TBO Tek IPO
TBO Tek IPO — date, price band, lot size & details 2024
TBO Tek listed on 15 May 2024 at ₹1,426, 55% above the ₹920 issue price.
TBO Tek is a global online travel distribution platform connecting travel suppliers such as hotels and airlines with travel agencies and other buyers in over 100 countries. Its total income was Rs 1,085.77 crore in FY2023.
Stock price
TBO Tek is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 08 May 2024
- Close 10 May 2024
- Allotment 13 May 2024
- Refund/credit 14 May 2024
- Listing 15 May 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 8 to 10 May, 2024 |
|---|---|
| Price Band | ₹875 – ₹920 |
| Face Value | ₹1 |
| Lot Size | 16 Shares |
| Issue Size | ₹1550.81 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,720 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 16 shares at the ₹920 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 16 | ₹14,720 |
| Retail (max) | 13 | 208 | ₹1,91,360 |
| S-HNI (min) | 14 | 224 | ₹2,06,080 |
| S-HNI (max) | 67 | 1,072 | ₹9,86,240 |
| B-HNI (min) | 68 | 1,088 | ₹10,00,960 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 176.55 crore in FY2021 to Rs 1,085.77 crore in FY2023.
- 02The company turned from a loss of Rs 34.14 crore in FY2021 to a profit of Rs 148.49 crore in FY2023.
- 03Profit after tax was Rs 154.18 crore in the nine months to 31 December 2023.
- 04Borrowing was negligible at Rs 2.93 crore on 31 December 2023.
- 05The source puts return on net worth at 30.76%.
Risks · 5
- 01The pre-issue P/E was 64.58 at the upper band of Rs 920, based on EPS of Rs 14.25.
- 02Rs 1,150.81 crore of the Rs 1,550.81 crore issue was offer for sale.
- 03Travel demand falls sharply in shocks, as seen with the loss in FY2021.
- 04Travel distribution is competitive, and operating in over 100 countries adds currency and regulatory risk.
- 05Promoters held 51.26% before the issue and 44.41% after it.
Three years of numbers
All figures in ₹ crore, as reported in the TBO Tek offer document.
| Metric | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 3,754.05 | 2,557.93 | 1,271.43 | 576.16 |
| Total Income | 1,039.56 | 1,085.77 | 511.93 | 176.55 |
| Profit After Tax | 154.18 | 148.49 | 33.72 | -34.14 |
| NET Worth | 501.21 | 337.19 | 231.90 | 204.07 |
| Reserves and Surplus | 478.43 | 317.57 | 214.08 | 197.58 |
| Total Borrowing | 2.93 | 6.36 | 2.69 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the TBO Tek RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
TBO Tek IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹14.25 | ₹18.93 |
| P/E Ratio (x) | 64.58 | 48.60 |
| Market Cap at Offer Price (₹ Cr) | ₹9,954.08 | ₹7,493.16 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹920 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹381.06 Cr of the issue is earmarked to named objects.
About the company
Its two-sided technology platform connects suppliers such as hotels, airlines, car rentals, transfers, cruises, insurance and rail companies with buyers such as travel agencies, independent travel consultants, tour operators, travel management companies, online travel companies and super apps.
It operates in over 100 countries and supports a wide range of currencies. Its promoters are Ankush Nijhawan, Gaurav Bhatnagar, Manish Dhingra, Arjun Nijhawan and LAP Travel.
The IPO was Rs 1,550.81 crore, with Rs 400.00 crore of fresh issue and Rs 1,150.81 crore of offer for sale by promoters and investors. Fresh money was planned for growing the platform, technology, overseas expansion and acquisitions.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
TBO Tek IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
125 issues handledBest listing: Tata Technologies (+140.0%). Weakest: ACME Solar Holdings (-13.1%).
Axis Capital
126 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Jefferies India Private Limited
34 issues handledBest listing: Nazara Technologies (+80.7%). Weakest: Turtlemint Fintech Solutions (-10.4%).
Goldman Sachs (India) Securities Private Limited
14 issues handledBest listing: Bajaj Housing Finance (+114.3%). Weakest: Paytm (-9.3%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of TBO Tek?
The current Grey Market Premium is ₹360, or 39% over the issue price.
What is the TBO Tek IPO price band?
₹875 to ₹920, on a face value of ₹1.
When is the allotment?
The basis of allotment is 13 May 2024, with listing on 15 May 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
