InvestorQ : Can you tell me about the proposed IPO of TBO Tek?
Dilmini Mercia made post

Can you tell me about the proposed IPO of TBO Tek?

Answer
image
Dawn Cherian answered.
5 months ago
Follow

TBO Tek, one of India’s leading digital travel services provider, has filed the draft red herring prospectus (DRHP) with Sei for its proposed Rs 2,100 crore IPO. The IPO will comprise of a fresh issue of shares worth Rs.900 crore and an offer for sale worth up to Rs 1,200 crore by promoters and early investors, taking the total issue size to Rs.2,100 crore. TBO Tek may also do a pre-IPO placement of Rs.180 crore, in which case, size of the IPO will be reduced.

The fresh proceeds of Rs.900 core will be allocated by TBO Tek towards growing and strengthening its platform both in terms of technology, readiness, marketing savvy and number of customers. IT will also look to add new buyers and suppliers. It has also set aside a small component of the fresh issue corpus for inorganic growth, apart from the regular organic growth. This is likely to be done through focused mergers and acquisitions.

TBO Tek is a data and technology driven travel distribution company that offers the entire gamut of global travel inventory as a one-stop shop solution. Buyers and suppliers can log into the network and enhance their business with limited effort from their side. The issue will be lead managed by Axis Capital, Credit Suisse Securities, Jefferies India and JM Financial.

20 Views