TBO Tek IPO GMP correct sharply; allotment status likely to be out today
Bidders for the IPO of TBO Tek will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate either over the weekend or latest by Tuesday May 14.
- May 13, 2024,
- Updated May 13, 2024 12:05 PM IST
The grey market premium (GMP) of TBO Tek shares have taken a beating after the less than expected listing of Indegene Ltd. The listing-bound player has seen a sharp correction in the last few hours, just before it is likely to finalize the allotment of its shares to investors, who had participated in the IPO.
Last heard, shares of TBO Tek were commanding a grey market premium of Rs 430-450 apiece, suggesting a listing pop of 45-48 per cent from the investors. However, its premium in the unofficial market stood at Rs 540-550-levels, when the issue closed for bidding on May 10. The then GMP signaled about 60 per cent listing pop for the investors.
The recent round of correction in the secondary markets, led by election led uncertainty and less than expected listing of Indegene Ltd is weighing on the listing prospects of TBO Tek. Also, if the market sentiments continue to remain feeble in the, probability of more correction in the GMP can not be ruled out.
Bidders for the IPO of the travel distribution platform will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate either over the weekend or latest by Tuesday May 14. The company is set to make its Dalal Street debut on Wednesday, May 15, 2024.
The IPO of TBO Tek kicked off-for bidding on May 8 as the New Delhi-based company had offered its shares in the fixed price band of Rs 875-920 per share with a lot size of 16 shares. The company raised a little more than Rs 1,550.81 crore via IPO route, including a fresh share sale of Rs 400 crore and an offer-for-sale (OFS) of up to 1,25,08,797 shares.
The issue saw a solid bidding and was overall subscribed 86.70 times. The quota for qualified institutional bidders (QIBs) was booked a whopping 125.51 times The quota for non-institutional investors was subscribed 50.60 times. The portions reserved for retail investors and employees saw bidding for 25.74 times and 17.82 times, respectively during the three-day bidding process.
Axis Capital, Goldman Sachs (India) Securities, JM Financial and Jefferies India are the book running lead managers of the TBO Tek IPO, while Kfin Technologies is the registrar for the issue. Brokerage firms are mostly positive on the issue, suggesting investors to subscribe to it.
Established in 2006, TBO Tek, formerly known as Tek Travels, 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's platform enables sellers to show and market their inventory and set prices for buyers.
Investors, who had bid for the issue of TBO Tek, can check the allotment status on the Bombay Stock Exchange (BSE) website. Also, Investors can also check the allotment status on the online portal of KFin Technologies.
Allotment Status on BSE's website 1) Visit https://www.bseindia.com/investors/appli_check.aspx 2) Under the issue type, click Equity 3) Under the issue name, select TBO Tek Ltd in the dropbox 4) Write the application number 5) Add the PAN card ID 6) Click on 'I am not a Robot' and hit submit.
Allotment Status via registrar 1) Go to the web portal of KFin Technologies (https://kosmic.kfintech.com/ipostatus) 2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized 3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID 4) In application type, select between ASBA and non-ASBA 5) Enter the details of the mode you selected in Step 2 6) For security purposes, fill the captcha accurately 7) Hit submit.
The grey market premium (GMP) of TBO Tek shares have taken a beating after the less than expected listing of Indegene Ltd. The listing-bound player has seen a sharp correction in the last few hours, just before it is likely to finalize the allotment of its shares to investors, who had participated in the IPO.
Last heard, shares of TBO Tek were commanding a grey market premium of Rs 430-450 apiece, suggesting a listing pop of 45-48 per cent from the investors. However, its premium in the unofficial market stood at Rs 540-550-levels, when the issue closed for bidding on May 10. The then GMP signaled about 60 per cent listing pop for the investors.
The recent round of correction in the secondary markets, led by election led uncertainty and less than expected listing of Indegene Ltd is weighing on the listing prospects of TBO Tek. Also, if the market sentiments continue to remain feeble in the, probability of more correction in the GMP can not be ruled out.
Bidders for the IPO of the travel distribution platform will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate either over the weekend or latest by Tuesday May 14. The company is set to make its Dalal Street debut on Wednesday, May 15, 2024.
The IPO of TBO Tek kicked off-for bidding on May 8 as the New Delhi-based company had offered its shares in the fixed price band of Rs 875-920 per share with a lot size of 16 shares. The company raised a little more than Rs 1,550.81 crore via IPO route, including a fresh share sale of Rs 400 crore and an offer-for-sale (OFS) of up to 1,25,08,797 shares.
The issue saw a solid bidding and was overall subscribed 86.70 times. The quota for qualified institutional bidders (QIBs) was booked a whopping 125.51 times The quota for non-institutional investors was subscribed 50.60 times. The portions reserved for retail investors and employees saw bidding for 25.74 times and 17.82 times, respectively during the three-day bidding process.
Axis Capital, Goldman Sachs (India) Securities, JM Financial and Jefferies India are the book running lead managers of the TBO Tek IPO, while Kfin Technologies is the registrar for the issue. Brokerage firms are mostly positive on the issue, suggesting investors to subscribe to it.
Established in 2006, TBO Tek, formerly known as Tek Travels, 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's platform enables sellers to show and market their inventory and set prices for buyers.
Investors, who had bid for the issue of TBO Tek, can check the allotment status on the Bombay Stock Exchange (BSE) website. Also, Investors can also check the allotment status on the online portal of KFin Technologies.
Allotment Status on BSE's website 1) Visit https://www.bseindia.com/investors/appli_check.aspx 2) Under the issue type, click Equity 3) Under the issue name, select TBO Tek Ltd in the dropbox 4) Write the application number 5) Add the PAN card ID 6) Click on 'I am not a Robot' and hit submit.
Allotment Status via registrar 1) Go to the web portal of KFin Technologies (https://kosmic.kfintech.com/ipostatus) 2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized 3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID 4) In application type, select between ASBA and non-ASBA 5) Enter the details of the mode you selected in Step 2 6) For security purposes, fill the captcha accurately 7) Hit submit.