TBO Tek files preliminary prospectus with SEBI to raise Rs 2,100 crore through IPO


Travel services provider TBO Tek has filed preliminary prospectus with capital markets regulator — the Securities and Exchange Board of India (SEBI) to raise Rs 2,100 crore through an initial public offering (IPO). According to the draft red herring prospectus (DRHP), the public issue comprises fresh issue of equity shares of up to Rs 900 crore and an offer for sale worth up to Rs 1,200 crore by promoters and existing investors. The equity shares of the company will be listed on the BSE and NSE.

Also, the company may consider a pre-IPO placement aggregating to Rs 180 crore. If such placement is completed, the fresh issue size will be reduced. The company proposes to utilise net proceeds from fresh issue towards growth and strengthening of its platform by adding new buyers and suppliers and strategic acquisitions and investments towards inorganic growth and for general corporate purpose. Axis Capital, Credit Suisse Securities (India), Jefferies India and JM Financial are the book running lead managers to the issue

TBO Tek is a new age travel distribution company that provides the entire global travel inventory under one roof with very limited or no additional effort for buyers and suppliers.



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