IPO

TBO Tek Limited IPO

Mainboard

Tour, Travel Related Services

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

₹ 14720 /16 Shares

Check Allotment

Price Summary

Last Closing

1,737.95 (88.91%)

52 Week High

2,001.00

52 Week Low

1,231.65

Last Update

19-Sep-2024 3:30 PM

TBO Tek Limited IPO Details

08 May, 2024

Open Date

10 May, 2024

Close Date

13 May, 2024

Allotment Date

15 May, 2024

Listing Date

Issue Price

₹875-920 per equity share

Face Value

₹1 Per Equity Share

Listing at Group

BSE, NSE

Registrar

Kfin Technologies Limited

List Price

1426.0(NSE)

Listing Date

2024-05-15

Market Lot

Retail : 16 Shares (₹14,720/-)
S-HNI : 224 Shares (₹2,06,080/-)
B-HNI : 1,088 Shares (₹10,00,960/-)

Lead Manager

Axis Capital Limited
Jefferies India Private Limited

Issue Size

Total ₹1,550.81 Cr :
#Fresh Issue : 4,347,826 shares(aggregating up to ₹400 Cr) +
#OFS : 12,508,797 shares of ₹1(aggregating up to ₹1,150.81 Cr)

Retail Portion

10% (Number of Retail Applications: 1,05,150 Approx),
(Number of S-HNI Applications : 3,755 Approx),
(Number of B-HNI Applications : 7,511 Approx)

Subscription

86.35 times

TBO Tek Limited IPO Subscription Details

As onQIBNII
bNII   sNII
RetailTotal
Shares Offered / Reserved5,047,2042,523,602
1,682,401    841,201
1,682,4019,285,816
Day 1 - 08-05-24 05:00 PM0.01 x2.08
1.95 x   2.36 x
3.14 x1.15 x
Day 2 - 09-05-24 05:00 PM0.17 x8.19
7.91 x   8.73 x
10.01 x4.15 x
Day 3 - 10-05-24 05:00 PM125.51 x50.30
55.82 x   39.27 x
24.29 x86.35 x
Total No. of Applications: 22,52,663 (Approx)
Retail Subscription on the basis of Applications: Retail:21.51x BHNI:10.34x SHNI:36.77x times

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%

TBO Tek Limited Company Financials All values are in ₹ Cr.

31-Dec-2331-Mar-2331-Mar-2231-Mar-21
Assets3,754.052,557.931,271.43576.16
Revenue1,039.561,085.77511.93176.55
Profit After Tax154.18148.4933.72-34.14
Net Worth501.21337.19231.90204.07
Reserves & Surplus478.43317.57214.08197.58
Total Borrowing2.936.362.69N/A

About The 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 - Strength and Weakness

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.

TBO Tek Limited - Peers Comparison

P/B RatioP/E RatioRoNWNet Worth
TBO TEK Limited18.6654.7744.04%1,086
Rategain Technologies10.864.410.2%884

TBO Tek Limited - Promoter(s)

Pre Issue Share Holding: 51.26%

Post Issue Share Holding: N/A%


Company Promoter(s)

  1. Ankush Nijhawan
  2. Gaurav Bhatnagar
  3. Manish Dhingra
  4. Arjun Nijhawan

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.

Other Details

Company Contact Details

TBO Tek Limited

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

Phone: +91 124 499 8999

Email: corporatesecretarial@tbo.com

Website: http://www.tbo.com/

Registrar Contact Details

Kfin Technologies Limited

Phone: 04067162222, 04079611000

Email: tbo.ipo@kfintech.com

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

TBO Tek Limited IPO - FAQs

Ans. TBO Tek Limited IPO is a Mainboard IPO. The issue is priced at ₹875-920 per equity share. The minimum order quantity is 16 Shares. The IPO opens on May 8, 2024, and closes on May 10, 2024. Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Ans. The TBO Tek Limited IPO opens on May 8, 2024 and closes on May 10, 2024.

Ans. The size of TBO Tek Limited IPO is Total ₹1,550.81 Cr : #Fresh Issue : 4,347,826 shares(aggregating up to ₹400 Cr) + #OFS : 12,508,797 shares of ₹1(aggregating up to ₹1,150.81 Cr).

Ans. The IPO price band is set between ₹875-920 per equity share.

Ans. To apply for TBO Tek Limited IPO IPO, follow the steps given below:

  • - Open the IPO Ji App or Website
  • - Find TBO Tek Limited IPO in the List of IPOs
  • - Press "Apply" Button
  • - Select Your Demat Account
  • - Select Your Shares Quantity and Submit
  • - Track Your IPO Status

Ans. The share allotment date of TBO Tek Limited IPO is May 13, 2024.

Ans. The TBO Tek Limited IPO will be listed on May 15, 2024.

Ans. Follow the steps to check the allotment status for TBO Tek Limited IPO here.