TBO Tek share price makes a bumper debut, stock opens with 55% premium at ₹1,426 apiece on NSE
₹920. On BSE, TBO Tek share price today opened at ₹1,380 apiece, up 50% than the issue price. Market experts anticipated TBO Tek share price to open in the range of ₹1,360 to ₹1,400 per share.
On Friday, the final day of subscriptions, TBO Tek's initial public offering was subscribed 86.70 times, according to NSE data. The segment allocated for qualified institutional buyers (QIBs) received 125.51 times subscriptions, but the non-institutional investor group received 50.60 times as many subscribers. The section for retail individual investors (RIIs) received 25.74 times subscriptions.
The price band for each equity share in the offering, which has a face value of Re 1, has been set between ₹875 and ₹920. 16 equity shares make up each lot in the IPO, and more lots of 16 equity shares will be issued in the future. The IPO set aside 75% of the net offer for QIBs, 15% for NIIs, and 10% for retail investors.
Employees have reserved equity shares worth up to ₹3 crore. The company streamlines the travel industry for suppliers including lodging facilities, airlines, rental cars, transfers, cruise lines, insurance, and rail companies, among others. Travel agencies and independent travel advisers are examples of retail clients; corporate clients include tour operators, travel management organisations, online travel agencies, super apps, and loyalty apps.
The seamless communication made possible by the two-sided technology platform benefits each of these parties equally. TBO Tek IPO, which is worth ₹1,550.81 crore, comprises a fresh issue of ₹400 crore, and an offer-for-sale (OFS) of up to 12,508,797 equity shares of face value of Re 1 each by the promoters and other investors. 52.12 lakh shares will be offered through OFS,
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