TBO TEK (MAINBOARD)
May 8, 2024 - May 10, 2024
| Price | ₹875 - ₹920 |
| Premium | ₹300 |
|---|---|
| Lot size | 16 |
| Allotment | May 13, 2024 |
| Listing | May 15, 2024 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 16 | 14720 | 105150 |
| sHNI | 14 | 224 | 206080 | 3755 |
| bHNI | 68 | 1088 | 1000960 | 7511 |
Last Updated as on 10-May-2024 17:54:00
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 5047205 | 633476128 | 125.51 |
| HNIs | 2523602 | 127647040 | 50.58 |
| HNIs (10L+) | 1682402 | 93909920 | 55.82 |
| HNIs (2-10L) | 841200 | 33737120 | 40.11 |
| Retail | 1682401 | 43149520 | 25.65 |
| Employees | 32608 | 578432 | 17.74 |
| Total | 9285816 | 804851120 | 86.68 |
Application Wise Breakup (Approx) | |||
|---|---|---|---|
| Category | Reserved | Applied | Times |
| HNIs (10L+) | 7511 | 83890 | 11.17 |
| HNIs (2-10L) | 3755 | 144909 | 38.59 |
| Retail | 105150 | 2147109 | 20.42 |
| Total Application : 2375908 | |||
| © IPO Premium | |||
| QIB Interest Cost per share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹155.01 | @8% ₹177.16 | @9% ₹199.3 | @10% ₹221.45 | @11% ₹243.59 | @12% ₹265.74 |
| Big HNI (10L+) Cost per lot (7 Days) |
|---|
| Assuming fix interest of ₹2000 per application Big HNI (10L+) costing for every 1 lot allotment is ₹22328 |
Top 5 Anchor Details
| Name of Anchor | No. of Shares | % Portion | Amount (cr) |
|---|---|---|---|
| ABU DHABI INVESTMENT AUTHORITY - MONSOON | 408704 | 5.40% | 37.60 |
| GOVERNMENT PENSION FUND GLOBAL | 408704 | 5.40% | 37.60 |
| NEUBERGER BERMAN INVESTMENT FUNDS PLC/NEUBERGER BERMAN EMERGING MARKETS EQUITY FUND | 408704 | 5.40% | 37.60 |
| NOMURA FUNDS IRELAND PUBLIC LIMITED COMPANY- NOMURA FUNDS IRELAND - INDIA EQUITY FUND | 408704 | 5.40% | 37.60 |
| SBI TECHNOLOGY OPPORTUNITIES FUND | 408704 | 5.40% | 37.60 |
Incorporated as Tek Travels Private Limited on November 6, 2006, the company has emerged as a dominant player in the global travel and tourism industry. According to the 1Lattice Report, it leads in Gross Transaction Volume (GTV) and revenue for Fiscal 2023, operating across more than 100 countries. With a workforce of 2000 employees as of December 2023, Tek Travels is committed to streamlining travel complexities for both Suppliers and Buyers. By curating a diverse travel inventory tailored to customer needs, it facilitates seamless transactions between Suppliers, such as hotels and airlines, and Buyers, including travel agencies and online platforms. Through its two-sided technology platform, Tek Travels enables Suppliers to showcase inventory and set prices while providing Buyers with a multi-currency, multi-lingual solution for global travel booking. Its revenue models, including the B2B Rate Model and Commission Model, ensure mutually beneficial outcomes for all stakeholders involved.
IPO Details
| Issue Size | Up to [16,856,623] Equity Shares aggregating up to [1550.81] Cr |
| Fresh Issue | [4,347,826] shares (aggregating up to 400 Cr) |
| Offer For Sale | 12,508,797 shares (aggregating up to 1150.81 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE NSE |
| Share holding pre issue | 104,239,961 Equity Shares |
| Share holding post issue | 108,587,787 Equity Shares |
IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not less than 75% of the Net offer |
| Retail Shares Offered | Not more than 10% of the Net offer |
| NII(HNI) Shares Offered | Not more than 15% of the Net offer |
Key Performance Indicators
| KPI | Dec-23 | Mar-23 | Mar-22 |
|---|---|---|---|
| RONW | 30.76% | 44.04% | 14.54% |
| EPS (basic & diluted) | 15.3 | 14.21 | 3.32 |
Financial Statement (Restated Consolidated)
| Period | Dec-23 | Mar-23 | Mar-22 | Mar-21 |
|---|---|---|---|---|
| Assets | 3,754.05 | 2,557.93 | 1,271.43 | 576.16 |
| Revenue | 1,039.56 | 1,085.77 | 511.93 | 176.55 |
| Profit After Tax | 154.18 | 148.49 | 33.72 | -34.14 |
| Net Worth | 501.21 | 337.19 | 231.90 | 204.07 |
| Reserves and Surplus | 478.43 | 317.57 | 214.08 | 197.58 |
| Total Borrowing | 2.93 | 6.36 | 2.69 | - |
| Amount in Crores | ||||
Strength Factors
Data-Driven Decision Making: Leveraging data across the enterprise enables informed and strategic decision-making, enhancing agility and responsiveness to market changes.
Experienced Management Team: The combination of founder-led vision and a professional management team with deep expertise in both travel and technology ensures strong leadership and industry knowledge to drive innovation and growth.
Capital-Efficient Business Model: The company's efficient business model, characterized by operating leverage and strong cash generation, demonstrates financial resilience and scalability, leading to significant growth in Adjusted EBITDA over successive fiscal years.
Risk Factors
Intense Competition: Operating in a highly competitive industry poses a risk, as failure to compete effectively could impact market share and financial performance.
Lack of Comparable Peers: Without exact comparable listed peers in India or abroad, valuation comparability is challenging, potentially leading to discrepancies in market perception and valuation.
Online Payment Risks: Dependency on online payment methods exposes the company to risks such as cybersecurity threats, fraud, and regulatory changes, which could adversely affect its business, brand reputation, and financial stability.
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