TBO Tek: Mutual Funds Acquire 4.12% Stake For Rs 537 Crore
Public shareholders Augusta TBO (Singapore) and TBO Korea Holdings sold a 6.7% stake for Rs 870 crore through open-market transactions.
SBI Mutual Fund, ICICI Prudential MF and Nippon India MF purchased a 4.12% stake on Friday in TBO Tek Ltd. for Rs 537 crore via open market deals.
The mutual funds acquired a total of 44.7 lakh shares of the travel services technology platform through three separate transactions on the BSE.
Nippon India MF bought 28.1 lakh shares, SBI MF picked up 8.78 lakh shares and ICICI Prudential MF purchased 7.83 lakh shares. Each share was bought at an average price of Rs 1,200, adding up to a total of Rs 536.8 crore.
Augusta TBO (Singapore) Pte and TBO Korea Holdings, both public shareholders, sold a 6.7% stake in TBO Tek for Rs 870 crore through open market transactions. Augusta TBO sold 46.29 lakh shares, representing 4.3% of the company, while TBO Korea Holdings sold 26.20 lakh shares, equivalent to a 2.42% stake.
The shares were sold at an average price of Rs 1,200.02–1,200.04, totaling Rs 870 crore.
After the stake sale, Augusta TBO's holding in TBO Tek has come down to 5.41% from 9.71% and TBO Korea Holdings stake to 3.08% from 5.50%.
In December last year, Augusta TBO Singapore and TBO Korea Holdings pared a total of 5.9% stake TBO Tek for nearly Rs 935 crore.
(With PTI Inputs)
