TBO Tek Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹920
Per ShareLot Size
16 Shares
Minimum Investment
₹14,720
Issue Size
₹1,550.81 Cr
Face Value
₹1
Per ShareIPO Type
Book Building
Retail Quota
10%
QIB Quota
75%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
TBO Tek Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
51.26%
Issue Type
Book Building
ISIN
INE673O01025
About the Company
TBO Tek Limited operates an online B2B travel distribution platform that provides a wide range of offerings and connects Buyers and Suppliers. The Company simplifies the business of travel by centralizing transactions on a single user-friendly platform. By using its platform suppliers such as hotels, airlines, car rentals, transfers, cruises, insurance, rail and others can connect with buyers such as travel agencies, independent travel advisors, tour operators, travel management companies, online travel companies, superapplications and loyalty applications thereby streamlining the entire process. Instead of dealing with multiple platforms and systems, Buyers and Sellers can use its single platform to conduct transactions. Suppliers are able to display, market and decide price for the Buyers who in turn discover and book travel for destinations worldwide, across various travel segments such as leisure, corporate and religious travel through an integrated, multi-currency and multi-lingual one-stop solution through its platform.
Industry Overview
In 2023 the travel and tourism industry recovered, growing 18.2% year-on-year from 2022 to reach US$ 1.9 trillion, and expected to grow at a CAGR of 8.2% to reach US$ 2.6 trillion in 2027. New age travel distribution platforms, connect a large and heterogenous audience of retail and enterprise travel buyers to a diverse group of travel suppliers (hotels, airlines, transfers amongst others) enabling a comprehensive range of transactions between the retail and enterprise travel buyers on the platform. Travel distribution platforms provide a large audience of buyers to the supplier community while providing global inventory reach to travel buyers.
Company History
TBO Tek Limited was incorporated as `Tek Travels Private Limited' in New Delhi as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated November 6, 2006, issued by the Registrar of Companies, Delhi and Haryana at New Delhi ("RoC"). Thereafter, the name of the Company was changed to `TBO Tek Private Limited' and a fresh certificate of incorporation dated October 22, 2021 was issued by the RoC. Subsequently, the Company was converted into a public limited company and the name of the Company was changed to `TBO Tek Limited' and a fresh certificate of incorporation dated November 3, 2021 was issued by the RoC.
Products & Services
- TBO Tek Limited operates an online B2B travel distribution platform that provides a wide range of offerings and connects Buyers and Suppliers.
Growth Strategy
- Expand Buyer and Supplier base.
- Continue to amplify the value of its platform.
- Grow its operations through selective acquisitions.
- Use data as a corporate currency.
Customer Base
Wholesalers and Retailers
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offer of 16,856,623* equity shares of face value of Re. 1 each ("Equity Shares") of Tbo Tek Limited ("Company" or "Issuer") for cash at a price of Rs. 920 per equity share (including a share premium of Rs. 919 per equity share) ("Offer Price") aggregating to Rs. 1550.81 crores* comprising a fresh issue of 4,347,826* equity shares aggregating to Rs. 400.00 crores by the company ("Fresh Issue") and an offer for sale of 12,508,797* equity shares aggregating Rs. 1150.81 crores* ("Offered Shares") by the selling shareholders (as defined below), comprising 2,033,944* equity shares aggregating to Rs. 187.12 crores* by Gaurav Bhatnagar, 2,606,000* equity shares aggregating to Rs. 239.75 crores* by Lap Travel Private Limited ("Lap Travel") and 572,056* equity shares aggregating to Rs. 52.63 crores* by Manish Dhingra (Gaurav Bhatnagar, Lap Travel and Manish Dhingra, collectively referred to as "Promoter Selling Shareholders" ), 2,637,040* equity shares aggregating to Rs. 242.61 crores* by Tbo Korea Holdings Limited ("Tbo Korea"), and 4,659,757* equity shares aggregating to Rs. 428.69* crores by Augusta Tbo (Singapore) Pte. Ltd. ("Augusta Tbo", and together with Tbo Korea, the "Investor Selling Shareholders") (the promoter selling shareholders and investor selling shareholders together referred to as the "Selling Shareholders") ("Offer for Sale", and together with the fresh issue, the "Offer"). The offer includes a reservation of 32,608* equity shares (constituting 0.03%* of the post-offer paid-up equity share capital of the company) aggregating to Rs. 3.00 crores* for subscription by eligible employees (as defined hereinafter) (the "Employee Reservation Portion"). The offer less the employee reservation portion is hereinafter referred to as the "Net Offer". The offer and the net offer will constitute 15.52%* and 15.49%* of its post-offer paid-up equity share capital, respectively. The face value of equity shares is Re. 1 each and the offer price is 920 times the face value of the equity shares. *Subject to finalisation of basis of allotment.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Platform creating network effect with interlinked flywheels to enhance value proposition for partners.
- Modular and scalable proprietary technology platform allowing addition of new lines of business, markets, and travel products
- Ability to generate and leverage large data assets.
- Data driven decision making across the enterprise.
- Founders' led company supported by experienced professional management team with deep travel and technology expertise.
- Its revenue is substantially dependent on the hotels and ancillary bookings whose contribution has significantly increased from 35.69% of its revenue from operations for Fiscal 2021 to 67.83% for Fiscal 2023 and was 67.59% and 72.47%, respectively, for the nine months ended December 31, 2022 and December 31, 2023. In addition, all of its GTV is entirely dependent on its air and hotels and ancillary bookings in the last three Fiscals and in the nine months ended December 31, 2022 and December 31, 2023, respectively. Factors that may negatively impact its hotels and ancillary bookings could have an adverse effect on its business, prospects, results of operations and financial condition.
- Its business depends on the company's relationships with a limited range of Suppliers, and any adverse changes in such relationships, or its inability to enter into new relationships, could adversely affect its business and results of operations.
- The company's business is exposed to pricing pressure from its Suppliers who may withhold inventory or modify the terms of its arrangements, including for a reduction or elimination of commission, incentive or other compensation payable to it, which could adversely affect its business and results of operations.
- The company has certain contingent liabilities that have not been provided for in its financial statements, which if they materialize, may adversely affect its financial condition.
- The company depends on its proprietary technology for critical functions of the company's business. Failure to properly maintain or promptly upgrade its technology may result in disruptions to or lower quality of its services and the company's business, results of operations and financial condition may be adversely affected.