The scrip was listed at Rs 1,380, exhibiting a 50% premium to the issue price.

So far, the stock has hit a high of 1,455.95 and a low of 1,275. On the BSE, over 4.02 lakh shares of the company were traded in the counter so far.

The initial public offer (IPO) of TBO was subscribed 86.70 times. The issue opened for bidding on 8 May 2024 and it closed on 10 May 2024. The price band of the IPO was fixed between Rs 875 to Rs 920 per share.

The offer comprised fresh issue of equity shares worth up to Rs 400 crore and an offer for sale of 1,25,08,797 equity shares. The promoter stake, at 51.26%, will dilute post-IPO to 46.8%.

Out of the proceeds from the fresh issue, Rs 135 crore will be used for investment in technology and data solutions, Rs 100 crore towards investment in material subsidiary, Tek Travels DMCC, for on-boarding platform users through marketing and promotional activities, Rs 25 crore towards building sales and marketing infrastructure, Rs 40 crore towards inorganic acquisitions, and the remaining for general corporate purpose.

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 firm reported a net profit of Rs 154.18 crore and sales of Rs 1,023.75 crore for the nine months ended on 31 December 2023.