TBO Tek IPO opens today: GMP, review, other details of General Atlantic-backed public issue. Apply or not?

Important TBO Tek IPO details

1] TBO Tek IPO GMP: Shares of the institution are disposable astatine a premium of ₹529 per stock successful the grey marketplace today, accidental marketplace observers.

2] TBO Tek IPO price: The institution has fixed terms set of the General Atlantic-backed nationalist contented astatine ₹875 to ₹920 apiece.

3] TBO Tek IPO date: The publication physique contented has opened contiguous and volition stay unfastened till 10th May 2024.

4] TBO Tek IPO size: The institution aims to rise ₹1,550.81 crore from this nationalist offer, which is simply a premix of caller shares and OFS.

5] TBO Tek IPO batch size: A bidder volition beryllium capable to use successful tons and 1 batch of the publication physique contented comprises 16 shares.

6] TBO Tek IPO allotment date: Finalization of stock allocation is astir apt connected 13th May 2024 i.e. connected Monday adjacent week.

7] TBO Tek IPO registrar: KFin Technologies has been appointed arsenic authoritative registrar of the publication physique issue.

8] TBO Tek IPO listing: The nationalist contented is projected for listing connected BSE and NSE.

9] TBO Tek IPO listing date: In the aftermath of the 'T+3 listing rule", the astir apt TBO Tek IPO listing day is 15th May 2024 i.e. Wednesday adjacent week.

TBO Tek IPO: Apply oregon not?

10] TBO Tek IPO review: Speaking connected the nationalist issue, Tarun Singh, MD astatine Highbrow securities said, "TBO Tek Ltd.’s IPO, marked by a important Offer for Sale (OFS), presents a analyzable script for imaginable investors. This planetary question organisation leader, acceptable to grow pursuing FY2023’s achievements, navigates an manufacture susceptible to planetary uncertainties, highlighted during the pandemic and existent geopolitical tensions limiting travel. Its financials bespeak specified volatility, suggesting a sensitivity that whitethorn not beryllium good with the steep valuations sought, offering constricted medium-term gains for shareholders. Furthermore, the IPO's structure, heavy leaning connected an OFS, and the humble proceeds from the caller contented rise questions astir its adequacy for TBO Tek’s operational scale," adding, "Despite support

from renowned underwriters, the offering lacks the compelling clarity needed for a beardown concern case, prompting maine to pivot to SME IPOs that mightiness amended bespeak worth and stableness successful an unpredictable marketplace environment."

Endorsing the TBO Tek IPO with a 'subscribe' tag, Marwadi Financial Services, a reputable fiscal institution, provides a elaborate analysis. They see the TTM (Dec-23) / FY24-Annualized EPS of ₹16.80/18.93 connected a post-issue basis, projecting the institution to database astatine a P/E of 54.77x/48.59x with a marketplace headdress of Rs.99,901 mn, whereas its adjacent namely Rategain Travel Technologies Limited is trading astatine a P/E of 61.2x. They delegate a “Subscribe" standing to this IPO, citing the company's superior businesslike concern exemplary with a operation of sustainable maturation and its tenable valuation compared to its peers. This endorsement from a trusted root tin instill assurance successful imaginable investors.

Encouraging imaginable investors to see the TBO Tek IPO, Ventura Securities emphasizes the company's pivotal relation arsenic a question organisation intermediary, connecting implicit 750 airlines and astir 1 cardinal hotels worldwide with buyers specified arsenic question agencies and autarkic question advisors. Its modular operation allows for tailored solutions, portion its asset-light exemplary ensures scalability. This platform's quality to present caller offerings fosters a web effect, enhancing its marketplace beingness and efficiency. Between fiscal years 2019 and 2023, Travel Boutique Online (TBO Tek) achieved awesome compounded yearly maturation rates (CAGRs) of 24.7% successful gross and 43.7% successful EBITDA, signaling imaginable for important returns connected investment.

TBO Tek shareholding

As per the Red Herring Prospectus of TBO Tek IPO, institution promoters ain 51.26 percent involvement successful this online question distributor institution whereas nationalist shareholders ain 46.43 percent involvement successful the company.

Augusta TBO is the largest nationalist shareholder successful this institution arsenic it owns a 19.53 percent involvement successful the company. General Atlantic owns 15,635,994 institution shares, which is 15 percent of the full paid-up superior of the company. TBO Korea owns 11,523,854 shares oregon 11.06 percent involvement successful the company. Promoters and nationalist shareholders ain 98.54 percent of the institution whereas the TBO ESOP Trust, which is simply a non-promoter and non-public shareholder entity, owns a 2.31 percent involvement successful the company.

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: 08 May 2024, 09:35 AM IST