New Delhi: The initial public offering of travel distribution firm TBO Tech Go was subscribed 1.15 times on the first day of bidding on Wednesday.
According to data available with NSE, bids were received for 1,06,50,112 shares against 92,85,81 in the Rs 1,551 crore IPO.
The retail individual investors (RII) category was subscribed 3.13 times, while the non-institutional investors portion was subscribed 2.08 times. Qualified Institutional Buyers (QIB) quota received 1 per cent subscription.
The initial public offering (IPO) proposes fresh issue of up to Rs 400 crore and sale of 1,25,08,797 equity shares.
Those selling shares in the OFS include promoters Gaurav Bhatnagar, Manish Dhinger and LAP Travel and investors TBO Korea and Augusta TBO.
The price range for the offer is Rs 875-920 per share.
TBO Tech on Tuesday said it has raised a little over Rs 696 crore from NCO investors.
The proceeds from the fresh issue will be used for the growth and strengthening of 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 tourism industry serving buyers and suppliers in over 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.
Axis Capital, Goldman Sachs (India) Securities, JM Financial and Jefferies are the managers of the Indi offer.
The equity shares will be listed on BSE and NSE.
According to data available with NSE, bids were received for 1,06,50,112 shares against 92,85,81 in the Rs 1,551 crore IPO.
The retail individual investors (RII) category was subscribed 3.13 times, while the non-institutional investors portion was subscribed 2.08 times. Qualified Institutional Buyers (QIB) quota received 1 per cent subscription.
The initial public offering (IPO) proposes fresh issue of up to Rs 400 crore and sale of 1,25,08,797 equity shares.
Those selling shares in the OFS include promoters Gaurav Bhatnagar, Manish Dhinger and LAP Travel and investors TBO Korea and Augusta TBO.
The price range for the offer is Rs 875-920 per share.
TBO Tech on Tuesday said it has raised a little over Rs 696 crore from NCO investors.
The proceeds from the fresh issue will be used for the growth and strengthening of 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 tourism industry serving buyers and suppliers in over 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.
Axis Capital, Goldman Sachs (India) Securities, JM Financial and Jefferies are the managers of the Indi offer.
The equity shares will be listed on BSE and NSE.
