S&R Associates Represented Book Running Lead Managers In TBO Tek's ₹15.51 Billion IPO
S&R Associates represented the book running lead managers – Axis Capital, Goldman Sachs, Jefferies, and JM Financial – in
S&R Associates Represented Book Running Lead Managers In TBO Tek's ₹15.51 Billion IPO
S&R Associates represented the book running lead managers – Axis Capital, Goldman Sachs, Jefferies, and JM Financial – in the successful ₹15.51 billion initial public offering (IPO) of TBO Tek Limited. TBO Tek operates a leading online B2B travel distribution platform.
TBO Tek's share price opened at ₹1,426 per share, 55% higher than the issue price of ₹920. On the BSE, TBO Tek shares started trading at ₹1,380 apiece, marking a 50% increase from the issue price. According to NSE data, TBO Tek's initial public offering was subscribed 86.70 times on the final day. The segment for Qualified Institutional Buyers (QIBs) was oversubscribed 125.51 times, the non-institutional investor group 50.60 times, and the retail individual investors (RIIs) segment 25.74 times.
The price band for each equity share, with a face value of Re 1, was set between ₹875 and ₹920. Each lot in the IPO comprised 16 equity shares, with additional lots available in multiples of 16 shares. The IPO allocated 75% of the net offer to QIBs, 15% to NIIs, and 10% to retail investors, with equity shares worth up to ₹3 crore reserved for employees.
The S&R Associates team, led by Partner Jitesh Shahani and Counsel Shiv Bhargava, with Associates Mittu C., Aditya Jain, and Ayushi Shrivastava, demonstrated their expertise on the transactions.