TBO Tek IPO Listing
TBO Tek IPO Listing: TBO Tech's ₹1,550.81 crore IPO was open for subscription from May 8-10. Today its shares have been listed.
TBO Tek IPO Listing: Shares of travel distribution platform TBO Tek made a successful entry in the domestic market today. Its IPO received overall bids of more than 86 times.
Under the IPO, shares have been issued at a price of Rs 920. Today it has entered at Rs 1380.00 on BSE and Rs 1,426.00 on NSE, which means IPO investors got a listing gain of 55 percent (TBO Tek Listing Gain).
However, the happiness of IPO investors faded a bit when the shares crashed but then it made a strong recovery.
At the end of the day, it closed at Rs 1404.85 (TBO Tek Share Price) on BSE, which means IPO investors are now making 52.70 percent profit.
What do experts say?
Prashant Tapse of Mehta Equities believes that TBO Tech's bumper listing is a perfect fit given its strong position in the global travel and tourism industry. He advised investors to invest money in IPO for listing gains.
TBO Tek IPO got strong response
TBO Tech's ₹1,550.81 crore IPO was open for subscription from May 8-10. This IPO received a tremendous response from investors and overall it was subscribed 86.69 times.
In this, the portion reserved for Qualified Institutional Buyers (QIB) was 125.51 times, the portion for Non-Institutional Investors (NII) was 50.60 times, the portion for retail investors was 25.72 times and the portion for employees was 17.81 times.
Under this IPO, new shares worth Rs 400 crore have been issued and 1,25,08,797 shares with face value of Re 1 have been sold under the offer for sale window.
The money from the offer for sale will go to the shareholders selling the shares. The company will use the money raised through new shares to expand its sellers and buyers base, start new business lines, make acquisitions and use data.
Established in the year 2006, TBO Tech (formerly Tech Travels Pvt. Ltd.) is a travel distribution platform that provides travel inventory. It offers travel related services to suppliers like hotels, airlines, car rentals, insurance, rail companies.
Apart from this, it also provides services to travel agencies, online travel companies and tour operators etc.
Through its platform, sellers display their inventory online. Talking about the financial health of the company, it has continuously strengthened.
In the financial year 2021, it had a net loss of Rs 34.14 crore, but in the next financial year 2022, it made a net profit of Rs 33.72 crore, which jumped rapidly to Rs 148.49 crore in the next financial year 2023.
During this period, the company's revenue increased at a compound growth rate (CAGR) of about 148 percent annually to Rs 1,085.77 crore.
Talking about the last financial year 2023-24, in the first 9 months i.e. April-December 2023, it has achieved a net profit of Rs 154.18 crore and a revenue of Rs 1,039.56 crore.