TBO Tek shares debut at 55% premium over issue price

The issue was booked over 80 times at close on strong interest from . Ahead of the IPO opening, the company raised nearly Rs 697 crore from anchor investors.

TBO Tek's appeal stems from its robust . The company leverages a modular and scalable proprietary platform, enabling them to generate and utilize valuable data assets. This, coupled with a , positions TBO Tek for continued growth in the .

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"Despite the potential risks and the slight moderation in GMP, TBO Tek's strong fundamentals, innovative technology platform, and position it well," said Shivani Nyati, Head of Wealth, .

The funds raised through the fresh issue would be used for the growth and strengthening of the company platform by adding new buyers and suppliers and towards unidentified inorganic acquisitions along with general corporate purposes.

TBO simplifies the business of travel for suppliers such as hotels, airlines and retail buyers such as travel agencies and enterprise buyers that include tour operators, travel management companies through the two-sided technology platform that enables suppliers and buyers to transact seamlessly with each other.

The platform connects over 147,000 buyers across more than 100 countries with over one million suppliers, as of June 2023. Recently, leading had acquired a minority stake in TBO.

In 2023 the travel and tourism industry is estimated to recover at pace, growing 18% year-on-year from 2022 to reach $1.9 trillion, and is expected to grow at a CAGR of 8.2% to reach $2.6 trillion in 2027.

, Goldman Sachs (India) Securities, JM Financial and Jefferies India acted as the book-running lead managers to the issue.

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