TBO Tek
Book Building issueMainboard₹1,551 Cr issue
+50.00%
Listing gain over issue price
Issue size
₹1,551 Cr
1 lot at cut-off
₹14,720
Lot size
16shares
Open
08 May 2024
Close
10 May 2024
Allotment
13 May 2024
Listing
15 May 2024
Listing performance
Issue price
₹920
Listed at
₹1,380
Listing-day close
₹1,406.30
Latest price
₹1,523.80
Close on 23 Oct 2026
Listing gain
+50.00%
Return since issue
+65.63%
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 08 May 2024 – 10 May 2024
- Listing date
- 15 May 2024
- Face value
- ₹1 per share
- Issue price
- ₹920 per share
- Lot size
- 16 shares
- Issue type
- Book Building issue
- Total issue size
- ₹1,551 Cr
- Market cap at offer price
- ₹9,990 Cr
- Promoter holding
- 51.26% → 44.41% pre-issue → post-issue
- ISIN
- INE673O01025
- Registrar
- Kfin Technologies Ltd.
- Lead managers
- Axis Capital Ltd.
- Registered office
- E-78, South Extension, Part I, New Delhi
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 75,70,807 | — | — |
| Market maker | 0 | — | — |
Application size
Minimum 16 shares per lot, in multiples, at ₹920
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 16 | ₹14,720 |
| Retail (max) | 13 | 208 | ₹1,91,360 |
| S-HNI (min) | 14 | 224 | ₹2,06,080 |
| S-HNI (max) | 67 | 1,072 | ₹9,86,240 |
| B-HNI (min) | 68 | 1,088 | ₹10,00,960 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Shares allocated
75,70,807
Anchor portion
₹697 Cr
at ₹920 per share
Valuation and performance
Valuation at offer price
₹920 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 14.25 | 18.93 |
| P/E (×) | 64.56 | 48.60 |
| Price to book (×) | 18.66 | — |
| Market cap | — | ₹9,990 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 30.76%
- NAV per share
- ₹49.31
- Price to book
- 18.66
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About TBO Tek
TBO Tek Limited, incorporated in 2006 as Tek Travels Private Limited and converted to public limited company in 2021, operates an online B2B travel distribution platform that simplifies business travel transactions by centralizing them on a single user-friendly platform. The company connects buyers such as travel agencies, independent travel advisors, tour operators, travel management companies, online travel companies, super-applications and loyalty applications with suppliers including hotels, airlines, car rentals, transfers, cruises, insurance, rail and others. The platform offers multi-currency and multi-lingual capabilities for leisure, corporate and religious travel bookings worldwide. The company earns revenue through two key models: the B2B Rate Model where it receives inventory from suppliers, applies a markup and passes it to buyers; and the Commission Model where suppliers fix prices and TBO retains part of commission received from suppliers and shares part with buyers. The company has grown substantially with revenue from operations increasing from ₹1,418.06 million in Fiscal 2021 to ₹10,645.87 million in Fiscal 2023.
Company Analysis
from RHPTBO Tek Limited operates an online B2B travel distribution platform connecting travel buyers (agencies, tour operators, TMCs, super-apps) with travel suppliers (hotels, airlines, transfers, insurance) across leisure, corporate and religious travel segments.
TBO Tek Limited, incorporated in 2006 as Tek Travels Private Limited and converted to public limited company in 2021, operates an online B2B travel distribution platform that simplifies business travel transactions by centralizing them on a single user-friendly platform. The company connects buyers such as travel agencies, independent travel advisors, tour operators, travel management companies, online travel companies, super-applications and loyalty applications with suppliers including hotels, airlines, car rentals, transfers, cruises, insurance, rail and others. The platform offers multi-currency and multi-lingual capabilities for leisure, corporate and religious travel bookings worldwide. The company earns revenue through two key models: the B2B Rate Model where it receives inventory from suppliers, applies a markup and passes it to buyers; and the Commission Model where suppliers fix prices and TBO retains part of commission received from suppliers and shares part with buyers. The company has grown substantially with revenue from operations increasing from ₹1,418.06 million in Fiscal 2021 to ₹10,645.87 million in Fiscal 2023.
