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TBO Tek Limited IPO : All You Need to Know

TBO Tek Limited IPO is set to launch on 8 May, 2024. The company initiated its business operations in the year 2006, formerly known as Tek Travels Private Limited, is a travel distribution platform that offers travel inventory according to the needs of its customers and supports a wide range of currencies along with forex help. The company simplifies the travel business for suppliers such as hotels, airlines, car rentals, transfers, cruises, insurance, rail companies, and others, as well as for retail customers such as travel agencies and independent travel consultants, and corporate customers such as tour operators, travel management companies, online travel companies, super apps and loyalty apps through our two-sided technology platform that enables suppliers and customers to connect seamlessly.

The company’s platform enables sellers to show and market their inventory and set prices for buyers. For buyers, the platform is an integrated, multi-currency, and multi-lingual, one-stop solution that helps them discover and book travel to destinations around the world, across various travel segments such as leisure, business and religious travel.

TBO Tek Limited : IPO DETAILS

TBO Tek Limited IPO is set to launch on 8 May, 2024. The subscription timeline extends till 10 May, 2024. The size for the IPO is Rs. 1550.81 Crore. Shares issued through fresh issue mode are worth Rs 400 Crore. Shares issued through offer for sale mode are worth Rs. 1150.81 Crore. The lot size is 16 shares and the price is Rs. 875 to Rs. 920 per share. The company is going to get listed at BSE & NSE Mainboard. The face value per share is Rs.1 and this is a Book Built Issue. The registrar for the company is Kfin Technologies Limited.

Tabular Description of TBO Tek Limited IPO

IPO OPENING DATE	8 May, 2024
CLOSING DATE FOR IPO	10 May, 2024
ISSUE TYPE	Book Built Issue
Face Value per share	Rs. 1 per share
IPO price band	Rs. 875 to Rs. 920 per share
LOT SIZE	16 shares
MINIMUM ORDER QUANTITY	16 shares
ISSUE SIZE	Rs. 1550.81 Crore
OFFER FOR SALE	Rs. 1150.81 Crore
FRESH ISSUE	Rs. 400 Crore
LISTING AT	BSE & NSE Mainboard
LISTING DATE	15 May, 2024

TBO Tek Limited IPO: IMPORTANT DATES

IPO OPENING DATE	8 May, 2024
CLOSING DATE FOR IPO	10 May, 2024
IPO ALLOTMENT DATE	13 May, 2024
REFUNDS	14 May, 2024
DEMAT A/C CREDITED ON	14 May, 2024
IPO LISTING DATE	15 May, 2024

TBO Tek Limited IPO begins for subscription from 8 May, 2024. The IPO subscription would continue till 10 May, 2024. The allotment status for the shareholders who applied would come on 13 May, 2024. The refunds for the ones who did not get allotment would be initiated on 14 May, 2024. The DEMAT accounts of shareholders would be credited on 14 May, 2024. The listing of the company would be completed on 15 May, 2024.

TBO Tek Limited IPO: Lead Managers

The lead managers are :

Axis Capital Limited
Jefferies India Private Limited
Goldman Sachs (India) Securities Private Limited
JM Financial Limited

The minimum lot size for retail investors is 16 shares, amounting to Rs. 14720. The maximum lot size for retail investors is 208 shares, amounting to Rs. 191360. The minimum and maximum lot size for S-HNI and B-HNI are as under:

	Shares	Amount
Retail (Minimum)	16 shares	Rs. 14720
Retail (Maximum)	208 shares	Rs. 191360
S-HNI (Minimum)	224 shares	Rs. 206080
S-HNI (Maximum)	1072 shares	Rs. 986240
B-HNI (Maximum)	1088 shares	Rs. 1000960

OBJECTIVES FOR THE IPO

Expansion of the Supplier and Buyer base
Amplification of value of our platform by adding new lines of businesses
Inorganic growth through selective acquisitions and building synergies with our existing platform
Leveraging data procured to offer bespoke travel solutions to our Buyers and Suppliers

COMPANY FINANCIALS

Particularly (in Rs. Crore)	2020-21	2021-22	2022-23	Dec-2023
Asset	576.16	1271.43	2557.93	3754.05
Revenue	176.55	511.93	1085.77	1039.56
PAT	-34.13	33.72	148.49	154.18

TBO Tek Limited had an asset base of Rs. 576.16 Crore in 2021 which increased to Rs. 2557.93 Crore in 2023.The asset base of the firm jumped to Rs. 3754.05 Crore as on Dec-2023. The revenue for the company was Rs. 176.55 Crore in 2021, which increased to Rs. 1085.77 Crore in 2023. The revenue for 9 months ending December 2023 was Rs. 1039.56 Crore. The profit of the company increased from Rs. -34.13 Crore in 2021 to Rs. 148.49 Crore in 2023. The profit generated for the 9 months ending December 2023 was Rs. 154.18 Crore.

PROS

The company is one of the leading travel distribution platforms in the global travel and tourism industry having presence in over 100 countries and offering major travel related services under one roof.
After suffering a setback for FY21 due to the Pandemic, it marked steady growth from FY22 onwards. Based on FY24 annualised earnings, the issue appears fully priced, but at lower P/E compared to listed peers.
The company is poised for bright prospects as the global travel segment is poised for growth as indicated by recent trends.

TBO Tek Limited IPO Application Process with Zerodha

It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :

Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
Click the TBO Tek Limited IPO button and press the BID button.
Entering the details asked for like UPI ID, Quantity and price.
Submit the application form for the IPO.
Visiting the application of UPI for approving the transaction.

Now, applying for an IPO online is possible with most of the Discount and online brokers.

dhairya@socialcoffee.in