TBO Tek, Awfis Space get SEBI nod to raise funds via IPO

Online travel distribution platform TBO Tek IPO comprises a fresh issuance of shares worth Rs 400 crore by the company, and an offer-for-sale (OFS) of 1.56 crore equity shares by promoters and investors.

TBO Tek Ltd and Awfis Space Solutions Ltd have received Securities Exchange Board of India's approval to raise funds via initial public offerings. TBO Tek filed draft papers with SEBI in November 2023 while Awfis Space Solutions submitted its DRHP in December 2023.

Online travel distribution platform TBO Tek IPO comprises a fresh issuance of shares worth Rs 400 crore by the company, and an offer-for-sale (OFS) of 1.56 crore equity shares by promoters and investors.

Promoters Gaurav Bhatnagar, Manish Dhingra, and LAP Travel, and investors TBO Korea, and Augusta TBO are the selling shareholders in the OFS.

Axis Capital, Goldman Sachs (India), JM Financial and Jefferies India are the book-running lead managers to the issue, while KFin Technologies is the registrar to the offer.

Awfis Space IPO consists of a fresh issue of Rs 160 crore and an offer-for-sale of up to 10.02 million shares by its 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 Securities and Emkay Global Financial Services are the book running managers to the issue.

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