TBO Tek IPO: Subscription Details On Day 3

10 May 2024 , 12:49 PM

On the final day of bidding, TBO Tek IPO continues to attract the investors, with subscriptions reaching 8.61 times at the time of writing, according to BSE data.

Non-institutional investors’ quota is oversubscribed by 15.88 times, while retail investors’ category sees a subscription of 13.72 times. Qualified Institutional Buyers subscribe 3.27 times, and the employee portion is oversubscribed by 9.28 times.

On the second day of bidding, the IPO witnessed a subscription of 4.15 times, while on the first day, it was subscribed 1.15 times.

The IPO, which commenced on Wednesday, May 8, is set to conclude on Friday, May 10. The price band for the issue is fixed at ₹875 to ₹920 per equity share with a face value of ₹1. Each lot in the IPO consists of 16 equity shares, with subsequent multiples being in multiples of 16 equity shares.

The TBO Tek IPO, valued at ₹1,550.81 crore, comprises a fresh issue of ₹400 crore and an offer-for-sale (OFS) of up to 12,508,797 equity shares of face value of ₹1 each by promoters and other investors.

Proceeds from the offering will be utilized for expanding the base of suppliers and buyers, introducing new business lines to enhance platform value, pursuing inorganic growth through strategic acquisitions, forming alliances, and providing customized travel options using acquired data.

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