TBO Tek & Awfis get SEBI approval for their IPOs

23 Apr 2024 , 12:10 PM

TBO Tek Ltd and Awfis Space Solutions Ltd have secured approval from the Securities Exchange Board of India (SEBI) to raise funds through initial public offerings (IPOs). TBO Tek filed draft papers with SEBI in November 2023, while Awfis Space Solutions submitted its DRHP in December 2023.

TBO Tek’s IPO, an online travel distribution platform, comprises a fresh issuance of shares worth ₹400 Crore by the company, along with an offer-for-sale (OFS) of 1.56 Crore equity shares by promoters and investors. Promoters Gaurav Bhatnagar, Manish Dhingra, and LAP Travel, alongside investors TBO Korea and Augusta TBO, are the selling shareholders in the OFS. Axis Capital, Goldman Sachs (India), JM Financial, and Jefferies India serve as the book-running lead managers to the issue, with KFin Technologies acting as the registrar to the offer.

On the other hand, Awfis Space Solutions’ IPO includes a fresh issue of ₹160 Crore and an offer-for-sale of up to 10.02 million shares by existing shareholders and promoters. The OFS comprises up to 5.01 million shares by Peak XV Partners Investments V, up to 4.94 million shares by Bisque Ltd, and up to 75,174 million shares by Link Investment Trust. ICICI Securities, Axis Capital, IIFL Capital Services, and Emkay Global Financial Services are the book running managers to the issue.