The initial public offering of TBO Tek Ltd. opened for subscription on Wednesday to raise up to Rs 1,550.8 crore. The IPO consists of a fresh issue of equity shares aggregating Rs 400 crore and an offer for sale of up to 1.25 crore equity shares by certain shareholders.
The travel distribution platform announced a price band of Rs 875–920 per equity share for the issue.
The company raised Rs 696 crore from anchor investors ahead of its IPO. It allotted 75.7 lakh shares at Rs 920 apiece to 47 anchor investors.
Issue Details
Issue opens: May 8.
Issue closes: May 11.
Issue price: Rs 875–920 per share.
Fresh issue: Rs 400 crore.
Offer for sale: Rs 1,150 crore.
Total issue size: Rs 1,550.8 crore.
Market value at the upper end of the price band: Rs 10,211 crore.
Listing: BSE and NSE.
Also Read: TBO Tek IPO: All You Need To Know
Use of Proceeds
The company will use approximately Rs 127 crore from the proceeds to strengthen its platform, by adding new buyers and suppliers via investing in technologies and infrastructure to support their plans. It will use Rs 40 crore for inorganic acquisitions and general corporate purposes.
Subscription Status: Day 1
The IPO has been subscribed 1.15 times or as of 5 p.m. on Wednesday.
Institutional investors: 0.01 times or 1%
Non-institutional investors: 2.08 times.
Retail investors: 3.14 times.
Employee reserved: 2.23 times.
Watch The IPO Adda Here
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