Established in 2006, TBO Tek Limited, formerly known as Tek Travels Private Limited, 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.
The company simplifies the travel business for suppliers such as hotels, airlines, car rentals, transfers, cruises, insurance, rail companies, and others, as well as for retail customers such as travel agencies and independent travel consultants, and corporate customers such as tour operators, travel management companies, online travel companies, super apps and loyalty apps through our two-sided technology platform that enables suppliers and customers to connect seamlessly.
The company's platform enables sellers to show and market their inventory and set prices for buyers. For buyers, the platform is an integrated, multi-currency, and multi-lingual, one-stop solution that helps them discover and book travel to destinations around the world, across various travel segments such as leisure, business and religious travel.
As at December 31, 2023, the company had sold over 7,500 destinations in more than 100 countries and employed over 2,000 people.
| Purpose | Amount (₹ Cr) |
|---|---|
| Expansion of the Supplier and Buyer base; | — |
| Amplification of value of our platform by adding new lines of businesses; | — |
| Inorganic growth through selective acquisitions and building synergies with our existing platform; and | — |
| Leveraging data procured to offer bespoke travel solutions to our Buyers and Suppliers. | — |
| Metric | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Total Assets | 3,754 | 2,558 | 1,271 |
| Revenue | 1,040 | 1,086 | 512 |
| PAT | 154 | 148 | 34 |
| Net Worth | 501 | 337 | 232 |
| Reserves | 478 | 318 | 214 |
| Total Borrowing | 3 | 6 | 3 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | — | 12,618,012 (75%) | — |
| NII / HNI | — | 2,523,602 (15%) | — |
| Retail (RII) | — | 1,682,401 (10%) | — |
| Employee | — | 32,608 (0%) | — |
| Total | — | 16,856,623 (100%) | — |
* Amount calculated at upper price band (₹920) · ** Total includes all investor categories
- 1 Initiation of Refund 14 May 2024
- 2 Credit of Shares to Demat 14 May 2024
- 3 Lock-in Period (30%) June 12, 2024
- 4 Lock-in Period (50%) August 11, 2024
- Retail allocation is weak at 10% of the total offering.
- HNI/NII demand is good at 15%.
- Institutional (QIB) interest is strong at 75%.
- The IPO P/E of 49x reflects a weak valuation relative to typical market ranges.
- Pre-issue EPS of ₹14 compares to post-issue EPS of ₹19 after dilution.
This IPO has relatively lower interest or stretched valuation. Proceed with thorough research and caution.
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