travel and tourism distributiononline travel platformsB2B travel technologytravel commerce
Objects of the Issue
- Investment in technology and data solutions by our Company ₹1,350.00 million p.25
- Investment in our Material Subsidiary, Tek Travels DMCC, for onboarding platform users through marketing and promotional activities; and hiring sales and contracting personnel for augmenting our Supplier and Buyer base outside India ₹1,000.00 million p.25
- Investment in sales, marketing and infrastructure to support organization's growth plans in India ₹250.00 million p.25
- Unidentified inorganic acquisitions ₹400.00 million p.25
- General corporate purposes p.25
- Funding capex for technology infrastructure, data centers and IT systems p.113
- Buyer and Supplier onboarding and working capital p.56
- Strategic acquisitions and investments towards inorganic growth p.56
- General corporate purposes and working capital p.25
- Investment in technology and data solutions by our Company ₹1,350.00 million p.118
- Investment in our Material Subsidiary, Tek Travels DMCC, for onboarding platform users through marketing and promotional activities; and hiring sales and contracting personnel for augmenting our Supplier and Buyer base outside India ₹1,000.00 million p.118
- Investment in sales, marketing and infrastructure to support organization's growth plans in India ₹250.00 million p.118
- Unidentified inorganic acquisitions ₹400.00 million p.118
- General corporate purposes p.118
- Funding acquisition and integration of travel companies (BookaBed, Jumbo Tours, and other inorganic opportunities) to expand geographic presence, supplier network, and buyer base in fragmented markets p.190
- Funding technology development including new platform capabilities, AI/ML enhancements, data analytics infrastructure, and new product lines p.199
- Funding expansion of sales and marketing team globally to onboard new buyers and suppliers in existing and new markets p.189
- General corporate purposes and working capital p.190
- Funding capex and working capital ₹4,000 million p.430
Issue Structure
- Total Issue
- Up to [●] Equity Shares aggregating up to ₹ [●] million
- Fresh Issue
- Up to [●] Equity Shares aggregating up to ₹ 4,000.00 million
- Offer for Sale
- Up to 12,508,797 Equity Shares aggregating up to ₹ [●] million
- Price Band
- Price Band of a minimum price of ₹ [●] per Equity Share (Floor Price) and the maximum price of ₹ [●] per Equity Share (Cap Price)
- Lot Size
- [●] Equity Shares and in multiples of [●] Equity Shares thereafter
- Face Value
- ₹ 1 each
Business Model
The company operates a B2B travel distribution platform with two primary revenue models: (1) B2B Rate Model - where the company receives inventory from suppliers, applies a markup and passes it to buyers; (2) Commission Model - where suppliers fix prices and the company receives commission, retaining part and sharing part with buyers. Revenue is generated from fees on airline tickets and hotel and ancillary bookings. For Fiscal 2023, hotels and ancillary bookings represented 67.83% of revenue from operations while air ticketing represented 30.11%, with take rates of 7.25% and 2.59% respectively.
Business Segments
Revenue generated from airline ticket bookings through the platform
Revenue generated from hotel bookings and ancillary travel services through the platform
Airline ticketing and booking services as part of the travel distribution platform
Hotel booking and ancillary travel services including accommodation and related offerings
Revenue from sale of airline tickets on the platform
Revenue from hotel bookings and ancillary services such as transfers and car rentals on the platform
Other miscellaneous products like TBO Academy and white label services
Revenue from bookings created by buyers in India source market
Revenue from bookings created by buyers in international source markets
Platform connecting buyers with 750+ airlines globally for flight bookings, integrated with GDS (Amadeus, Sabre, Travelport), LCC host systems (Navitaire, Pyton), NDCs, and airline APIs for real-time access to inventory across 300,000+ origin-destination combinations
Platform providing access to over one million hotels, apartments, vacation homes globally plus car rentals, transfers, sightseeing, cruises, and rail. Hotels integrated via direct API, channel managers (RateGain, SiteMinder), or extranet. Ancillary services available through direct connectivity and third-party partners.
