TBO Tek IPO: Issue fully subscribed on Day 1, retail portion booked 3.14 times

The travel distribution platform mobilized Rs 696.51 crore via anchor book launched on May 7.

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26 Aug, 2025 12:21

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TBO Tek's Rs 1,551-crore initial public offer (IPO) received healthy subscription on May 8, the first day of bidding, with 1.15 times subscription. Investors bid for 1.06 crore shares as against 92.85 lakh equity shares on offer, exchange data showed.

Retail portion was fully booked after investors purchased 3.14 times their allotted quota. Non-institutional investors (high net worth individuals) also showed interest after picking up 2.08 times the portion set aside for them. QIBs or qualified institutional buyers were yet to show strong participation in the offer, as they bought 1 percent of the reserved portion.

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TBO Tek is a prominent player in the global travel and tourism sector, boasting substantial gross transaction value (GTV) and revenue from operations in FY23. The company recorded healthy growth in its financials, with profit growing 340 percent year-on-year to Rs 148.5 crore and revenue from operations rose 120.3 percent to Rs 1,064.6 crore.

The IPO's price band has been fixed at Rs 875 to Rs 920 per share.

Also read: TBO Tek IPO: Should you subscribe to the Rs 1,551 crore issue?

The travel distribution platform mobilised Rs 696.51 crore via anchor book launched on May 7. The company, in its filing to the exchanges, said it has finalised allocation of 75,70,807 equity shares to anchor investors at Rs 920 per equity share.

Read more: Aadhar Housing Finance IPO: Should you subscribe to Rs 3,000 crore issue?

Global investors including Abu Dhabi Investment Authority, Government Pension Fund Global, Neuberger Berman Investment Funds, Nomura Funds, Blackrock Global Funds, Fidelity Funds, Goldman Sachs, HSBC Global, and Eastspring Investments participated.

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