TBO Tek Limited IPO Subscribed 86.52x on Day 3

On Day 3 of the bidding process, Friday, May 10, 2024, the Initial Public Offer (IPO) of TBO Tek Limited was subscribed 86.52 times. The retail portion was subscribed 24.95x, while 125.51x in Qualified Institutional Buyers (QIB), 50.48x in the Non-Institutional Investors (NII) category and 17.09x in the employees category.

On Day 1, May 8, 2024, the QIB category was subscribed 0.01x, NII 2.11x, retail 3.38x and EMP 2.36x. In total, the IPO was subscribed 1.20 times. On Day 2, May 9, 2024, the IPO was subscribed 4.18 times, where the QIB category was subscribed 0.17x, NII 8.21x, retail 10.14x, and EMP 6.63x.

On May 10, 2024, unlisted shares of TBO Tek Ltd were trading ₹535 in the grey market.

The TBO Tek IPO subscription opened on May 8, 2024, and closed today, May 10, 2024. The shares allotment is expected by May 13, 2024, with listing on BSE and NSE tentatively set for May 15, 2024.

TBO Tek Ltd IPO’s price band has been set at ₹875 to ₹920 per equity share. The minimum lot size was 16 shares, and the minimum investment required by retail was ₹14,720. The IPO is of a fresh issue and an Offer For Sale (OFS), with a total issue size of 16,856,623 shares aggregating up to ₹1,550.81 crore.

About TBO Tek Ltd

TBO Tek Ltd is one of the prominent travel distribution platforms in the travel and tourism industry. The company provides buyers with a wide range of travel inventory per their customers’ requirements and supports a wide range of currencies and forex assistance. The company facilitates travel operations for suppliers (hotels, airlines, etc.) and retail buyers (travel agencies, advisors), as well as enterprise buyers (tour operators, online travel companies) through their two-sided technology platform.

As of June 2023, the platform supports 11 languages and accepts more than 55 currencies for bookings.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.