TBO Tek posts stellar debut on BSE and NSE with 55% listing gains.
TBO Tek Listing Today: Shares are listed at Rs 1,426 apiece on bourses, translating to a remarkable 55 per cent premium over its issue price of Rs 920
TBO Tek Listing Today: The shares of TBO Tek, the global travel and tourism industry player, on Wednesday made a stellar debut on stock exchanges BSE and NSE, exceeding pre-listing expectations by a significant margin. The company is listed at Rs 1,426 per share, translating to a remarkable 55 per cent premium over its issue price of Rs 920.
Shivani Nyati, head of wealth at Swastika Investmart, said, “This strong performance underscores the immense investor confidence in TBO Tek’s robust technological foundation and its potential for continued growth in the online travel sector.”
TBO Tek has a robust technological foundation. The company’s modular and scalable platform positions it for efficient operations and data utilization in a dynamic digital travel landscape. The company’s business model fosters efficient growth, further adding to its attractiveness for investors, she added.
“TBO Tek’s strong listing signifies a promising future. Investors may hold their position by keeping a stop loss at 1,290,” Nyati said.
The Rs 1,559.81-crore TBO Tek IPO, which was open for public subscription between May 8 and May 10, received over 86 times subscription, garnering bids for 80,27,88,432 shares as against 92,85,816 shares on offer.
TBO Tek Limited, founded in 2006, is a travel distribution platform that offers travel inventory according to the needs of its customers and supports a wide range of currencies along with forex help. It was earlier known as Tek Travels Private Ltd.
Axis Capital Limited, Jefferies India Private Limited, Goldman Sachs (India) Securities Private Limited and Jm Financial Limited were the book running lead managers of the TBO Tek IPO, while Kfin Technologies Limited was the registrar for the issue.
