 2024 |
| Listing on Exchange(s) | NSE and BSE |
| TBO Tek Allotment Status | Exchange |
TBO Tek IPO subscription opened on 08 May 2024, and closed on 10 May 2024
IPO allotment for TBO Tek was finalized on Monday, 13 May 2024
IPO listing for TBO Tek was on NSE and BSE on Wednesday, 15 May 2024
TBO Tek IPO LISTING GAINS
| Issue Price (adjusted) | 920.0 |
| Listing Open Price | 1426.0 |
| Listing Close Price | 1406.3 |
| Listing Gain% | 55.0% |
| Current Gain% | 75.3% |
TBO Tek Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| TBO Tek Ltd. | 1612.9 | 17514.1 | 66.2 | 4.7 | 5.7 | 15.8 | 2.6 | 2728.7 | 51.7 | 244.3 | 6.3 | 24.4 | 14.1 |
| Indian Railway Catering & Tourism Corporation Ltd. | 524.8 | 41980 | 30.1 | 5 | 8.1 | 32.3 | 18.4 | 5475.2 | 11.7 | 1393.5 | 6 | 17.4 | 6 |
| BLS International Services Ltd. | 260.1 | 10710.2 | 15.2 | 0.6 | 3.4 | 27.9 | 18.2 | 3093.4 | 36 | 686.7 | 35.1 | 17.1 | 24.9 |
| LE Travenues Technology Ltd. | 180.2 | 7947.2 | 92.9 | 2.8 | 6.3 | 3.5 | 2.8 | 1275.3 | 36.8 | 72.1 | 19.9 | 1.9 | 32.8 |
| Thomas Cook (India) Ltd. | 106.2 | 4995.5 | 22.8 | -1.8 | 0.6 | 8.6 | 2.8 | 8557.8 | 3.3 | 218.8 | -14 | 4.6 | -12.9 |
| Easy Trip Planners Ltd. | 6.6 | 2404 | -61.5 | 0.5 | 4.5 | -4.9 | -3.3 | 573.4 | -4.9 | -39.4 | -136.7 | -0.1 | -136.4 |
TBO Tek INFORMATION ON IPO ISSUE
About TBO Tek
TBO Tek was incorporated on November 6, 2006. The company is a leading travel distribution platform in the global travel and tourism industry, distinguished by its Gross Transaction Value (GTV) and revenue from operations. Operating in over 100 countries, TBO Tek provides a comprehensive travel inventory tailored to the needs of its customers. It supports a wide range of currencies and offers forex assistance, catering to a diverse global market.
Object of the Issue
- Investment in technology and data solutions by the company.
- Investment in the material subsidiary, Tek Travels DMCC, for onboarding platform users through marketing and promotional activities, and hiring sales and contracting personnel to augment the supplier and buyer base outside India.
- Investment in sales, marketing, and infrastructure to support the organization’s growth plans in India.
- Allocation of funds for unidentified inorganic acquisitions.
- Allocation for general corporate purposes.
TBO Tek - PROMOTERS
| Name |
|---|
| Ankush Nijhawan |
| Gaurav Bhatnagar |
| Manish Dhingra |
| LAP Travel Private Limited |
| Arjun Nijhawan |
TBO Tek Book Running Lead Manager
Axis Capital Limited
tbo.ipo@axiscap.in
JM Financial Limited
tektravels@jmfl.com
TBO Tek Book Running Lead Managers
Goldman Sachs (India) Securities Private Limited
tboipo@gs.com
Jefferies India Private Limited
tbo.ipo@jefferies.com
TBO Tek Registrar to the Offer
KFinTechnologies Private Limited
tbo.ipo@kfintech.com
TBO Tek Strengths
Instant access to a global network
The company offers instant access to a global network of partners for transactions. As the buyer base expands, it channels additional demand, facilitating more transactions through its platform. This increase in activity attracts more suppliers, which in turn allows the company to offer better pricing, a wider range of products, and a higher volume of supply across both existing and new products. This cycle enhances the value and attractiveness of the platform for all users
Technology platform
The company operates a modular and scalable proprietary technology platform that allows for the addition of new lines of business, markets, and travel products. This flexibility facilitates seamless expansion and adaptation to changing market demands and opportunities
Data-driven decisions
The company has democratized access to data, enabling everyone from frontline sales executives to product managers to utilize this information, thereby encouraging all decisions to be data-driven. Additionally, it has developed sales forecasting models based on recurrent neural networks. These models are capable of recording and analyzing events from both the distant and recent past
TBO Tek Risks
Contingent liabilities
The company has certain contingent liabilities that have not been provided for in the financial statements. If these liabilities materialize, they may adversely affect the company's financial condition
Competitive industry
The company operates in a highly competitive industry, and its inability to compete effectively could adversely affect its business and results of operations
Outstanding litigation proceedings
There are outstanding litigation proceedings against the company, its subsidiaries, directors, and promoters. Any adverse outcome in these proceedings could negatively impact the company's reputation, business, financial condition, results of operations, and cash flows
IPO FAQs
This IPO consists of an offer for sale of up to Rs 1,150.8 crore, of 12,508,797 shares. It also consists of a fresh issue of Rs 400.0 crore.
The promoters of the company are Ankush Nijhawan, Gaurav Bhatnagar, Manish Dhingra, LAP Travel Private Limited and Arjun Nijhawan.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 875.0 - 920.0.
The IPO application opens on May 08, 2024 and closes on May 10, 2024.
The minimum lot size for the IPO is 16. The maximum lot size for the IPO is 208.
For all category investors, the minimum application amount for this IPO is Rs. 14,000.0, the maximum value for this IPO is Rs 191,360.0.
This IPO will be allotted on May 13, 2024.
The refund will be credited to your account on May 14, 2024.
The allotted shares will be credited to your demat on May 14, 2024.
TBO Tek Ltd.’s shares listed on the stock exchanges on May 15, 2024.