TBO Tek IPO opens for subscription; check details here

8 May 2024 , 11:33 AM

The General Atlantic-backed initial public offering (IPO) of TBO Tek Limited has debuted in the Indian primary market today. The public issue, valued at ₹1,550.81 crore, will be open for subscription until May 10, 2024, spanning from Wednesday to Friday this week. Click here to subscribe to the IPO.

As of day 1, the issue has garnered bids for 19,02,208 shares out of the total 92,85,816 shares available for subscription. By 11:20 AM, the retail portion of the IPO has been subscribed 0.63 times, while the non-institutional portion has received 0.33 times subscription. Additionally, a portion of the IPO reserved for employees has been subscribed 0.55 times thus far.

The price band for the TBO Tek IPO has been set at ₹875 to ₹920 per equity share. This book build issue comprises a combination of fresh shares and an Offer For Sale (OFS).

TBO Tek aims to raise ₹400 crore through the issuance of fresh shares, with the remaining ₹1,150.81 crore allocated for the OFS route. The mainboard IPO is slated for listing on both the BSE and NSE stock exchanges.