TBO Tek Mops Up Rs 696 Crore From Anchor Book Issue Ahead Of IPO
The major investors in TBO Tek anchor round include Abu Dhabi Investment Authority, Norges Bank, Nomura Funds Ireland and Neuberger Berman.
TBO Tek Ltd. has raised Rs 696 crore from anchor investors, ahead of its initial public offering. The company allotted 75.7 lakh shares at Rs 920 apiece to 47 anchor investors.
The major investors include Abu Dhabi Investment Authority, Norges Bank-backed Government Pension Fund Global, Nomura Funds Ireland, Neuberger Berman and SBI Technology Opportunities Fund, all of which secured an allocation of 5.4% each in the pre-IPO round fundraising.
Fourteen domestic mutual funds have applied through a total of 26 schemes, TBO Tek said in an exchange filing on Tuesday. They have collectively netted 42% of the anchor portion of Rs 290 crore. Nippon Life India, ICICI Prudential, WhiteOak Capital and Edelweiss Mutual Fund are among the key investors in this category.
The leading book managers for the anchor round were Axis Capital Ltd., Goldman Sachs (India) Securities Pvt., Jefferies India Pvt. and JM Financial Ltd.
About TBO Tek IPO
TBO Tek's thee-day initial public offering to raise up to Rs 1,550.81 crore will open for subscription on May 8. The 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 range of Rs 875–920 per equity share for the IPO. The minimum lot size for an application is 16 shares and the company will be listed on the National Stock Exchange and the BSE.
The company will use about Rs 127 crore from the proceeds to strengthen its platform, by adding new buyers and suppliers via investing in technologies and infrastructure to support their plans.
A sum of Rs 40 crore will be used for inorganic acquisitions and general corporate purposes.
