TBO Tek IPO

TBO Tek Ltd

₹14,000 /16 sharesMinimum Investment

TBO Tek IPO Listing Details

Listed OnIssue PriceListing PriceListing Gains
BSE₹920.00₹1,426.00₹506.00 (55.00%)

TBO Tek IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
8 May ‘24 - 10 May ‘24₹14,00016₹875 - ₹920
Issue SizeIPO Doc
1550.81Cr
RHP PDF

Subscription Status As on 10 May '24, 5:00 PM

  • Qualified Institutional Buyers
    125.51x
  • Non-Institutional Investor
    50.00x
  • Retail Individual Investor
    23.14x
  • Employees
    15.57x
  • Total
    86.06x

About TBO Tek

TBO Tek Limited operates as a travel distribution platform with a presence across 100 countries. The company provides buyers with a travel inventory and forex assistance. The company’s two-sided technology platform enables Suppliers and Buyers to transact with each other. The Suppliers include hotels, airlines, car rentals, transfers, cruises, insurance, rail and others. Retail Buyers include travel agencies and independent travel advisors, and Enterprise Buyers include tour operators, travel management companies, online travel companies, super-apps and loyalty apps. Retail Buyers are the individual customers. The company has two key revenue models to undertake transactions – B2B Rate Model, and the Commission Model. In the former, the company receives inventory from Suppliers on which it applies a mark-up and passes it on to Buyers. In the Commission Model, the Suppliers fix a price at which they sell to the end traveller. The commission received here is shared by the company and the Buyers.;
Parent Organisation
TBO Tek Ltd
Founded
2006
Managing Director
Mr. Ravindra Dhariwal

Strengths & Risks

  • According to the RHP, the company’s platform has seen the number of Buyers increase from 23,532 in FY21 to 41,861 in FY24, while Suppliers increased from 45,025 to 213,633 over the same period.
  • According to the RHP, for every 100 searches, the number of bookings has grown from 4.87% in FY21 to 7.29% in FY24 Over the years FY21 to FY23, cross selling of buyers booking one product has grown at a CAGR of 4.13% and buyers selling more than one product has grown at a CAGR or 92.86%.
  • The company’s platform is modular allowing it to develop and launch solutions that serve specific Buyer and Supplier segments efficiently. This leverages the platform’s core capabilities including Supplier and Buyer modules, payment infrastructure, with data assets and analytics, to quickly go-to-market and scale with minimal investment.
  • Since the platform generates large volumes of data, the company has developed an enterprise-wide data warehouse that segments data into areas such as searches, bookings, invoices, and payments. This data is curated and verified for accuracy before being subjected to data analytics, says the RHP.
  • The company reported revenue from operations of Rs. 141.80 cr, Rs. 483.26 cr and Rs. 1,064.58 cr in FY 2021, 2022 and 2023 respectively.
  • The company is dependent on the hotels and ancillary bookings whose contribution has increased from 35.69% of revenue from operations for FY2021 to 67.83% for FY2023 and was 67.59% and 72.47%, respectively, for the nine months ended December 31, 2022 and December 31, 2023.
  • The company’s gross transaction value (GTV) is entirely dependent on its air and hotels and ancillary bookings in the last three financial years and in the nine months ended December 31, 2022 and December 31, 2023, respectively.
  • The company is dependent on a limited number of Suppliers for a significant portion of its GTV. The relationships with its Suppliers enables the company to offer its Buyers access to travel services and products. Any adverse changes in such relationships, or inability to enter into new relationships with Suppliers, could adversely impact the company’s ability to offer services and products.
  • The company has contingent liabilities worth about Rs. 50.14 crore that have not been provided for in the financial statements.
  • The company and its Joint Managing Directors, Ankush Nijhawan and Gaurav Bhatnagar, have received show cause notices from the Enforcement Directorate with regard to transactions carried out on the company’s portal by some parties based outside India, for alleged money laundering activities in Bangladesh. There are outstanding litigation proceedings against the company, its subsidiaries and promoters. Any adverse outcome of these proceedings could adversely impact the business, finances and reputation of the company,

Financials

*All values are in Rs. Cr
No Graph Data To Display

Application details

Apply asPrice bandApply upto
Regular875 - 920₹2 Lakh
Employee875 - 920₹2 Lakh
High Networth Individual875 - 920₹2 - 5 Lakh
For TBO Tek IPO, eligible investors can apply as Regular & Employee.
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