May 8, 2024
By: Sourabh Jain
Credit: TBO Tek
New Delhi-based TBO Tek’s initial public offering (IPO) opened on Wednesday, May 8, and will close on Friday, May 10.
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TBO Tek has fixed a price band of ₹875-₹920 per share for its public issue.
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TBO Tek is a New Delhi-based travel distribution platform that offers travel inventory according to the needs of its customers. It also offers a wide range of currencies, with forex help.
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TBO Tek is looking to raise ₹1,550.81 crore from the current IPO. This includes a fresh issue of ₹400 crore and an offer for sale (OFS) component of ₹1,150.81 crore.
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Investors can bid for a minimum of 16 shares and in multiples of 16 shares thereafter.
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In FY23, TBO Tek on average received over 41,000 bookings per day on its platform. It has over 7,500 destinations across 100 countries.
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The company’s income was ₹1,085.77 crore in FY23, up from ₹511.93 crore in FY22. The company reported a net profit of ₹148.49 crore in FY23, up from ₹33.72 crore in FY22.
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The company operates in a highly competitive industry and the tourism industry is also highly sensitive to external factors, which could pose a risk to the company.
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The company is highly dependent on a limited number of suppliers and is exposed to pricing pressures as set by suppliers.
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