Online Travel Platform TBO Tek Files For IPO Again, Know The Purpose
TBO Tek is a company that operates online, helping people and businesses pick out travel services. Think of it as a digital marketplace where folks involved in travel, like hotels and travel agents, come together to do business.
Recently, TBO Tek decided to go public, by launching an Initial Public Offering, like the last Protean eGov IPO. It’s a big step for a company because it helps them raise money from a larger pool of investors. It’s where people like you and me can come in and own a small part of the company by buying these shares.
TBO Tek is aiming to gather around ₹400 crore rupees from new shares they’re creating just for this purpose. They also have some existing owners, who started the company and others who invested in it early on. All those existing owners are looking to sell their shares.
This part doesn’t bring new money to the company; it’s more about letting these early investors get some returns on their investments.
With the money they raise, TBO Tek has a plan. They want to use a big chunk, 260 crore rupees, to grow bigger and better.
They’re looking to attract more businesses to use their platform, which could help everyone find better deals and more options when they travel.
They also have their eye on buying other companies that can help them expand, and they’ve set aside 40 crore rupees for this.
Lastly, let’s reveal who owns TBO Tek. There are a few key players. There are the company’s creators – Gaurav Bhatnagar and Manish Dhingra – and a company called LAP Travel.
Then there are big investors like Augusta TBO from abroad and General Atlantic. They all own significant parts of TBO Tek.
These people have seen the company grow from its early days and have helped it reach the point where it can now consider inviting more people to join in as owners through this IPO.
This is the second time when TBO Tek is approaching SEBI for the IPO. Back in December 2021, they prepared to raise funds through an IPO, which even got the green light from the regulatory body by May 2022.
However, they didn’t go ahead with it because the timing wasn’t great; the market was going through a rough patch, partly because of geopolitical tensions making investors nervous. So, they decided to wait for a better opportunity, which seems to be now, as they’re giving it another go.