TBO Tek Limited, a leading travel distribution platform in the global travel and tourism industry, recently completed the public listing of its equity shares in India via the National Stock Exchange of India Limited (NSE) and the BSE Limited (BSE). The company raised approximately 186 million USD (Rs. 1,550 crore) from this Initial Public Offer.
The issue received an overwhelming response across all categories of investors, being oversubscribed 86.70 times overall. The Qualified Institutional Buyers (QIB) portion was subscribed 125.
51 times, while the Non-Institutional Investors (NII) portion received a subscription of 50.60 times. The Retail Individual Investors portion received 25.
74 times, while the portion reserved for employees received 17.82 times subscription. The company was listed on May 15, 2024 on the aforementioned Indian stock exchanges with a premium of 50% plus over the issue price.
said, “Ankush Nijhawan (Co-Founder, Joint MD, TBO Tek) and myself are delighted to announce the successful listing of our company on the stock exchanges. TBO’s listing on the Indian stock exchanges marks a significant milestone in our company’s journey. This accomplishment paves the way for new opportunities, enabling us to drive innovation, expand our reach, and enhance value for our shareholders and customers.
We are poised for a future of sustained growth and success.” In the Middle East, TBO is known for its pathbreaking B2A strategy – an acronym for Business to Travel.