TBO Tek IPO allotment expected tomorrow: Check status, GMP, listing date and other details

After a bumper response for the IPO, TBO Tek is likely to finalise the share allotment on Monday. The issue was booked over 80 times at close on strong interest from non-institutional investors. Investors can check the status of their share allotment on the BSE or even by logging in to the registrar’s website.

Firstly, here’s how you can know the status on the BSE

Step 1: Visit the BSE Website (https://www.bseindia.com/investors/appli_check.aspx)

Step 2: Please select the issue name, that is company’s name in the drop-down.

Step 3: Enter the application number or PAN number to check the allotment status.Also Read: IPO Calendar: Primary market to host Go Digit’s highly-anticipated issue, 4 SME IPOs & 12 listings next weekTo check the status of TBO Tek IPO allotment through the registrar, which is Kfin Technologies in this case, kindly follow the below steps.Step 1: Visit the Kfin Technologies website (https://rti.kfintech.com/ipostatus/)

Step 2: Select TBO Tek IPO

Step 3: Enter the PAN details and click search to know the status

TBO Tek GMP

In the unlisted market, the company’s shares are trading with a premium of Rs 550. This compares with an IPO price of 920, indicating a gain of over 60% on listing day, which is fixed as May 15.

Ahead of the issue opening, the company raised nearly Rs 697 crore from anchor investors.

The funds raised through the fresh issue would be used for the growth and strengthening of the company platform by adding new buyers and suppliers and towards unidentified inorganic acquisitions along with general corporate purposes.

TBO simplifies the business of travel for suppliers such as hotels, airlines, and retail buyers such as travel agencies and enterprise buyers that include tour operators, and travel management companies through the two-sided technology platform that enables suppliers and buyers to transact seamlessly with each other.

The platform connects over 147,000 buyers across more than 100 countries with over one million suppliers as of June 2023. Recently, leading investment firm General Atlantic acquired a minority stake in TBO.

In 2023, the travel and tourism industry is estimated to recover at pace, growing 18% YoY from 2022 to reach $1.9 trillion, and is expected to grow at a CAGR of 8.2% to reach $2.6 trillion in 2027.

Axis Capital, Goldman Sachs (India) Securities, JM Financial, and Jefferies India are the book-running lead managers to the issue.