Tbo Tek Ltd IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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TBO Tek

CMP

1,606.60

+43.15 (2.76%)

  • DRHP
₹920

Offer Price

₹ 1,550.81 Cr

Issue Size

₹ 14,720

Min Investment

86.70x

Times Subscribed

16

Lot size

Time Line

  • 08
    May 2024
    Open
  • 10
    May 2024
    Close
  • 13
    May 2024
    Finalisation of Basis of Allotment
  • 14
    May 2024
    Initiation of Refunds
  • 14
    May 2024
    Transfer of Shares to Demat Account
  • 15
    May 2024
    Listing Date

Shares Offered

Number of Times Subscribed

Objects of the Offer

  • Expand Buyer and Supplier base.

  • Continue to amplify the value of its platform.

  • Grow its operations through selective acquisitions.

  • Use data as a corporate currency.

Products & Services

  • TBO Tek Limited operates an online B2B travel distribution platform that provides a wide range of offerings and connects Buyers and Suppliers.

Strengths

  • Platform creating network effect with interlinked flywheels to enhance value proposition for partners.

  • Modular and scalable proprietary technology platform allowing addition of new lines of business, markets, and travel products

  • Ability to generate and leverage large data assets.

  • Data driven decision making across the enterprise.

  • Founders` led company supported by experienced professional management team with deep travel and technology expertise.

Risks

  • Its revenue is substantially dependent on the hotels and ancillary bookings whose contribution has significantly increased from 35.69% of its revenue from operations for Fiscal 2021 to 67.83% for Fiscal 2023 and was 67.59% and 72.47%, respectively, for the nine months ended December 31, 2022 and December 31, 2023. In addition, all of its GTV is entirely dependent on its air and hotels and ancillary bookings in the last three Fiscals and in the nine months ended December 31, 2022 and December 31, 2023, respectively. Factors that may negatively impact its hotels and ancillary bookings could have an adverse effect on its business, prospects, results of operations and financial condition.

  • Its business depends on the company`s relationships with a limited range of Suppliers, and any adverse changes in such relationships, or its inability to enter into new relationships, could adversely affect its business and results of operations.

  • The company`s business is exposed to pricing pressure from its Suppliers who may withhold inventory or modify the terms of its arrangements, including for a reduction or elimination of commission, incentive or other compensation payable to it, which could adversely affect its business and results of operations.

  • The company has certain contingent liabilities that have not been provided for in its financial statements, which if they materialize, may adversely affect its financial condition.

  • The company depends on its proprietary technology for critical functions of the company`s business. Failure to properly maintain or promptly upgrade its technology may result in disruptions to or lower quality of its services and the company`s business, results of operations and financial condition may be adversely affected.

Company Promoters

Promoters Holding

Issue For IPO
51.26%
Pre Holding

51.26%

Post Holding

-

Top Promoters Holding

Financials

All values in Cr

Mar-2022 Mar-2023 Mar-2023 3-Yr trend
Revenue 483.27 (240.80%) 1,064.59 (120.30%) 44.04 (-)
Gross Profit 483.27 (240.80%) 1,064.59 (120.30%) 44.04 (-)
Net Income 483.27 (240.80%) 1,064.59 (120.30%) 44.04 (-)
Assets 483.27 (240.80%) 1,064.59 (120.30%) 44.04 (-)
Liabilities 483.27 (240.80%) 1,064.59 (120.30%) 44.04 (-)

Peers

Company Name Revenue (Cr) Net Profit (Cr) Assets (Cr) Liabilities (Cr) ROE EPS BVPS Current Ratio Debt to Assets
TBO Tek Ltd 1,064.59 144.25 419.07 78.79 44.04 13.84 32.64 1.13 0.17
Rategain Travel Technologies Ltd 565.13 68.40 945.28 945.28 9.63 6.33 65.52 7.23 0.00

Book Running Managers

  • Axis Capital Ltd
  • Goldman Sachs (India) Securities Pvt Ltd
  • Jefferies India Pvt Ltd
  • JM Financial Ltd

Registrar & Transfer Agent

KFin Techologies Ltd

Karvy Selenium Tow-B,
31&32 Financial Dist,
Nanakramguda - Hyderabad-500032
Phone : 91-40-67162222 Fax: 91-40-23001153/23420814

Company Contact Information

E-78 South Extension Part I,
,
New Delhi - 110049
Phone : 91-124-499 8999 Email : corporatesecretarial@tbo.com www.tbo.com

Offer Related Information

Initial public offer of 16,856,623* equity shares of face value of Re. 1 each ("Equity Shares") of Tbo Tek Limited ("Company" or "Issuer") for cash at a price of Rs. 920 per equity share (including a share premium of Rs. 919 per equity share) ("Offer Price") aggregating to Rs. 1550.81 crores* comprising a fresh issue of 4,347,826* equity shares aggregating to Rs. 400.00 crores by the company ("Fresh Issue") and an offer for sale of 12,508,797* equity shares aggregating Rs. 1150.81 crores*... More

News

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