ZamZam (Umrah travel in Saudi Arabia), Kizan (inbound leisure tourism to Saudi Arabia), Paxes (corporate travel automation), Travel Partner Solution (white-label platform for loyalty programs and super apps), TBO Academy (e-learning for travel agents), Roamer (post-booking trip management app), Insurance (travel medical, cancellation cover), Cargo and Marine
Online portal for selling and distribution of travel products including airline tickets, hotel bookings, and car rentals to travel agents and travel management companies
Services as IATA agents, passenger sales agents, tour operators, and representatives of airlines and shipping companies globally
Commission income from the sale of airline tickets recognized on a net basis when customers book airline tickets; includes variable consideration based on volume of business with airlines and incentives from GDS providers
Income from hotel booking services recognized when customers book hotels; includes incentives based on volume of business with hotels and refund liabilities for expected cancellations
Revenue from providing technical services and annual maintenance service fees on software provided to customers, recognized as services are rendered or ratably over the service period
Commission income from the sale of airline tickets, recognized when customers book airline tickets; contracts with airlines include incentives based on volume of business
Income from hotel booking services recognized when customers book hotels; contracts include incentives based on volume of business
Income from technical services recognized as and when services are rendered, net of goods and services tax; includes annual maintenance service fees on software provided to customers
Sale of air tickets through the platform
Hotel bookings and vacation package sales including car rental and sightseeing services
Technical services provided to travel agents
Other ancillary travel-related services
SWOT Analysis
Strengths
- • Leading B2B travel distribution platform connecting diverse buyers and suppliers(p.24)
- • Strong revenue growth from hotel and ancillary bookings(p.34)
- • Diversified geographic reach across multiple international markets(p.24)
- • Significant growth in GTV (Gross Transaction Value)(p.17)
- • Consistent platform growth with increasing users and transactions(p.44)
- • Significant expansion of transacting hotels and airlines network(p.45)
- • Strong buyer retention with demonstrated GTV growth per retained user(p.46)
- • Diversified geographic revenue base reducing single-market dependency(p.47)
- • Strong material subsidiary performance driving international revenue(p.49)
- • Capital-efficient business model with acquisition-driven growth strategy(p.61)
- • Platform network effects and flywheel dynamics driving value creation(p.130)
- • Modular, scalable technology platform enabling geographic expansion and new product lines(p.130)
- • Large data assets enabling data-driven insights and personalization(p.130)
- • Capital efficient business model with strong cash generation and operating leverage(p.130)
- • Experienced founders-led management team with deep travel and technology expertise(p.130)
- • Strong Buyer growth and engagement trajectory(p.130)
- • Leading global travel distribution platform with network effects creating virtuous cycles(p.167)
- • Modular and scalable proprietary technology platform enabling rapid expansion(p.184)
- • Strong buyer retention and wallet expansion demonstrating platform stickiness(p.183)
- • Founders-led company with experienced leadership team possessing deep travel and technology expertise(p.188)
- • Capital-efficient business model with strong operating leverage and cash generation(p.188)
- • Proven track record of strategic acquisitions integrating complementary assets(p.188)
- • Large data assets providing competitive advantage for platform improvements and personalization(p.187)
- • Extensive global presence serving buyers and suppliers across 100+ countries(p.167)
- • Comprehensive regulatory compliance framework across multiple jurisdictions(p.203)
- • Established data protection and security standards alignment(p.204)
- • Established grievance redressal mechanisms for intermediaries(p.204)
- • Significant revenue growth trajectory(p.258)
- • Substantial profitability improvement(p.258)
- • Strong cash generation and liquidity position(p.257)
- • Diversified intangible asset base from acquisitions(p.257)
- • Expansion through strategic acquisitions(p.261)
- • Strong revenue growth trajectory across air ticketing and hotel/packages segments(p.303)
- • Diversified revenue streams across multiple service lines with hotel packages as largest contributor(p.303)
- • Global geographic diversification with substantial international revenue base(p.324)
