TBO Tek IPO: Price band set at ₹875-920 per share; check issue details here
₹875 to ₹920 per equity share. The company plans to raise ₹1,550.81 crore through an initial public offering (IPO).
The IPO consists of a fresh issue of 0.43 crore shares amounting to ₹400.00 crores and an offer-for-sale component of 1.25 crore shares amounting to ₹1,150.81 crores. The issue is being made through the book-building process, with up to 75% of the net issue available for allocation to Qualified Institutional buyers on a proportionate basis, 15% to non-institutional investors, and a minimum of 10% of the net issue available for allocation to retail investors on a proportionate basis.
Also Read: SK Finance files DRHP with SEBI to raise ₹2,200-crore via IPO; details here The minimum lot size for an application is 16 shares, requiring a minimum investment of ₹14,720 for retail investors to participate in the IPO. For sNII, the minimum lot size investment is 14 lots (224 shares), totaling ₹206,080, and for bNII, it is 68 lots (1,088 shares), totaling ₹1,000,960.
Axis Capital Limited, Jefferies India Private Limited, Goldman Sachs (India) Securities Private Limited, and JM Financial Limited serve as the book-running lead managers for the TBO Tek IPO, with KFin Technologies Limited acting as the registrar for the issue. The company plans to allocate the net proceeds from the issue to support various objectives.
These include expanding the supplier and buyer base, enhancing the value of the platform by introducing new lines of businesses, pursuing inorganic growth through targeted acquisitions, and fostering synergies with the existing platform. Also Read: Aadhar Housing Finance IPO price band set at ₹300-315 per share Additionally, the funds will be utilised to leverage acquired data for the development of
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