TBO Tek IPO subscribed 43.31 times so far

10 May 2024 , 02:37 PM

On the final day of the offering, investors participated in greater numbers in TBO Tek Ltd’s IPO, which is scheduled to close on Friday. The ₹1,559.81 Crore initial public offering (IPO) attracted  43.31 times subscription up to 14:29 am on Friday, the last day of bidding, with offers for 40,21,56,096 shares against the 92,85,816 shares that were on sale.

The public could now subscribe to the TBO Tek IPO on Wednesday.

The non-institutional investor (NII) category received a subscription 40.07 times larger than the retail category’s 19.87 times. The QIB portion was subscribed 56.61 times.

On May 13, the share allotment will be finalised, and on May 15, the NSE and BSE will list the company.

The TBO Tek IPO’s price range was set at ₹875 to ₹920 per share.

TBO Tek Limited is a travel distribution platform that was established in 2006 and provides a wide range of currencies along with forex assistance. It offers travel inventory according on the demands of its clients. Prior to then, it was called Tek Travels Private Ltd.

The TBO Tek IPO consists of an offer for sale of  1.25 Crore shares, valued at ₹1,150.81 Crore, and a new issue of 0.43 Crore shares, valued at ₹400 Crore.

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.

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