TBO Tek will open bidding for the initial public offerings IPO on 8 May 2024. Investors looking forward to investing in TBO Tek Limited can check the IPO GMP, IPO details, and other relevant information ahead of the bidding in the article below.
TBO Tek IPO GMP
TBO Tek, formerly known as Tek Travels Private Limited, has announced its IPO, and the company shares are traded on the grey market ahead of its IPO opening. The Grey market observes a premium price of ₹530 in the latest session from ₹0 on 1 May 2024, indicating that the buyers are preparing to buy more shares in the market.
According to the latest trend, the estimated listing price is trending at ₹1,450 with a 57.61% expected percentage loss/gain per share. The following table shows the Day-wise TBO Tek IPO GMP trends to date:
| GMP Date | IPO Price | GMP | Subject to Suada Rate | Estimated Listing Price |
| 7 May 2024 | 920 | ₹530 | 6400/89600 | ₹1,450 |
| 6 May 2024 | 920 | ₹530↑ | 6400/89600 | ₹1,450 |
| 5 May 2024 | 920 | ₹510↓ | 6200/86800 | ₹1,430 |
| 4 May 2024 | 920 | ₹520↑ | 6300/88200 | ₹1,440 |
| 3 May 2024 | 920 | ₹460↑ | 5600/78500 | ₹1,380 |
| 2 May 2024 | – | ₹405↑ | – | ₹405 |
TBO Tek IPO Timeline
The TBO Tek IPO will open for subscription from 8 May 2024 to 10 May 2024. The allotment of shares will commence on 13 May 2024 for the subscribers. The issuing company will initiate the refund to investors who have subscribed for the shares but did not allow the shares during the IPO allotment on 14 May 2024.
The company plans to list the shares after the issue on the BSE National Stock Exchange on 15 May 2024. Investors can mark these IPO dates of TBO Tek:
| Dates | TBO Tek IPO Event |
| 8 May 2024 | IPO Opening Date |
| 10 May 2024 | IPO Closing Date |
| 13 May 2024 | IPO Allotment |
| 14 May 2024 | Refunds Initiation |
| 15 May 2024 | IPO Listing Date |
| 10 May 2024 | UPI mandate confirmation |
TBO Tek IPO Details
TBO Tek Limited plans to raise ₹1,550.81 crores through the book-built IPO issue. According to the IPO RHP, the company’s fresh issue contains 0.43 crore shares valued at ₹400 crores. The issue offered for sale (OFS) of up to 12,508,797 equity shares that match up to ₹ 1,150.81 crores.
The price band or floor price of the IPO is fixed at ₹875 to ₹920 per equity share with a face value of ₹1 per share. The minimum lot size for the TBO Tek IPO is 16 shares.
The registrar of the TBO Tek issue is Kfin Technologies Limited and the book-running lead managers decided in the IPO pitch are Jefferies India Private Ltd., Jm Financial Ltd., Axis Capital Ltd., and Goldman Sachs (India) Securities Pvt. Ltd.
The company aims to utilize the IPO funds in its buyer and supplier base expansion, and inorganic growth strategies, accelerate the platform value by introducing new business and use data to offer data-driven travel solutions to the customer base.
| Company | TBO Tek Limited |
| IPO Type | Book-built Issue |
| IPO issue Size | 16,856,623 equity shares (matches up to ₹1550.81 Crore) |
| Face Value | ₹1 per equity share |
| Price Band | ₹875 to ₹920 per equity share |
| Lot Size | 16 |
| Fresh Issue | 4,347,826 equity shares (matches up to ₹400 Crore) |
| OFS | 12,508,797 shares (matches up to ₹1150.81crore) |
| Listing at | BSE NSE |
Reservation & Lot Size of TBO Tek IPO
The company has reserved the following percentage of the shares as the investor categories:
| Inverter Category | Shares Offered |
| Qualified Institutional Buyers (QIB) | Not exceeding 75% of the net issue |
| Retail | Not exceeding 10% of the offered share |
| Non-Institutional Investors (HNI) | Not exceeding 15% of the offered share |
The minimum lot size of the TBO Tek IPO contains 16 shares which can be multiplied according to the number of lots. The minimum investment a retail investor would need for one lot is ₹14,720. Here’s the full distribution of the minimum and maximum lot size and amount as per the investor category:
| Investor Category | Lot | Shares | Amount |
| Retail (min.) | 1 | 16 | ₹14,720 |
| Retail (max.) | 13 | 208 | ₹191,360 |
| S-HNI (min.) | 14 | 224 | ₹206,080 |
| S-HNI (max.) | 67 | 1072 | ₹986,240 |
| B-HNI (min.) | 68 | 1088 | ₹1,000,960 |
TBO Tek IPO financial performance shows a rise in revenue by 112.09% and PAT by 340.04% for the FY 2022-23. The market experts believe it will be a good investment, however, if you wish to bid for the IPO make sure you have done your own research on every aspect of the company to be sure of your investment.
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