TBO Tek shares list at Rs 1,426, a premium of 55%, to the issue price of Rs 920, on the National Stock Exchange.
In the grey market, TBO Tek’s stocks were seeing a premium of 38% to the issue price. A grey market is an unofficial place to trade shares before listing. Market participants track to take cues for IPOs.
About TBO Tek IPO
The company raised Rs 1,550.81 crore from investors by offering them 16.8 million shares through a combination of fresh issues as well as an offer for sale. Its bidding started on May 08 at a price band of Rs 875 to 920 per equity share and till May 10. A retail investor had to bid for a minimum of 16 shares amounting Rs 14,720.
Objective behind IPO
The travel company will use these funds to expand its supplier and buyer base, adding new lines of business, mergers and acquisitions, and leveraging data procured to offer bespoke travel solutions.
BRLMs
Goldman Sachs (India) Securities, Axis Capital, Jefferies India, and JM Financial were the book-running lead managers. Kfin Technologies worked as the registrar for the issue.
