TBO Tek shares surge nearly 53% on market debut

16 May 2024 , 07:54 AM

TBO Tek, a travel distribution firm, witnessed a remarkable debut on May 15, with its shares closing at a significant premium of almost 53% above the issue price of ₹920.

On the BSE, the stock commenced trading at ₹1,380, marking a 50% surge from its issue price. Throughout the trading session, it soared as high as 58.25% to reach ₹1,455.95 per share. Ultimately, the day concluded with the stock settling at ₹1,404.85, reflecting a gain of 52.70%.

Over at the NSE, TBO Tek’s market entry was equally impressive, with an opening price of ₹1,426, representing a robust 55% increase from the issue price. By the end of trading, the stock closed at ₹1,404, registering a rise of 52.60%.

The company’s market capitalization now stands at ₹15,254.96 crore. In terms of trading activity, a total of 6.87 lakh shares were traded on the BSE, while the NSE witnessed a trading volume of 119.96 lakh shares during the day.

TBO Tek’s initial public offering (IPO) garnered significant attention from investors, with subscription levels reaching an impressive 86.70 times on the closing day of subscription.

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