TBO Tek sees robust listing. What should investors do now?

TBO Tek has a robust technological foundation. The company's modular and scalable platform positions it for efficient operations and data utilisation in a dynamic digital travel landscape. Its business model fosters efficient growth, further adding to its attractiveness for investors.

"TBO Tek's strong listing signifies a promising future. Investors may hold their position by keeping a stop loss at 1,290," said Shivani Nayti, head of wealth, .

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.

Also Read:

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 with hotel bookings, 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 over 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.