Investors subscribe TBO Tek IPO 1.15 times on first day of subscription
The initial public offer of travel distribution firm TBO Tek got subscribed 1.15 times on the first day of bidding on Wednesday. The Rs 1,551 crore IPO received bids for 1,06,50,112 shares against 92,85,816 shares on offer, according to data available with the NSE. The category for Retail Individual Investors (RIIs) got subscribed 3.13 times while the portion for non-institutional investors received 2.08 times subscription. The quota for Qualified Institutional Buyers (QIBs) got 1 per cent subscription. The Initial Public Offer (IPO) has a fresh issue of up to Rs 400 crore and an offer for sale of up to 1,25,08,797 equity shares. Those selling shares in the OFS are promoters Gaurav Bhatnagar, Manish Dhingra and LAP Travel, and investors TBO Korea and Augusta TBO. The price range for the offer is Rs 875-920 per share. TBO Tek on Tuesday said it has collected a little over Rs 696 crore from anchor investors. Proceeds from the fresh issue will be used for the growth and strengtheni
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