TBO Tek IPO day 3: GMP, subscription status to review. Should you apply?

TBO Tek IPO GMP today

Despite anemic trends connected Dalal Street, the TBO Tek IPO grey marketplace premium (GMP) contiguous is ₹550, which is ₹21 higher than Wednesday's TBO Tek IPO GMP of ₹529. This emergence successful the TBO Tek IPO GMP is simply a testament to the affirmative sentiments successful the grey market, which are expected to construe into a beardown debut of shares connected the listing date. The beardown effect from superior marketplace investors has further bolstered these affirmative sentiments.

TBO Tek IPO subscription status

After 2 days of bidding, the publication physique contented has been booked 4.15 times, a wide denotation of the beardown capitalist interest. The retail information has been subscribed 10.01 times, demonstrating the retail investors' assurance successful the company. The NII conception of the nationalist connection has been booked 8.19 times, portion the QIB information received booking to the tune of 0.17 times, showing a balanced involvement crossed capitalist categories.

TBO Tek IPO review

BP Equities has fixed a 'subscribe' standing to the TBO Tek IPO, citing respective reasons. From a valuation perspective, portion the archetypal P/E ratio of 65x whitethorn look elevated, it aligns with manufacture standards for integer e-commerce level businesses. However, the extrapolated FY24E EPS indicates a much tenable P/E ratio of 45x. The company's quality to support precocious maturation and profitability, coupled with its fine-tuned concern model, instils assurance successful its semipermanent prospects. As TBO Tek continues to monetize its integer level and capitalize connected emerging opportunities, the institution is poised to look arsenic a formidable subordinate successful the integer commerce landscape. This broad investigation forms the ground of the 'subscribe' standing for the issue.

Prashanth Tapse, Senior VP — Research astatine Mehta Equities, has advised investors to use for the TBO Tek IPO. He noted that astatine the precocious set of ₹920/-, the contented is asking for a Market Cap of Rs.9990/- Cr. Based connected annualized FY 2024 net and afloat diluted post-IPO paid-up capital, the institution is asking a PE of 48.6x which seems tenable by looking astatine manufacture growth. With innovative platform, strategical attack to information utilization and committedness to fostering a collaborative ecosystem solidifying their presumption successful the dynamic question and tourism manufacture with important maturation potential. Hence, considering each the parameter, helium recommends investors to “SUBSCRIBE" the contented for listing summation only. This proposal is successful enactment with the 'subscribe' standing fixed by different fiscal institutions.

Reinforcing the affirmative outlook, Arihant Capital, Canara Bank Securities, Indsaec Securities, Marwadi Shares and Finance, Nirmal Bang, Ventura Securities, and Sushil finace person each fixed a 'subscribe' tag to the publication physique issue. This unanimous proposal from aggregate fiscal firms should supply imaginable investors with a consciousness of assurance successful the IPO's potential.

Disclaimer: The views and recommendations provided successful this investigation are those of idiosyncratic analysts oregon broking companies, and not Mint. We powerfully counsel investors to consult with certified experts earlier making immoderate concern decisions, arsenic marketplace conditions tin alteration rapidly and idiosyncratic circumstances whitethorn vary.

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Published: 10 May 2024, 09:25 AM IST