Goldman Sachs, Nomura Funds, Norges Bank, and ValueQuest purchased shares of this recently listed company; do you own it?

The company’s stock debuted on the Indian market with a substantial premium of 55 per cent on the NSE.

TBO Tek Limited, formerly known as Tek Travels Private Limited, is a travel distribution platform providing customized travel inventory and comprehensive currency support, including forex assistance. It made its debut on the Indian stock market today.

The company's stock opened the day at Rs 1380 per share on the BSE, marking a remarkable 50 per cent premium over the final issue price of Rs 920 per share on the BSE, and eventually closed the day at Rs 1404.85 per share. The market capitalization on the BSE stands at approximately Rs 15,254.96 crore.

Today’s Bulk Deal

Goldman Sachs FDS India Portfolio fund bought 63.53 lakh shares at an average price of Rs 1411.35 per share. Nomura Funds Ireland PLC Equity Fund purchased 6 lakh shares at a price of Rs 1391.06 per share. Norges Bank, on behalf of the government pension fund global, acquired 8.68 lakh shares at an average price of Rs 1424.61 per share, while Valuequest Investment Advisors Private Limited purchased 5.93 lakh shares at an average price of Rs 1425.37 per share via bulk deal.

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Business Overview

Established in 2006, TBO Tek Limited, formerly known as Tek Travels Private Limited, is a travel distribution platform that offers travel inventory tailored to the needs of its customers and supports a wide range of currencies along with forex assistance. 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 its two-sided technology platform that enables suppliers and customers to connect seamlessly.

Other details

As of May 10, 2024, the TBO Tek IPO garnered a subscription rate of 86.69 times. The public issue witnessed subscription rates of 25.72 times in the retail category, 125.51 times in the QIB category, and 50.60 times in the NII category.

In FY23 the company’s revenue increased by 112.09 per cent and profit after tax (PAT) rose by 340.4 per cent. The company has not released its Quarterly Results for Q4 FY24.

The IPO price range was between Rs 875 and Rs 920, with a face value of Rs 1 per share and a lot size of 16 shares. The total size of the company's IPO amounted to Rs 1550.81 crore, with the final share issue price set at Rs 920 each.

Investors must keep this Small-Cap stock on their radar. It has great potential to deliver multibagger returns in the future.

Disclaimer: The article is for informational purposes only and not investment advice.