TBO Tek IPO: Travel Service Provider Files Documents to Raise Rs 2,100 Crore | Market news
New Delhi: Travel service provider TBO Tek Ltd has filed a preliminary prospectus with capital markets regulator Sebi to raise Rs 2,100 crore through an initial public offering (IPO).
The public offering includes a new issue of shares up to Rs 900 crore and an offer to sell valued at up to Rs 1,200 crore by existing promoters and investors, according to the draft herring prospectus red (DRHP).
In addition, the company may consider a pre-IPO placement totaling Rs 180 crore. If this placement is complete, the size of the new number will be reduced.
The company proposes to use the net proceeds of the new issue for growth and strengthening of its platform by adding new buyers and suppliers and strategic acquisitions and investments towards inorganic growth and for general corporate purposes. .
TBO Tek is a next generation travel distribution company that delivers the entire global travel inventory under one roof with little or no additional effort for buyers and suppliers. Also Read: iPhone SE 2022 To Have THESE Features: Everything You Need To Know
Axis Capital, Credit Suisse Securities (India), Jefferies India and JM Financial are principally responsible for the issue. The company’s shares will be listed on the BSE and the NSE. Also Read: Deleted WhatsApp Messages? Here’s how to read it again