TBO Tek IPO sees strong demand: subscribed nearly three times on day 2: Check latest subscription and other key details

The initial public offer (IPO) of travel distribution platform TBO Tek Ltd saw a strong demand from the investors on the second day of bidding on May 9 with subscription of nearly three times.

The initial public offer was booked 2.96 times with biddings for over 2.74 crore shares against 92.8 lakh shares on offer, the NSE data until 3:15 pm on Thursday showed.

The retail portion was booked 7.94 times with bids for over 1.33 crore shares against 16.82 lakh shares on offer for the segment. The non-Institutional Investors’ (NIIs) category also attracted significant interest as the portion was booked 5.24 times. The NIIs’ segment received bids for 1.32 crore shares against 25.23 lakh shares on offer for the category.

The Qualified Institutional Buyer (QIB) category saw subdued interest, with bids of 6.8 lakh shares against 50.47 lakh shares on offer for the category, reflecting only 14% booking.

Ahead of the IPO launch, TBO Tek raised ₹696.51 crore from anchor investors with the allocation of 75,70,807 shares.

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TBO Tek IPO date and other details

The TBO Tek IPO is a book-built issue worth ₹1,550.81 crore. The total issue size includes an offer for sale (OFS) portion of 1.25 crore shares amounting to ₹1,150.81 crore, and a fresh issue of 43 lakh shares, valued at ₹400 crore.

The bidding period for the IPO ends on May 10. Allotment for the TBO Tek IPO is expected to be finalised on May 13. Refunds to unsuccessful bidders for the TBO Tek IPO are scheduled for May 14. The credit of shares to the Demat accounts of successful applicants is also to take place on the same day.

The listing of TBO Tek IPO is scheduled for Wednesday, May 15, on both the BSE and NSE.

The book running lead managers of the TBO Tek IPO are Axis Capital Limited, Jefferies India Private Limited, Goldman Sachs (India) Securities Private Limited, and JM Financial Limited. The issue's registrar is KFin Technologies Limited.

TBO Tek IPO price band and lot size

The price band for the TBO Tek IPO is set between ₹875 and ₹920 per share. For applicants, the minimum lot size includes 16 shares.

For retail investors participating in the TBO Tek IPO, the minimum application size stands at one lot, or 16 shares, requiring an investment of ₹14,720.

About TBO Tek

TBO Tek Limited, incorporated in 2006, was formerly known as Tek Travels Private Limited. The company offers a range of travel inventory tailored to meet the diverse needs of its clientele while providing support for various currencies and facilitating forex transactions.

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