- • Expanding international subsidiary network enabling global market reach(p.326)
- • Profitability with strong profit before tax growth(p.303)
- • Strong market position in B2B travel aggregation with global supplier network(p.353)
- • Significant user base growth and reduced buyer concentration risk(p.356)
- • Rapid GTV expansion demonstrates platform scaling capability(p.357)
- • Improved profitability with strong EBITDA margins(p.379)
- • Growing high-margin hotel and ancillaries business offsetting airline commission compression(p.357)
- • Track record of successful strategic acquisitions expanding market reach(p.360)
- • Rapid revenue growth from travel platform recovery post-COVID(p.385)
- • Strong profitability recovery with significant EBITDA margin expansion(p.383)
- • Diversified revenue streams across hotel and air ticketing segments(p.385)
- • International expansion with material subsidiary operations(p.394)
- • Strong cash generation from operations(p.389)
Weaknesses
- • Heavy dependence on limited number of suppliers(p.36)
- • Contingent liabilities from regulatory disputes(p.38)
- • Significant regulatory compliance issues with Enforcement Directorate(p.40)
- • Concentration of commission revenue from single supplier(p.36)
- • Dependence on limited number of major markets and revenue concentration(p.47)
- • Heavy reliance on Material Subsidiary concentrated in specific geography(p.49)
- • High trade receivables and increasing working capital requirements(p.51)
- • Significant ongoing litigation and regulatory proceedings against promoters and company(p.53)
- • Net losses in Fiscal 2021 and ongoing losses in certain subsidiaries(p.68)
- • Dependence on key promoters and high employee attrition(p.55)
- • Challenges in managing collection from buyers across multiple jurisdictions(p.52)
- • Missing corporate records and untraceable share transfer documentation(p.70)
- • Substantial increase in trade receivables relative to revenue growth(p.88)
- • Heavy reliance on Material Subsidiary for significant portion of revenue generation(p.122)
- • Past reliance on internal accruals and limited access to capital for acquisitions(p.124)
- • Limited financial resources for acquisitions and geographic expansion historically(p.125)
- • Dependence on a concentrated customer base with high customer concentration risk(p.153)
- • High proportion of international GTV exposed to forex conversion risks(p.177)
- • Take rate compression observed across hotel and air segments over time(p.177)
- • Significant ongoing investment required in sales and marketing for buyer acquisition(p.200)
- • Operating losses in early years despite recent profitability improvements(p.178)
- • Exposure to ongoing regulatory investigation and potential FEMA non-compliance liabilities(p.250)
- • Heavy dependence on trade receivables collection(p.257)
- • Significant loss allowance on receivables(p.293)
- • High operating expense structure(p.258)
- • Lease obligations and capital intensity(p.257)
- • Non-controlling interest losses on certain subsidiaries(p.257)
- • Significant contingent liabilities related to tax matters under dispute(p.325)
- • Regulatory compliance challenges relating to FEMA violations with potential material penalty(p.328)
- • Regulatory investigation by Enforcement Directorate relating to money laundering allegations(p.328)
- • Tax compliance issues with accumulated service tax demands from multiple assessment years(p.325)
- • TCS deposit delays creating working capital inefficiency with material receivables from airlines(p.328)
- • Non-controlling interest losses in BookaBed AG subsidiary with negative accumulated NCI(p.327)
- • Significant pending regulatory investigation creating uncertainty(p.344)
- • Substantial tax disputes and arrears outstanding for extended periods(p.346)
- • Significant goodwill on acquisitions creating impairment risk(p.338)
- • Heavy dependence on integration of newly acquired companies for synergies(p.360)
- • Exposure to customer insolvency affecting receivables(p.379)
- • Significant dependence on single supplier for hotel revenue(p.398)
- • Regulatory compliance risk from FEMA violations(p.401)
- • Operating loss in prior year affecting IPO eligibility(p.410)
- • Multiple tax litigations with uncertain outcomes(p.401)
Opportunities
- • Expanding travel and tourism industry growth globally(p.24)
- • Growing adoption of new age travel distribution platforms(p.24)
- • Investment in technology and data solutions to strengthen platform(p.25)
- • Strategic expansion through marketing and onboarding of buyers and suppliers(p.25)
- • Potential for inorganic growth through acquisitions(p.25)
- • Expansion of buyer and supplier base in existing and new markets(p.56)
- • Enhancement of platform value and technology capabilities(p.56)
