TBO Tek IPO: Issue subscribed 52.46 times on day 3, check GMP and other details

The TBO Tek initial public offerings (IPO) opened for subscription on May 8, 2024 and closed on May 10, 2024. The IPO of travel distribution company was subscribed over 52.46 times on the final day of bidding on Friday.

The company optimizes the travel sector for various suppliers, including hotels, airlines, car rentals, transfers, cruises, insurance providers, rail companies, and more. It also serves retail clients such as travel agencies and freelance travel consultants, as well as corporate clients like tour operators, travel management firms, online travel platforms, super apps, and loyalty programs. All these stakeholders enjoy the advantages of smooth communication facilitated by the two-sided technology platform.

Also read: TBO Tek IPO day 3: GMP, subscription status to review. Should you apply?

Ankush Nijhawan, Arjun Nijhawan, Manish Dhingra, and Gaurav Bhatnagar are the promoters of the company.

TBO Tek Limited witnessed a significant growth in its profit after tax (PAT), soaring by 340.4%, and its revenue also surged by 112.09% between March 31, 2022, and March 31, 2023.

TBO Tek IPO subscription status

The public issue garnered a subscription rate of 52.46 times, with the retail portion of the book build issue being oversubscribed by 12.97 times. The NII portion witnessed a subscription of 33.67 times, while the QIB segment saw an overwhelming subscription rate of 75.29 times, as per BSE data.

Also read: TBO Tek IPO continues to see strong demand from retail, NIIs on day 2; issue booked 4.15 times. Check GMP

TBO Tek IPO details

The IPO comprises new issuance of 0.43 crore shares valued at 400 crores and an offer-for-sale segment of 1.25 crore shares valued at 1,150.81 crores. The price range for the issue was set between 875 and 920 per equity share with a face value of 1.

Conducted through the book-building process, up to 75% of the net issuance is designated for allocation to Qualified Institutional buyers proportionally, with 15% for non-institutional investors and at least 10% of the net issuance allocated proportionally to retail investors.

Retail investors must apply for a minimum lot size of 16 shares, requiring a minimum investment of 14,720 to participate in the IPO. For Non-Institutional Investors (NIIs), the minimum lot size investment is 14 lots (equivalent to 224 shares), totaling 206,080, while for Big Non-Institutional Investors (NIIs), it’s 68 lots (1,088 shares), totaling 1,000,960.

Also read: TBO Tek IPO to open tomorrow: GMP, issue details, 10 key things to know before investing to 1,551-crore issue

TBO Tek IPO GMP today

Today, the grey market premium (GMP) for the TBO Tek IPO stands at 535, marking a decrease of 5 compared to Thursday’s GMP of 540. This means that the estimated listing price of the TBO Tek IPO would be 1,455, which is 58.15 per cent higher than the IPO price of 920.

According to investorgain.com, the lowest GMP of TBO Tek IPO is 0, while the highest GMP is 540.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

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Published: 10 May 2024, 07:51 PM IST

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