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TBO Tek Limited

TBO Tek Limited

TBO Tek Limited is a leading provider of tech solutions to the travel industry.

About Company

Exploring TBO Tek Limited: India's Travel Technology Trailblazer


In the dynamic world of travel and technology, TBO Tek Limited stands out as a beacon of innovation and service excellence. Established in 2006, TBO Tek, formerly known as Tek Travels Private Limited, has carved a niche for itself as a leading travel distribution platform, not just in India but on a global scale.


The company's inception coincided with the Indian aviation boom, positioning it perfectly to capitalize on the burgeoning demand for travel services. Over the years, TBO Tek has evolved into a comprehensive travel solutions provider, offering a wide array of services that cater to the nuanced needs of today's travelers.


TBO Tek's business model is centered around empowering travel businesses by simplifying the booking process. It connects travel agents, referred to as 'Buyers', with 'Suppliers' such as airlines, hotels, and car rental services across over 100 countries. This seamless integration of services is facilitated through TBO Tek's robust technology platform, which supports a multitude of currencies and provides forex assistance, thereby addressing the challenges of international travel bookings.


The company's growth trajectory has been impressive, with a reported 147,000 travel buyers and a presence through 21 offices across India. TBO Tek's platform is a testament to its commitment to providing white label solutions and B2B travel agency services, enabling customers to purchase domestic and international air tickets, hotels, travel insurance, and holiday packages through its portal.


As of May 2024, TBO Tek has taken a significant leap forward with its Initial Public Offering (IPO). The IPO, a combination of a fresh issue and an offer for sale, aims to raise substantial capital, reflecting the company's ambition to further solidify its position in the market and expand its offerings.


The promoters of TBO Tek, Ankush Nijhawan, Gaurav Bhatnagar, Manish Dhingra, and Arjun Nijhawan, have been instrumental in steering the company towards success. Their vision for TBO Tek is not just about being a travel distribution platform but about creating joyful experiences for travelers worldwide.


TBO Tek's commitment to customer service is evident through its 24x7 helpdesk and technical support, ensuring that travel agents and end-users receive assistance whenever needed. This dedication to service is complemented by the company's continuous pursuit of technological advancements, making travel bookings more accessible and hassle-free.


The future looks promising for TBO Tek Limited as it continues to innovate and expand its services. With its recent IPO and ongoing initiatives, TBO Tek is poised to redefine the travel distribution landscape, making it an exciting time for the company, its stakeholders, and the travel industry at large.

TBO Tek Limited

Company Financials

TBO Tek Limited

IPO Timeline (Tentative Timetable)

The Initial Public Offering (IPO) of TBO Tek Limited, a prominent player in the travel distribution platform sector, marks a significant event in the company's history as well as the Indian stock market. Here's a detailed timeline of the IPO process:


IPO Announcement and Issue Open Date:


The company announced its IPO and opened the issue for subscription on May 8, 2024. This marked the commencement of a new chapter for TBO Tek Limited, offering both institutional and retail investors an opportunity to be a part of its growth story.


Price Band and Lot Size Determination:

TBO Tek Limited set the price band for its IPO at INR 875 to INR 920 per share, with a lot size of 16 shares. This pricing strategy was designed to make the IPO accessible to a wide range of investors, balancing market demand with the company's valuation expectations.


Subscription Period:

The subscription window for the IPO remained open for three days, starting from the issue open date and concluding on May 10, 2024.


Basis of Allotment: Following the closure of the subscription period, the basis of allotment will be finalized on May 13, 2024. This step involved the distribution of shares to various categories of investors based on the bids received and the pre-determined allotment criteria.


Initiation of Refunds:

For those investors who were not allotted shares or received fewer shares than they bid for, the initiation of refunds will take place on May 14, 2024. This ensured that investors' funds were promptly returned to them.


Credit of Shares to Demat Accounts:


Simultaneously with the refund process, shares were credited to the Demat accounts of successful allottees on May 14, 2024. This marked the completion of the allotment process and prepared investors for the upcoming listing of the company's shares on stock exchanges.


Listing Date:


The culmination of the IPO process was the listing of TBO Tek Limited's shares on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on May 15, 2024. The listing date is a momentous occasion, as it represents the company's transition to a publicly-traded entity and the beginning of its journey in the public markets.


