New Delhi: Shares of travel distribution firm TBO Tech were listed on Wednesday at a hefty premium of 55 per cent against the issue price of Rs 920.
The stock was listed at Rs 1,380 on the BSE, up 50 per cent from the issue price. Later it increased by 58.25 percent to Rs 1,455.95.
On NSE, it made its market debut at Rs 1,426, which is 55 per cent higher than the issue price.
The market valuation of the company stood at Rs 14,950.37 crore.
TBO Tech's initial public offering was subscribed 86.70 times on the last day of subscription on Friday.
The Rs 1,551-crore IPO comprised a fresh issue of up to Rs 400 crore and an offer for sale of 1,25,08,797 equity shares.
The price range for the offer was Rs 875-920 per share.
The proceeds from the fresh issue will be used to grow and strengthen the platform by adding new buyers and suppliers and undisclosed inorganic acquisitions. In addition, a portion will be used for general corporate purposes.
TBO Tech is a leading travel distribution platform in the global travel and tourism industry, serving buyers and suppliers in more than 10 countries as of June 30, 2023.
The company offers over 7,500 destinations and facilitates 33,000 bookings per day through its platform.
In October 2023, investment firm General Atlantic announced that it would acquire a minority stake in TBO.
The stock was listed at Rs 1,380 on the BSE, up 50 per cent from the issue price. Later it increased by 58.25 percent to Rs 1,455.95.
On NSE, it made its market debut at Rs 1,426, which is 55 per cent higher than the issue price.
The market valuation of the company stood at Rs 14,950.37 crore.
TBO Tech's initial public offering was subscribed 86.70 times on the last day of subscription on Friday.
The Rs 1,551-crore IPO comprised a fresh issue of up to Rs 400 crore and an offer for sale of 1,25,08,797 equity shares.
The price range for the offer was Rs 875-920 per share.
The proceeds from the fresh issue will be used to grow and strengthen the platform by adding new buyers and suppliers and undisclosed inorganic acquisitions. In addition, a portion will be used for general corporate purposes.
TBO Tech is a leading travel distribution platform in the global travel and tourism industry, serving buyers and suppliers in more than 10 countries as of June 30, 2023.
The company offers over 7,500 destinations and facilitates 33,000 bookings per day through its platform.
In October 2023, investment firm General Atlantic announced that it would acquire a minority stake in TBO.
