TBO Tek DRHP Analysis - A Leading Global Travel Distribution Platform: Anand Rathi

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Anand Rathi Report.An aggregator, Travel Boutique Online (TBO Tek) helps travel distribution between suppliers (e.g. more than 750 airlines, ~1 million hotels globally) and buyers (travel agencies, independent travel advisors, etc.). Travel suppliers need a way to market their inventory efficiently to buyers, who in turn need access to these to meet their customers’ travel requirements. Being modular (offering need-specific modules) and asset-light, this platform is scalable with the potential to launch new solutions, thereby creating a network effect. Over FY19-23, revenue/Ebitda clocked 24.7%/43.7% compound annual growth rates..Key risks:The top-five suppliers contributed ~60.5% of gross transaction value in Q1 FY24; high concentration risks in the hotels segment (a single customer accounts for ~36% segment revenue, etc.).Issue detailsThe maiden public issue comprises a fresh issue of equity shares aggregating up to Rs 400 crore and an offer-for-sale of up to ~15.64 million equity shares equity shares by promoters and investors..Objects of the issueGrowing and strengthening the platform by adding buyers and suppliersInvestment in technology and data solutionsInvestment in material subsidiary, Tek Travels DMCC, to onboard platform-users via marketing; hiring sales and contracting personnel to augment supplier and buyer bases outside IndiaInvestment in sales, marketing and infrastructure for growth plans in India.Inorganic acquisitionsGeneral corporate purposes .Click on the attachment to read the full report:.JNK India IPO - Investment Rationale, Issue Details, Financials, Key Strategies, Risks: Anand Rathi.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

TBO Tek DRHP Analysis - A Leading Global Travel Distribution Platform: Anand Rathi

TBO is positioning itself not just to adapt to the changing landscape of travel but to actively shape it

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TBO Tek DRHP Analysis - A Leading Global Travel Distribution Platform: Anand Rathi

TBO is positioning itself not just to adapt to the changing landscape of travel but to actively shape it

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