TBO Tek Share Price Surges 55% in Bumper Debut on NSE

TBO Tek share price made a remarkable debut on the National Stock Exchange (NSE) today, opening at Rs1,426 per share, representing a substantial 55% premium over the issue price of Rs920.

On the Bombay Stock Exchange (BSE), TBO Tek shares also started strong at Rs1,380 apiece, marking a 50% increase from the issue price.

Market experts had anticipated the opening price to fall in the Rs1,360 to Rs1,400 per share range.

During the final subscription day, TBO Tek’s IPO was oversubscribed by a significant 86.70 times, reflecting enduring investor interest.

The offering was structured with a price band of Rs875 to Rs920 per equity share, comprising 16 shares per lot. The IPO consisted of a fresh issue of Rs400 crore and an offer-for-sale (OFS) component as well.

TBO Tek is a key player in streamlining the travel industry for a wide range of suppliers, including airlines, hotels, rental cars, and more. Their technology platform, as outlined in the Red Herring Prospectus, caters to a diverse clientele, from travel agencies to corporate tour operators.

Corporate insiders and public investors own 51.26% and 46.43%, respectively, of the online travel distributor. Notable investors in TBO Tek include Augusta TBO, General Atlantic, and TBO Korea.

The IPO proceeds will fuel the company’s expansion plans, including broadening their supplier and buyer network, introducing new business categories, and exploring inorganic growth strategies.

Book Running Lead Managers for the IPO include Axis Capital Limited, Jefferies India Private Limited, and other prominent firms.