Published By: Mohammad Haris
Last Updated: November 09, 2023, 13:59 IST
TBO Tek had filed draft papers with Sebi in December 2021 to drift Rs 2,100 crore preliminary share-sale.
The maiden public concern includes a recent concern of fairness shares aggregating as much as Rs 400 crore and a suggestion-for-sale of as much as 15,635,996 fairness shares by promoters and buyers
Travel distribution agency TBO Tek Ltd has filed recent preliminary papers with capital markets regulator Sebi to boost funds by means of an preliminary public providing (IPO). The maiden public concern includes a recent concern of fairness shares aggregating as much as Rs 400 crore and a suggestion-for-sale of as much as 15,635,996 fairness shares by promoters and buyers, in response to the draft crimson herring prospectus (DRHP) filed on Wednesday.
Those promoting shares within the OFS are promoters — Gaurav Bhatnagar, Manish Dhingra and LAP Travel — and buyers — TBO Korea and Augusta TBO. Proceeds from the recent concern will likely be used for development and strengthening of the platform by including new consumers and suppliers, unidentified inorganic acquisitions, moreover, a portion will likely be used for basic company functions.
Before this, the corporate had filed draft papers with Sebi in December 2021 to drift Rs 2,100 crore preliminary share-sale. However, the corporate didn’t launch the IPO. TBO Tek is a number one journey distribution platform within the world journey and tourism business offering providers to consumers and suppliers in over 100 nations as of June 30, 2023.
The firm presents over 7,500 locations and facilitates 33,000 bookings per day by means of their platform. In October, funding agency General Atlantic introduced that it could purchase a minority stake in TBO.
Axis Capital Ltd, Goldman Sachs (India) Securities Private Ltd, Jefferies India Private Ltd and JM Financial Ltd are the guide-operating lead managers of the difficulty. The fairness shares will likely be listed on the BSE and NSE.
(This story has not been edited by News18 workers and is printed from a syndicated information company feed – PTI)
