TBO Tek Ltd Share Price – NSE  /  BSE

Miscellaneous, Small Cap

Net profit of TBO Tek rose 74.32% to Rs 46.63 crore in the quarter ended March 2024 as against Rs 26.75 crore during the previous quarter ended March 2023. Sales rose 31.15% to Rs 369.07 crore in the quarter ended March 2024 as against Rs 281.41 crore during the previous quarter ended March 2023.

For the full year,net profit rose 40.14% to Rs 202.15 crore in the year ended March 2024 as against Rs 144.25 crore during the previous year ended March 2023. Sales rose 30.83% to Rs 1392.82 crore in the year ended March 2024 as against Rs 1064.59 crore during the previous year ended March 2023.

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TBO Tek will hold a meeting of the Board of Directors of the Company on 30 May 2024

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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.

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The equity shares of TBO TEK (Scrip Code: 544174) are listed and admitted to dealings on the Exchange in the list of ''B'' Group Securities.

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