TBO Tek Shines on Debut, Stocks Leap 55% Above IPO Price on NSE!

TBO Tek Ltd debuted strongly on Dalal Street, opening at ₹1,426, a 55% premium over the issue price of ₹920 on NSE, showing a vigorous start in the stock market.
TBO Tek Shines on Debut, Stocks Leap 55% Above IPO Price on NSE!

TBO Tek Ltd shares soared on their market debut, launching on Dalal Street at ₹1,426 on Wednesday. This represents a 55% increase over the issue price of ₹920 on the NSE, marking a robust entry into the stock market.

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During its three-day bidding process, TBO Tek’s IPO was fervently subscribed, achieving an overall subscription of 86.70 times. The QIBs portion hit 125.51 times, non-institutional investors at 50.60 times, retail investors 25.74 times, and employee bids 17.82 times.

Founded in the mid-2000s, TBO Tek emerged during India’s aviation surge, streamlining airline bookings for travel agents globally. Serving clients across 100+ countries, it offers a dual-sided platform that facilitates seamless transactions between Suppliers and Buyers in multiple currencies and languages, providing a comprehensive travel inventory for global tourism needs.

Tek Travels Ltd’s IPO aims to invest INR 260 crores in technology, marketing, and infrastructure to expand its platform and INR 40 crores for potential acquisitions. The remaining funds will support general corporate purposes, including capital expenditures and working capital needs.

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