TBO Tek IPO GMP: Should You Apply? Check Expert Insights, Subscription Status, And Other Details

TBO Tek IPO GMP: The initial public offering (IPO) of TBO Tek opened its subscription window on May 08 and is scheduled to close its subscription window on May 09. As the market is flooded with the IPOs. Investors would be in the confusion about choosing the right IPO and making returns. Here is expert insight on the TBO Tek IPO, check the latest GMP, price band, subscription status, allotment date, minimum investment and other details here.

TBO Tek IPO GMP Today: Check Latest GMP

According to multiple grey market tracking websites. The grey market premium (GMP) of TBO Tek is price ranges from Rs 545 per share to Rs 550 per share.

TBO Tek Subscription Status

TBO Tek IPO grained 3.53 times the subscription rate. The public issue subscribed 9.16 times in the retail category, 0.16 times in QIB, and 6.49 times in the NII category by May 9, 2024, 3:45:06 PM.

TBO Tek IPO: Should You Apply?

TBO Tek Ltd.’s IPO, marked by a substantial Offer for Sale (OFS), presents a complex scenario for potential investors. This global travel distribution leader, set to expand following FY2023’s achievements, navigates an industry vulnerable to global uncertainties, highlighted during the pandemic and current geopolitical tensions limiting travel.

"Its financials reflect such volatility, suggesting a sensitivity that may not sit well with the steep valuations sought, offering limited medium-term gains for shareholders. Furthermore, the IPO's structure, heavily leaning on an OFS, and the modest proceeds from the fresh issue raise questions about its adequacy for TBO Tek’s operational scale.

The company positions itself ambitiously, yet its valuation aspirations, amidst comparisons to disparate peers and ambitious benchmarks, seem misaligned with its strategy and market realities. Investors are left evaluating the potential of this opportunity against a backdrop of financial manoeuvres favouring the insiders and regulatory scrutiny faced by the promoters. Despite support from renowned underwriters, the offering lacks the compelling clarity needed for a strong investment case, prompting me to pivot to SME IPOs that might better reflect value and stability in an unpredictable market environment," said Tarun Singh, Founder and Managing Director of Highbrow Securities.

TBO Tek IPO

TBO Tek IPO is a book-built issue, aiming to raise a substantial Rs 1,550.81 crores. This includes a fresh issue of 0.43 crore shares, amounting to Rs 400.00 crores, and an offer for sale of 1.25 crore shares, valued at Rs 1,150.81 crores.

TBO Tek IPO Subscription Window Timeline

The bidding for the TBO Tek IPO commenced on May 8, 2024, and is set to conclude on May 10, 2024.

TBO Tek IPO Allotment Date

The allotment process is anticipated to be finalized by Monday, May 13, 2024.

TBO Tek IPO Listing Date

The IPO is scheduled to list on both BSE and NSE, with the tentative listing date fixed for Wednesday, May 15, 2024.

TBO Tek IPO Price Band

The price band for the TBO Tek IPO is set at Rs 875 to Rs 920 per share.

TBO Tek IPO Lot Size And Minimum Investment

Investors can apply for a minimum lot size of 16 shares, requiring an investment of Rs 14,720. For Non-Institutional Investors (sNII), the minimum lot size is 14 lots (224 shares), amounting to Rs 206,080. For Qualified Institutional Buyers (bNII), it stands at 68 lots (1,088 shares), totaling Rs 1,000,960.

TBO Tek IPO Book-Running Lead Managers and Registrar

Axis Capital Limited, Jefferies India Private Limited, Goldman Sachs (India) Securities Private Limited, and JM Financial Limited are entrusted with the role of book-running lead managers for the TBO Tek IPO. KFin Technologies Limited is designated as the registrar for the issue, ensuring smooth facilitation and management throughout the IPO process.