TBO Tek seeks Sebi approval for Rs 2,100 crore IPO

Travel services provider TBO Tek Ltd. is seeking the approval of India’s market regulator to raise as much as Rs 2,100 crore ($280 million) through an initial public offering of shares, according to its draft prospectus.

Founders and investors will sell shares worth Rs 2,100 crore, while the company plans to raise Rs 900 crore through the sale of new stock. It also plans to raise Rs 1,800 crore through a pre-IPO placement.

TBO designs and produces travel applications that allow users to search and book tickets, make online reservations including for hotel rooms through the internet.


Axis Capital, Credit Suisse, Jefferies India and JM Financial Ltd. are managing the issue.