TBO Tek IPO: Everything You Need to Know:

TBO Tek, a leading player in the travel technology industry, is all set to launch its initial public offering (IPO) for subscription starting on May 8. In this article, we will delve into the details of this much-anticipated IPO and what investors can expect.

What is TBO Tek?

TBO Tek is a revolutionary platform that simplifies the business of travel for suppliers and buyers in the industry. Suppliers such as hotels, airlines, travel agencies, and tour operators can seamlessly connect with buyers across the globe through TBO Tek's two-sided technology platform.

Key Details of the IPO:

• The IPO will open for subscription on May 8 and close on May 10.

• The price band for the issue will be announced soon.

• The issue includes fresh equity of Rs 400 crore and an offer for sale of up to 1.25 crore shares.
  Recent Developments:
  TBO Tek had filed its draft prospectus papers in November last year and received approval for the same earlier this month. Recently, leading investment firm General Atlantic acquired a minority stake in TBO Tek, signaling confidence in the company's growth potential.
  Financial Performance:
  Although the travel and tourism industry saw a downturn in 2023 due to the pandemic, TBO Tek remains optimistic about the future. For the three months ended June, the company reported a decline in revenue and profit after tax, but it is gearing up for growth with plans to utilize the proceeds from the IPO towards expanding its platform and exploring inorganic acquisitions.
  How Will the Proceeds be Utilized?
  The net proceeds from the fresh issue will be used for:

• Growth and strengthening of the platform by adding new buyers and suppliers.

• Undertaking inorganic acquisitions.

• General corporate purposes.
  

This issue is being managed by:

• Axis Capital

• Goldman Sachs (India)

• Jefferies India

• JM Financial
  
  As TBO Tek gears up for its IPO, investors have the opportunity to be a part of a company that is revolutionizing the travel technology industry. With a proven track record and strategic growth plans, TBO Tek is poised for success in the coming years.