- • Inorganic growth through strategic acquisitions(p.61)
- • Geographic expansion into new markets and regions(p.59)
- • New product and service line development(p.56)
- • Leveraging proprietary data and algorithms for relevant content delivery(p.45)
- • Geographic expansion into underpenetrated international markets(p.118)
- • Strategic acquisitions to enhance capabilities and market share(p.125)
- • Expansion into adjacent travel services and ancillary products(p.125)
- • Product-led Buyer onboarding and platform customization for new geographies(p.121)
- • Growing travel industry demand and market expansion potential(p.123)
- • Umrah travel market growing at 17.7% CAGR with market size expanding significantly(p.147)
- • Saudi Arabia positioned as fastest-growing Middle East tourism market with Vision 2030 investments(p.146)
- • Global travel market expected to grow at 8.2% CAGR driven by multiple tailwinds(p.145)
- • Large whitespace in assisted travel channel serving emerging markets and complex itineraries(p.171)
- • Ancillary services market offering significant cross-sell opportunity at US$ 305 billion growing at 8.5% CAGR(p.190)
- • Loyalty programs market growing at 10-12% annually representing US$ 24-27 billion in 2023(p.190)
- • Emerging markets generating incremental travelers with India's outbound passenger growth at 6% CAGR(p.159)
- • India travel buyer market growing at 13.9% CAGR with traditional agents maintaining 40-45% share(p.154)
- • Expanding B2B travel platform services across geographies(p.210)
- • Leveraging international travel and tourism expansion(p.210)
- • Growth in specialized travel segments(p.210)
- • Diversification into new travel verticals(p.210)
- • International expansion through established subsidiary footprint(p.263)
- • Technology-driven service scaling(p.268)
- • Growth in hotel and air ticketing segments(p.268)
- • Development of proprietary technology platforms(p.289)
- • Growing international travel markets through expanded subsidiary presence(p.324)
- • Consolidation of recent acquisitions including BookaBed AG and JUMBONLINE for enhanced platform capabilities(p.326)
- • Expansion into hotel accommodation services through acquired properties(p.321)
- • Growth in hotel and packages segment which generated largest revenue contribution(p.323)
- • Global travel market expansion as pandemic restrictions ease(p.341)
- • International market penetration with growing international buyer base(p.355)
- • Geographic diversification into European markets through recent acquisitions(p.341)
- • Launch of new product lines to diversify revenue streams(p.360)
- • Direct contracting growth potential to improve margins(p.360)
- • Expansion in emerging markets through acquisition strategy(p.391)
- • Growing travel demand post-COVID easing(p.385)
- • Introduction of new service offerings(p.385)
- • Capacity to scale operations in Latin America(p.383)
Threats
- • Sensitivity of travel industry to macroeconomic conditions and external shocks(p.34)
- • Travel industry exposure to external crises and security concerns(p.34)
- • Intense competition from multiple industry players(p.41)
- • Pricing pressure and unfavorable terms from suppliers(p.37)
- • Risk of supplier withdrawal and direct distribution preference(p.37)
- • Vulnerability to international regulatory changes and compliance requirements(p.49)
- • Exposure to foreign exchange rate fluctuations(p.54)
- • Travel demand subject to seasonal and cyclical fluctuations(p.73)
- • Platform disruption and cybersecurity threats(p.62)
- • Dependence on third-party service providers and payment gateways(p.52)
- • Risk of economic instability and adverse geopolitical conditions(p.77)
- • COVID-19 and future pandemic risks(p.77)
- • Competitive pressure and potential network effect loss(p.47)
- • Inflation and rising operational costs(p.79)
- • Changes in Indian tax and regulatory framework(p.79)
- • Dependence on Material Subsidiary for majority of international revenue(p.122)
- • Competitive market for skilled employees in travel technology sector(p.120)
- • Competitive talent market for sales and customer support personnel internationally(p.123)
- • Reliance on external vendors for critical technology infrastructure(p.120)
- • Exposure to foreign exchange fluctuations through international operations(p.90)
- • Highly competitive online channel dominated by large established OTAs with significant resources(p.152)
- • Google's expansion into travel booking creating potential existential threat to traditional OTAs(p.156)
- • Travel industry susceptibility to external shocks including pandemic-like disruptions(p.146)
- • Rate parity restrictions limiting pricing flexibility for online channel players(p.152)
