IPO

TBO Tek Limited IPO

Mainboard

Tour, Travel Related Services

Listed On: May 15, 2024 at ₹ 1426.0(NSE)

₹ 14720 /16 Shares

Check Allotment

08 May, 2024

Open Date

10 May, 2024

Close Date

13 May, 2024

Allotment Date

15 May, 2024

Listing Date
Price Summary

Last Closing

1,657.00 (80.11%)

52 Week High

1,845.55

52 Week Low

996.00

Last Update

10-Dec-2025 3:30 PM
TBO Tek Limited IPO Issue Details
  • Issue Price ₹875-920 per equity share
  • Face Value ₹1 Per Equity Share
  • Total Issue Size 1,68,56,623 shares(aggregating up to ₹1550.81 crore)
  • Fresh Share 43,47,826 shares(aggregating up to ₹400 crore)
  • Offer For Sale 1,25,08,797 shares(aggregating up to ₹1150.81 crore)
  • Listing at BSE, NSE
  • List Price 1426.0(NSE)
  • Listing Date 2024-05-15
  • Lead Manager Axis Capital Limited
    Jefferies India Private Limited
  • Registrar Kfin Technologies Limited
Market Lot Size

Investors can bid for a minimum of 16 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (min) 1 16 ₹14,720
Retail(max) 13 208 ₹1,91,360
TBO Tek Limited IPO Reservation

TBO Tek Limited IPO offers total 16,856,623 shares. Out of which 5,047,204 (29.94%) allocated to QIB, 2,523,602 (14.97%) allocated to NII,1,682,401 (9.98%) allocated to RII, NA (NA%) allocated to employees and 7,570,807 (44.91%) allocated to Anchor investors.

Investor Category Shares Offered Maximum Allottees
Anchor Investor Shares Offered 7,570,807 (44.91%)
QIB Shares Offered 5,047,204 (29.94%)
NII (HNI) Shares Offered 2,523,602 (14.97%)
bNII > ₹10L 1,682,401 (9.98%)
sNII < ₹10L 841,201 (4.99%)
Retail Shares Offered 1,682,401 (9.98%)
Total Shares Offered 16,856,623 (100%)
TBO Tek Limited IPO Documents
DRHP
RHP
ANCHOR
TBO Tek Limited IPO Details


TBO Tek Limited IPO is a book-built issue of ₹1550.81 crores, The total issue size is ₹1550.81 crores. The IPO of TBO Tek Limited is priced at ₹875-920 per equity share, which has a face value of ₹1 Per Equity Share each, IPO bidding starts from May 8, 2024 and ends on May 10, 2024. The allotment for TBO Tek Limited IPO will be finalized on May 13, 2024. TBO Tek Limited IPO will be listed on BSE, NSE, with a tentative listing date fixed as May 15, 2024. The company shall list its equity shares on the BSE, NSE. Kfin Technologies Limited is the registrar of the issue.

Retail investors can bid for a minimum of 16 shares, extendable to 14,720. The book-running lead manager for the IPO is/are Axis Capital Limited, Jefferies India Private Limited.

The total issue ₹1550.81 crore, comprising a fresh issue of 43,47,826 shares ₹400 crore and having Offer for Sale (OFS) of 1,25,08,797 shares to mop up ₹1150.81 crore.

The TBO Tek Limited IPO sets its price band at 875-920 for each share. A single application for TBO Tek Limited IPO must contain at least 16 shares. Sentiment investors need to invest a minimum of 16 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,720

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TBO Tek Limited IPO Subscription Analysis And Details
Retail
24.29x
QIB
125.51x
NII
50.30x
bNII
55.82x
sNII
39.27x
Total
86.35x
As on QIB NII
bNII   sNII 		Retail Total
Shares Offered / Reserved 5,047,204 2,523,602
1,682,401    841,201 		1,682,401 9,285,816
Day 1 08-05-24 05:00 PM
0.01 x 2.08
1.95 x   2.36 x 		3.14 x 1.15 x
Day 2 09-05-24 05:00 PM
0.17 x 8.19
7.91 x   8.73 x 		10.01 x 4.15 x
Day 3 10-05-24 05:00 PM
125.51 x 50.30
55.82 x   39.27 x 		24.29 x 86.35 x
Total No of Applications
22,52,663
Subscription on the basis of Applications
Retail:21.51x BHNI:10.34x SHNI:36.77x
TBO Tek Limited Valuations
EPS Pre IPO ₹14.25/-
EPS Post IPO ₹18.93/-
P/E Pre IPO 64.58
P/E Post IPO 48.60
RoNW 30.76%
Price to Book Value 18.66
TBO Tek Limited Company Financials
In Crs.
In Cr.
31-Dec-23 31-Mar-23 31-Mar-22 31-Mar-21
Assets 3,754.05 2,557.93 1,271.43 576.16
Revenue 1,039.56 1,085.77 511.93 176.55
Profit After Tax 154.18 148.49 33.72 -34.14
Net Worth 501.21 337.19 231.90 204.07
Reserves & Surplus 478.43 317.57 214.08 197.58
Total Borrowing 2.93 6.36 2.69 N/A
About TBO Tek Limited Company

Established in 2006, TBO Tek Limited, formerly known as Tek Travels Private Limited, is a travel distribution platform that offers travel inventory according to the needs of its customers and supports a wide range of currencies along with forex help.

The company simplifies the travel business for suppliers such as hotels, airlines, car rentals, transfers, cruises, insurance, rail companies, and others, as well as for retail customers such as travel agencies and independent travel consultants, and corporate customers such as tour operators, travel management companies, online travel companies, super apps and loyalty apps through our two-sided technology platform that enables suppliers and customers to connect seamlessly.

