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20 Nov 2024
TBO TEK Limited IPO
Travel Boutique Online is India's leading travel distribution platform. For over a decade now, they are enabling the partners to serve their customers efficiently, with the right pricing and inventory. They deliver a wide range of travel solutions for the travel agents and tour operators across India including metro cities like New Delhi, Mumbai, Chennai and Kolkata to help them take their business to new heights. Their services include White Label Solutions, Hotel and Flight Booking APIs, Dynamic Packages and in the recent years. TBO Tek IPO is a book built issue of Rs 1,550.81 crores.
The issue is a combination of fresh issue of 0.43 crore shares aggregating to Rs 400.00 crores and offer for sale of 1.25 crore shares aggregating to Rs 1,150.81 crores. TBO Tek IPO price band is set at ₹875 to ₹920 per share. The minimum lot size for an application is 16 Shares. Axis Capital Limited, Jefferies India Private Limited, Goldman Sachs (India) Securities Private Limited and Jm Financial Limited are the book running lead managers of the TBO Tek IPO, while Kfin Technologies Limited is the registrar for the issue.
TBO Tek IPO Overview
| Detail | Description |
|---|---|
| IPO Date | May 8, 2024 to May 10, 2024 |
| Listing Date | [.] |
| Face Value | ₹1 per share |
| Price Band | ₹875 to ₹920 per share |
| Lot Size | 16 Shares |
| Total Issue Size | 16,856,623 shares (aggregating up to ₹1,550.81 Cr) |
| Fresh Issue | 4,347,826 shares (aggregating up to ₹400.00 Cr) |
| Offer for Sale | 12,508,797 shares of ₹1 (aggregating up to ₹1,150.81 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 104,239,961 |
| Share holding post issue | 108,587,787 |
TBO Tek IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| IPO Open Date | Wednesday, May 8, 2024 |
| IPO Close Date | Friday, May 10, 2024 |
| Basis of Allotment | Monday, May 13, 2024 |
| Initiation of Refunds | Tuesday, May 14, 2024 |
| Credit of Shares to Demat | Tuesday, May 14, 2024 |
| Listing Date | Wednesday, May 15, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 10, 2024 |
TBO Tek IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 16 | ₹14,720 |
| Retail (Max) | 13 | 208 | ₹191,360 |
| S-HNI (Min) | 14 | 224 | ₹206,080 |
| S-HNI (Max) | 67 | 1,072 | ₹986,240 |
| B-HNI (Min) | 68 | 1,088 | ₹1,000,960 |
TBO Tek IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not less than 75.00% of the Net offer |
| Retail Shares Offered | Not more than 10.00% of the Offer |
| NII (HNI) Shares Offered | Not more than 15.00% of the Offer |
TBO Tek IPO Promoter Holding
| Share Holding Pre Issue | 51.26% |
| Share Holding Post Issue |
Company & Financials
TBO Tek Ltd. (TTL) is one of the leading travel distribution platform in the global travel and tourism industry in terms of GTV and revenue from operations for Fiscal 2023 providing a wide range of offerings operating in over 100 countries by providing Buyers with a comprehensive travel inventory according to the needs of their customers and supporting a wide range of currencies along with forex assistances. It simplifies the business of travel for suppliers such as hotels, airlines, car rentals, transfers, cruises, insurance, rail and others and retail buyers such as travel agencies and independent travel advisors and enterprise buyers that include tour operators, travel management companies, online travel companies, super-apps and loyalty apps through its two-sided technology platform that enables Suppliers and Buyers to transact seamlessly with each other. TTL's booking per day increased from 13396 (FY21) to 40164 (FY23) to 44592 (9M-FY24). As of December 31, 2023, the company had 1717 employees’ On-roll and 283 Off-roll. In 2023 the travel and tourism industry was US$ 1.9 trillion, and expected to grow at a CAGR of approximately 8.2% to reach US$ 2.6 trillion in 2027. This indicates the prospects for this company going forward.
TBO Tek Limited Financial Information
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | ||||||||||||||||||||||||||||||||||||
| Assets | 3,754.05 | 2,557.93 | 1,271.43 | 576.16 | ||||||||||||||||||||||||||||||||||||
| Revenue | 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 | |||||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| RoNW | 30.76 |
| P/BV | 18.66 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 14.25 | 18.93 |
| P/E (x) | 64.58 | 48.6 |
Objectives of TBO Tek IPO
The company intends to utilize the net proceeds from the issue towards the funding of the following objectives:
- 1. Expansion of the Supplier and Buyer base.
- 2. Amplification of value of our platform by adding new lines of businesses.
- 3. Inorganic growth through selective acquisitions and building synergies with our existing platform.
- 4. Leveraging data procured to offer bespoke travel solutions to our Buyers and Suppliers.
TBO Tek IPO Review
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 annualized earnings, the issue appears fully priced, but at lower P/E compared to listed peer. The company is poised for bright prospects as the global travel segment is poised for growth as indicated by recent trends. Investors may park funds for the medium to long term rewards.
FAQs for TBO Tek IPO
-
What Is The Size Of The TBO Tek Limited IPO?
TBO Tek Limited plans to launch an Initial Public Offering (IPO). This comprises a new share issuance of INR 400 crores and the sale of 1.56 crores of existing equity shares. The funds generated will be utilized for expanding the platform with new Buyers and Suppliers, pursue unidentified acquisitions, and address general corporate needs.
-
What Is The Price Band Of The TBO Tek Limited IPO?
The price band of the TBO Tek Limited IPO is INR 875 to 920 per share.
-
What is TBO TEK IPO Size?
TBO TEK IPO size is ₹1551 crores.
-
What is the TBO TEK IPO Allotment Date?
TBO TEK IPO allotment date is May 13, 2024.
-
What is the TBO TEK IPO Listing Date?
TBO TEK IPO listing date is May 15, 2024. The IPO is to list on BSE and NSE.
-
What Is The Size Of The TBO Tek Limited IPO?
TBO Tek Limited plans to launch an Initial Public Offering (IPO). This comprises a new share issuance of INR 400 crores and the sale of 1.56 crores of existing equity shares. The funds generated will be utilized for expanding the platform with new Buyers and Suppliers, pursue unidentified acquisitions, and address general corporate needs.
-
What Is The Price Band Of The TBO Tek Limited IPO?
The price band of the TBO Tek Limited IPO is INR 875 to 920 per share.
-
What is TBO TEK IPO Size?
TBO TEK IPO size is ₹1551 crores.
-
What is the TBO TEK IPO Allotment Date?
TBO TEK IPO allotment date is May 13, 2024.
-
What is the TBO TEK IPO Listing Date?
TBO TEK IPO listing date is May 15, 2024. The IPO is to list on BSE and NSE.
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