The initial public offering of TBO Tek Ltd. closed on Friday with the issue being subscribed 86.7 times, led by solid demand from qualified institutional buyers. The issue was subscribed 4.15 times on its second day, and 1.15 times on day 1.
The Rs 1,550.8 crore-IPO consists of a fresh issue of equity shares aggregating Rs 400 crore and an offer for sale of up to 1.25 crore equity shares by certain shareholders.
The travel distribution platform announced a price band of Rs 875–920 per equity share for the issue.
The company had raised Rs 696 crore from anchor investors ahead of its IPO. It allotted 75.7 lakh shares at Rs 920 apiece to 47 anchor investors.
Issue Details
Issue opens: May 8.
Issue closes: May 11.
Issue price: Rs 875–920 per share.
Fresh issue: Rs 400 crore.
Offer for sale: Rs 1,150 crore.
Total issue size: Rs 1,550.8 crore.
Market value at the upper end of the price band: Rs 10,211 crore.
Listing: BSE and NSE.
The TBO Tek IPO allotment is likely to be finalised on Monday, May 13.
Use of Proceeds
The company will use approximately Rs 127 crore from the proceeds to strengthen its platform by adding new buyers and suppliers through investment in technologies and infrastructure to support their plans. It will use Rs 40 crore for inorganic acquisitions and general corporate purposes.
Subscription Status: Day 3
The IPO has been subscribed 86.7 times as of 5 p.m. on Friday.
Institutional investors: 125.51 times.
Non-institutional investors: 50.60 times.
Retail investors: 25.74 times.
Employee reserved: 17.82 times.
Watch The IPO Adda Here
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