The company's platform enables sellers to show and market their inventory and set prices for buyers. For buyers, the platform is an integrated, multi-currency, and multi-lingual, one-stop solution that helps them discover and book travel to destinations around the world, across various travel segments such as leisure, business and religious travel.

As at December 31, 2023, the company had sold over 7,500 destinations in more than 100 countries and employed over 2,000 people.

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TBO Tek Limited - Promoter(s)

Ankush Nijhawan

Gaurav Bhatnagar

Manish Dhingra

Arjun Nijhawan

Pre Issue Share Holding : 51.26%

Post Issue Share Holding : N/A%

TBO Tek Limited IPO - Issue Objectives
1

Expansion of the Supplier and Buyer base

2

Amplification of value of our platform by adding new lines of businesses

3

Inorganic growth through selective acquisitions and building synergies with our existing platform

4

Leveraging data procured to offer bespoke travel solutions to our Buyers and Suppliers.

TBO Tek Limited IPO - Anchor Investors

TBO Tek IPO: Anchor investors picks Rs 696.5 Crores.

Global investors including Abu Dhabi Investment Authority, Government Pension Fund Global, Neuberger Berman Investment Funds, Nomura Funds, Blackrock Global Funds, Fidelity Funds, Goldman Sachs, HSBC Global, and Eastspring Investments became the shareholders of the company by investing in anchor book.

Domestic mutual fund houses like ICICI Prudential Mutual Fund, Kotak Mahindra Trustee, Nippon Life India, SBI Mutual Fund, Axis Mutual Fund, Franklin India, Mirae Asset, Whiteoak Capital, Bandhan Mutual Fund, Canara Robeco Mutual Fund, and DSP Multicap Fund also bought shares in the company.

Insurance majors ICICI Prudential Life Insurance, SBI Life Insurance, Aditya Birla Sun Life Insurance, Kotak Mahindra Life Insurance, and Max Life Insurance, too, picked a stake in the company.

TBO Tek Limited IPO - Peers Comparison
Company Name EPS (Basic) EPS (Diluted) NAV (per share) (Rs) P/E (x) RoNW (%) P/BV Ratio Financial statements
TBO Tek Limited 14.21 14.07 33.22 N/A 44.04 N/A Consolidated
Rategain Travel Technologies Limited 6.29 6.33 65.67 113.31 9.64 N/A Consolidated
Travel CTM 28.14 28.04 425.2 28.34 6.62 N/A Consolidated
Webjet Ltd 2.01 2.01 115.95 213.16 1.74 N/A Consolidated

Notes:

  1. The P/E Ratio for the listed industry peer has been computed based on the closing market price of equity shares, on NSE for Indian peers and ASX for Global peers, as of April 26, 2024, divided by the diluted EPS for the year ended March 31, 2023.
  2. Return on Net worth attributable to the owners of the company (%) = Restated profit for the period/year attributable to equity holders of the parent / Net worth attributable to the company as at the end of the period/year.
  3. Net Asset Value per Equity Share = Net worth / Weighted average number of equity shares outstanding as at the end of year/period.
  4. Reported figures for global peers in AUD converted at AUD: INR rate of 53.
Strength
The platform of TBO TEK Limited generates a network effect that strengthens value propositions for partners by promoting interconnected flywheels. By increasing the number of buyers, the business draws in more suppliers, which leads to improved pricing, a greater selection of suppliers, and a rise in the volume of transactions. This beneficial cycle ensures continued growth by constantly enhancing the network of partners among suppliers and buyers.
The scalable and flexible technological platform of the company facilitates the seamless integration of new travel goods, markets, and business lines. TBO TEK Limited has effectively penetrated and grown in several markets by utilising this technology, resulting in notable increases in Gross Transaction Value (GTV) in various geographical areas.
With a capital-efficient company strategy, TBO TEK Limited produces robust cash flows and exhibits long-term growth. By means of well-timed acquisitions such as Island Hopper and BookaBed A.G., the company broadens its network of partners, strengthens its market standing, and generates value by providing a variety of travel goods across several source markets. In addition, the company's emphasis on growing its worldwide base of buyers and suppliers offers profitable development prospects in developing economies and supplementary services.
Weakness
A sizeable amount of TBO TEK Limited's revenue comes from hotel and ancillary reservations, on which it depends heavily. Any elements that have a negative effect on hotel reservations or the demand for air travel, such unstable economies, security worries, or international conflicts, might have a detrimental effect on the company's operations and financial results.
Pricing pressure is coming from suppliers to TBO TEK Limited. These suppliers could change commission arrangements or withhold goods for exclusive distribution channels. If service prices aren't raised to compensate for a supplier's reduction in commissions or fees, income may fall and there's a chance that buyers won't come through, which lowers GTV. Additionally, the company's competitiveness may be impacted by airline Suppliers' more enticing terms through direct distribution channels.
The business has unreported contingent liabilities that might negatively impact its financial situation if they come to pass. Furthermore, TBO TEK Limited's business operations and financial situation might be negatively impacted by any failure to maintain or upgrade the proprietary technology that is necessary for essential business tasks. This could lead to service interruptions or worse service quality.
Contact Details

TBO Tek Limited

E - 78,South Extension Part I, New Delhi - 110 049

+91 124 499 8999

corporatesecretarial@tbo.com

http://www.tbo.com/

Registrar Contact Details

Kfin Technologies Limited

04067162222, 04079611000

tbo.ipo@kfintech.com

https://kosmic.kfintech.com/ipostatus/