TBO Tek’s shares debuted on the NSE and BSE at premiums of 55% and 50% respectively. The company’s appeal stems from its robust technological foundation, leveraging a proprietary platform. It raised funds from anchor investors for growth and inorganic acquisitions. IPO opening witnessed strong interest. General Atlantic acquired a minority stake in TBO.
Shares of TBO Tek debuted on NSE on Wednesday at a premium of 55%. The stock was listed at Rs 1,426 on NSE as against an issue price of Rs 920. On BSE, the stock debuted at Rs 1,380, a premium of 50%. Ahead of the debut, the company’s shares traded at a GMP of Rs 375.
The issue was booked over 80 times at close on strong interest from non-institutional investors. Ahead of the IPO opening, the company raised nearly Rs 697 crore from anchor investors.
TBO Tek’s appeal stems from its robust technological foundation. The company leverages a modular and scalable proprietary platform, enabling them to generate and utilize valuable data assets. This, coupled with a capital-efficient business model, positions TBO Tek for continued growth in the online travel sector.
TBO simplifies the business of travel for suppliers such as hotels, airlines and retail buyers such as travel agencies and enterprise buyers that include tour operators, travel management companies through the two-sided technology platform that enables suppliers and buyers to transact seamlessly with each other.The platform connects over 147,000 buyers across more than 100 countries with over one million suppliers, as of June 2023.
In 2023 the travel and tourism industry is estimated to recover at pace, growing 18% year-on-year from 2022 to reach $1.9 trillion, and is expected to grow at a CAGR of 8.2% to reach $2.6 trillion in 2027.
