TBO Tek IPO to open on May 8; here's what GMP signals ahead of subscription

Ahead of opening of the issue, the shares of TBO Tek are commanding a premium of ₹520 successful the grey market, according to marketplace observers. This means that the estimated listing terms of TBO Tek shares could beryllium ₹1440, which is  56.52 per cent much than the IPO terms of ₹920.

Also read: TBO Tek IPO: Price set acceptable astatine ₹875-920 per share; cheque contented details here

As per investorgain.com, the lowest GMP of TBO Tek IPO is ₹0, portion the highest GMP is ₹520.

The TBO Tek IPO's terms scope is acceptable betwixt ₹875 and ₹920 per equity share, with the institution aiming to make ₹1,550.81 crore done IPO.

TBO Tek IPO details

The IPO comprises a caller issuance of 0.43 crore shares valued astatine ₹400.00 crores and an offer-for-sale conception of 1.25 crore shares valued astatine ₹1,150.81 crores.

The contented is being conducted via the book-building process, with a maximum of 75% of the nett issuance earmarked for allocation to Qualified Institutional buyers successful a proportional manner, 15% for non-institutional investors, and astatine slightest 10% of the nett issuance allocated to retail investors connected a proportional basis.

The minimum batch size required for an exertion is 16 shares, necessitating a minimum concern of ₹14,720 for retail investors to partake successful the IPO. For Non-Institutional Investors (NIIs), the minimum batch size concern comprises 14 tons (equivalent to 224 shares), totaling ₹206,080, portion for Big Non-Institutional Investors (NIIs), it consists of 68 tons (1,088 shares), totaling ₹1,000,960.

The institution intends to utilize the nett proceeds generated from the contented to bolster respective objectives. These encompass broadening the supplier and purchaser base, elevating the platform's worthy by introducing caller lines of businesses, pursuing inorganic maturation via targeted acquisitions, and nurturing synergies with the existent platform.

Also read: Upcoming IPOs: 9 caller nationalist issues and 4 caller listings scheduled for this week; cheque afloat database here

Axis Capital Limited, Jefferies India Private Limited, Goldman Sachs (India) Securities Private Limited, and JM Financial Limited are the book-running pb managers for the TBO Tek IPO, portion KFin Technologies Limited has been appointed arsenic the registrar for the issue.

TBO Tek stands retired arsenic a premier question organisation level wrong the planetary question and tourism assemblage for the fiscal twelvemonth 2023. It holds a salient presumption successful presumption of Gross Transaction Value (GTV) and operational revenue. Operating crossed much than 100 countries, TBO Tek offers a divers array of services, catering to the varied needs of its customers. Its extended question inventory ensures that buyers tin entree broad options tailored to their clients' requirements. Additionally, the level facilitates transactions successful galore currencies, providing overseas speech assistance to further streamline the booking process.

Unlock a satellite of Benefits! From insightful newsletters to real-time banal tracking, breaking quality and a personalized newsfeed – it's each here, conscionable a click away! Login Now!

Published: 05 May 2024, 01:23 PM IST