The IPO of TBO Tek Limited was a significant event, reflecting the company's growth trajectory and the market's appetite for new investment opportunities. The timeline of the IPO process demonstrates the meticulous planning and execution required to successfully navigate the complexities of going public. As TBO Tek Limited embarks on its journey as a publicly-listed company, it opens up new avenues for growth and value creation for its shareholders.

TBO Tek Limited

IPO Details

Competitive Strength

Exploring the Competitive Strengths of TBO Tek Limited


TBO Tek Limited, a prominent player in the global travel and tourism industry, has carved out a niche for itself with its innovative approach and robust technology platform. Established in 2006 as Tek Travels Private Limited, TBO Tek has evolved into a leading travel distribution platform, operating in over 100 countries and showcasing a significant presence in terms of Gross Transaction Value ("GTV") and revenue from operations for Fiscal 2023.


At the heart of TBO Tek's success is its two-sided technology platform that has revolutionized the way suppliers and buyers interact in the travel industry. The platform's modular and scalable proprietary technology allows for the addition of new lines of business, markets, and travel products seamlessly. This flexibility has enabled TBO Tek to create a network effect with interlinked flywheels, enhancing the value proposition for its partners.


One of the key competitive strengths of TBO Tek is its ability to generate and leverage large data assets. This data-driven approach facilitates informed decision-making across the enterprise, ensuring that both suppliers and buyers benefit from the most relevant and up-to-date travel solutions. The company's founders, supported by an experienced professional management team with deep travel and technology expertise, have fostered a culture of innovation and efficiency.


TBO Tek's business strategy is focused on expanding its supplier and buyer base, amplifying the value of its platform by adding new lines of businesses, pursuing inorganic growth through selective acquisitions, and building synergies with its existing platform. Moreover, the company leverages the data procured to offer bespoke travel solutions to its buyers and suppliers, tailoring services to the unique needs of each client.


Financially, TBO Tek has demonstrated impressive growth. The company's topline surged by 112.09%, and its profit after tax (PAT) zoomed by 340.4% between the financial years ending March 31, 2023, and March 31, 2022. Such financial performance is indicative of the company's capital-efficient business model, which combines

Company's Past Financial Performance

Analyzing the Financial Performance of TBO Tek Limited: A Three-Year Overview


TBO Tek Limited, a company that began its journey as Tek Travels Private Limited in 2006, has established itself as a significant player in the travel distribution platform sector. The company's financial performance over the past three years has been noteworthy, especially considering the challenges faced by the travel industry during this period.


Revenue Growth

The company's revenue trajectory has been impressive, with a reported surge of 112.09% in the financial year ending March 31, 2023, compared to the previous year. This remarkable growth can be attributed to TBO Tek's robust business model and its ability to adapt to the dynamic travel market. The company's focus on expanding its supplier and buyer base, along with adding new lines of business, has played a crucial role in driving revenue.


Profitability

In terms of profitability, TBO Tek has seen a substantial increase in its profit after tax (PAT), which zoomed by 340.4% between the financial years ending March 31, 2023, and March 31, 2022. This leap in profitability reflects the company's operational efficiency and its strategic initiatives to optimize costs while expanding its market reach.


Net Worth and EBITDA

The company's net worth has shown a healthy increase of 27.89%, indicating a solid financial position and the potential for sustainable growth. The EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) also witnessed a significant rise of 164.54%, suggesting that TBO Tek is generating healthy profits before accounting for non-operational expenses.


Asset and Liability Management

TBO Tek's total assets have increased by 23.57%, which includes a notable growth in current assets by 26.18%. This increase in assets demonstrates the company's ability to invest in its growth and the confidence of its financial partners. On the liability side, there has been an increase of 24.95%, which is in line with the company's expansion activities and reflects its strategic financial management.


Market Outlook and IPO

The recent announcement of TBO Tek's IPO, with a price band set at Rs 875-920 per share, has generated significant interest in the market. The Grey Market Premium (GMP) stands at Rs 530, indicating a potential listing gain of 57.61% at the upper price band. This positive market sentiment is a testament to the company's strong financial performance and its future prospects.


Conclusion

TBO Tek Limited's financial performance over the past three years paints a picture of a company that is not only surviving but thriving in a competitive industry. With its strategic focus on growth, profitability, and market expansion, TBO Tek is well-positioned to continue its upward trajectory in the years to come. Investors and stakeholders alike will be watching closely as the company embarks on its next phase of development with the public offering.


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