TBO Tek IPO: Firm files DRHP with SEBI to raise ₹400 crore, offer for sale for 1.56 crore shares

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₹ 400 crore through an initial public offering (IPO). The company's IPO comprises a fresh issue of up to ₹400 crore.

Additionally, there is an offer-for-sale (OFS) of 1.564 Crore equity shares by a promoter and investors, according to the draft papers. TBO proposes to utilize the Net Proceeds from the Fresh Issue towards growth and strengthening of the platform by adding new buyers and Suppliers, Unidentified inorganic acquisitions and general corporate purposes.

Also Read- ESAF IPO: Latest GMP, how to check allotment status online TBO Tek Limited, a leading travel distribution platform in the global travel and tourism industry providing services to Buyers and Suppliers in over 100 countries (as of June 30, 2023) with a comprehensive travel inventory, The Offer for Sale up to 15,635,996 equity shares comprises of up to 2,033,944 equity shares by Gaurav Bhatnagar; up to 572,056 equity shares by Manish Dhingra; up to 2,606,000 equity shares by LAP Travel collectively referred to as “Promoter Selling Shareholders"(The “Promoter Selling Shareholders") and up to 3,767,200 equity shares by TBO Korea and upto 6,656,796 equity shares by Augusta TBO referred to as “Investor Selling Shareholders"( The Investor Selling Shareholders"). Axis Capital Limited, Goldman Sachs (India) Securities Private Limited, Jefferies India Private Limited and JM Financial Limited are the Book Running Lead Managers of the issue.

TBO proposes to utilize the net proceeds from the Fresh Issue towards Growth and strengthening of the platform by adding new Buyers and Suppliers, Unidentified inorganic acquisitions and general corporate purposes. Also Read- Apollo Hospitals Q2 results preview: Improving occupancy to drive revenues- TBO platform connects