- • GDS systems with limited non-air inventory access competing with newer platforms(p.163)
- • Regulatory changes affecting travel industry including visa policies and travel restrictions(p.150)
- • Foreign exchange and cross-border payment complexities creating operational friction(p.155)
- • IATA accreditation requirements creating barriers for travel agents accessing airline inventory(p.156)
- • Stringent data protection and privacy compliance requirements under GDPR(p.204)
- • Complex labor law compliance across multiple jurisdictions(p.205)
- • Regulatory risk from government content blocking and monitoring authority(p.203)
- • Ongoing enforcement investigation with uncertain outcomes(p.250)
- • Customer concentration risk in travel commission model(p.267)
- • Significant impairment risk on intangible assets and goodwill(p.274)
- • Foreign exchange exposure across operations(p.261)
- • Volatility in impairment charges affecting profitability(p.258)
- • Dependence on GDS and supplier relationships(p.268)
- • Concentration risk with single major customer representing substantial revenue(p.324)
- • Foreign exchange volatility exposure from significant international receivables and payables(p.308)
- • Regulatory and compliance risks across multiple jurisdictions affecting operations(p.325)
- • Rising lease obligations and finance costs impacting profitability(p.306)
- • Trade payables ageing with some invoices outstanding for extended periods indicating liquidity pressure(p.302)
- • Regulatory and compliance risks in travel and foreign exchange domains(p.344)
- • Exposure to airline industry volatility and customer credit risk(p.379)
- • Take rate compression in airline segment affecting margins(p.355)
- • Dependence on easing of travel restrictions subject to future pandemic or disruptions(p.341)
- • FX volatility impacting international operations and consolidated results(p.377)
- • Seasonal fluctuations in travel demand(p.398)
- • Ongoing Enforcement Directorate investigation(p.394)
- • Regulatory uncertainty on compounding applications(p.401)
- • Competitive environment in travel platform space(p.398)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Ankush Nijhawan | Individual Promoter | 0.63% | — |
| Gaurav Bhatnagar | Individual Promoter/Promoter Selling Shareholder | 20.00% | — |
| Manish Dhingra | Individual Promoter/Promoter Selling Shareholder | 5.63% | — |
| Arjun Nijhawan | Individual Promoter | — | — |
| LAP Travel Private Limited | Corporate Promoter/Promoter Selling Shareholder | 25.00% | — |
| Ankush Nijhawan | Promoter/Joint Managing Director | — | — |
| Gaurav Bhatnagar | Promoter/Joint Managing Director/Selling Shareholder | — | — |
| LAP Travel | Promoter Group/Selling Shareholder | — | — |
| Manish Dhingra | Selling Shareholder | — | — |
| Ankush Nijhawan | Promoter/Promoter Selling Shareholder | 0.63% | — |
| Gaurav Bhatnagar | Promoter/Promoter Selling Shareholder | 20.00% | — |
| LAP Travel | Promoter/Promoter Selling Shareholder | 25.00% | — |
| Manish Dhingra | Promoter/Promoter Selling Shareholder | 5.63% | — |
| Gaurav Bhatnagar | Promoter/Founder | — | — |
| Ankush Nijhawan | Promoter/Founder | — | — |
| Ankush Nijhawan | Promoter and Joint Managing Director | — | — |
| Gaurav Bhatnagar | Promoter and Joint Managing Director | — | — |
| Manish Dhingra | Promoter | — | — |
| Arjun Nijhawan | Promoter | — | — |
| LAP Travel Private Limited | Corporate Promoter | — | — |
| LAP Travel Private Limited | Promoter | 25.00% | — |
| Gaurav Bhatnagar | Promoter | 20.00% | — |
| Manish Dhingra | Promoter | 5.63% | — |
| Ankush Nijhawan | Promoter | 0.63% | — |
| Gaurav Bhatnagar | Promoter | 20.00% | — |
| LAP Travel Private Limited | Promoter Group | 25.00% | — |
| TBO Korea | Promoter Group | 11.06% | — |
| Augusta TBO | Promoter Group | 19.53% | — |
| Manish Dhingra | Promoter | 5.63% | — |
| Ankush Nijhawan | Promoter | — | — |
| Gaurav Bhatnagar | Promoter/Selling Shareholder | — | — |
| Manish Dhingra | Selling Shareholder | — | — |
| LAP Travel Private Limited | Selling Shareholder | — | — |
| Augusta TBO (Singapore) Pte. Ltd. | Selling Shareholder | — | — |
| TBO Korea Holdings Limited | Selling Shareholder | — | — |
Leadership
Ankush Nijhawan · Promoter/Joint Managing Director
Gaurav Bhatnagar · Promoter/Joint Managing Director
Neera Chandak · Company Secretary and Compliance Officer
Vikas Jain · Chief Financial Officer
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.
TBO Tek IPO FAQs
What is the lot size of TBO Tek IPO?
The minimum lot size of TBO Tek IPO is 16 shares. One lot costs ₹14,720 at the cut-off price.
When does TBO Tek IPO open and close?
TBO Tek IPO opened for subscription on 08 May 2024 and closed on 10 May 2024.
What is the listing date of TBO Tek IPO?
TBO Tek IPO listed on 15 May 2024.