TBO Tek IPO is a book-built issue of Rs 1,550.81 crores. The issue is a combination of a fresh issue of 0.43 crore shares aggregating to Rs 400.00 crores and an offer for sale of 1.25 crore shares aggregating to Rs 1,150.81 crores

TBO Tek IPO opens for subscription on May 8, 2024, and closes on May 10, 2024. The IPO price band is set at ₹875 to ₹920 per share. The minimum lot size for an application is 16 Shares

Company Summary

They are one of the leading travel distribution platforms in the global travel and tourism industry, in terms of GTV and revenue from operations for Fiscal 2023 providing a wide range of offerings operating in over 100 countries by providing Buyers with a comprehensive travel inventory according to the needs of their customers and supporting a wide range of currencies along with forex assistances.

They simplify the business of travel for suppliers such as hotels, airlines, car rentals, transfers, cruises, insurance, rail, and others (collectively, “Suppliers”), and retail buyers such as travel agencies and independent travel advisors (“Retail Buyers”); and enterprise buyers that include tour operators, travel management companies, online travel companies, super-apps and loyalty apps (“Enterprise Buyers”, together with Retail Buyers, “Buyers”) through their two-sided technology platform that enables Suppliers and Buyers to transact seamlessly with each other

They have two key revenue models for our transaction

  1. B2B Rate Model: where they receive inventory from Suppliers on which they apply a certain markup and pass it on to the Buyers.
  2. Commission Model: where their Suppliers fix the price they want to sell to the end traveler and on which receive a commission from the Supplier part of which they retain and part of which they share with the Buyer.

Company Strengths

Their business solutions aim to solve problems of discovery, reliability, transactions, and service by aggregating global travel supply and global travel demand on one platform and by enabling Buyers and Suppliers to transact seamlessly.

They enable Suppliers to get instant access to a global Buyer base without having to make any additional investments in technology or manpower. Suppliers can streamline their selling process, pricing, and payments (with them acting as the merchant of record) by using their platform.

Their integrated web and mobile-based platform allows Retail Buyers to operate their business through their platform. With free onboarding and no installation requirements, their platform allows Retail Buyers to access and book global supply across all product categories, including airlines, hotels, car transfers, and sightseeing, at business-to-business (“B2B”) rates.

Company Financials

Period Ended31 Dec 202331 Mar 202331 Mar 202231 Mar 2021
Profit After Tax154.18148.4933.72-34.14
Net Worth501.21337.19231.90204.07
Reserves and Surplus478.43317.57214.08197.58
Total Borrowing2.936.362.69

Amount in ₹ Crore

Objectives of the IPO

  • Expansion of the Supplier and Buyer base.
  • Amplification of value of our platform by adding new lines of businesses.
  • Inorganic growth through selective acquisitions and building synergies with our existing platform.
  • Leveraging data procured to offer bespoke travel solutions to our Buyers and Suppliers.

Promoters of the company

The Promoters of our Company are:

  1. Ankush Nijhawan
  2. Gaurav Bhatnagar
  3. Manish Dhingra
  4. Arjun Nijhawan
  5. LAP Travel Private Limited.

IPO details

IPO DateMay 8, 2024 to May 10, 2024
Listing DateWednesday, May 15, 2024
Face Value₹1 per share
Price Band₹875 to ₹920 per share
Lot Size16 Shares
Total Issue Size16,856,623 shares (aggregating up to ₹1,550.81 Cr)
Fresh Issue4,347,826 shares (aggregating up to ₹400.00 Cr)
Offer for Sale12,508,797 shares of ₹1 (aggregating up to ₹1,150.81 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE

Lot Allocation details

Retail (Min)116₹14,720
Retail (Max)13208₹191,360
Large-HNI (Min)681088₹1,000,960

Allocation Schedule

Basis of AllotmentMonday, May 13, 2024
Initiation of RefundsTuesday, May 14, 2024
The credit of Shares to DematTuesday, May 14, 2024
Listing DateWednesday, May 15, 2024
Cut-off time for UPI mandate confirmation5 PM on May 10, 2024

IPO Reservation

Investor CategoryShares Offered
QIB Shares OfferedNot less than 75.00% of the Net offer
Retail Shares OfferedNot more than 10.00% of the Offer
NII (HNI) Shares OfferedNot more than 15.00% of the Offer

To check allotment, click here