scorecard
  1. Home
  2. stock market
  3. news
  4. TBO Tek files IPO papers with Sebi again

TBO Tek files IPO papers with Sebi again

TBO Tek files IPO papers with Sebi again
Travel distribution firm TBO Tek Ltd has filed fresh preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The maiden public issue comprises a fresh issue of equity shares aggregating up to Rs 400 crore and an offer-for-sale of up to 15,635,996 equity shares by promoters and investors, according to the draft red herring prospectus (DRHP) filed on Wednesday.

Those selling shares in the OFS are promoters -- Gaurav Bhatnagar, Manish Dhingra and LAP Travel -- and investors -- TBO Korea and Augusta TBO.

Proceeds from the fresh issue will be used for growth and strengthening of the platform by adding new buyers and suppliers, unidentified inorganic acquisitions, besides, a portion will be used for general corporate purposes.

Before this, the company had filed draft papers with Sebi in December 2021 to float Rs 2,100 crore initial share-sale. However, the company didn't launch the IPO.

TBO Tek is a leading travel distribution platform in the global travel and tourism industry providing services to buyers and suppliers in over 100 countries as of June 30, 2023.

The company offers over 7,500 destinations and facilitates 33,000 bookings per day through their platform.

In October, investment firm General Atlantic announced that it would acquire a minority stake in TBO.

Axis Capital Ltd, Goldman Sachs (India) Securities Private Ltd, Jefferies India Private Ltd and JM Financial Ltd are the book-running lead managers of the issue.

The equity shares will be listed on the BSE and NSE.

SEE ALSO:

Multilingual global office calls might soon become easier with AI Live Translate Call

ESAF Small Finance Bank IPO allotment – how to check allotment, GMP, listing date and more

Six out of the top ten most selling cars in India in October are from Maruti Suzuki

READ MORE ARTICLES ON


Popular Right Now




Advertisement