Leading global travel distribution platform, TBO.com has sought the approval of India’s market regulator, SEBI to raise Rs 2,100 crore through an initial public offering (IPO).
The IPO consists of a fresh issue of Rs 900 crore and an offer for sale (OFS) of Rs 1,200 crore by its existing shareholders and promoters.
The proceeds from the fresh issue will be used for the company’s growth, strengthening of its platform by adding new buyers and suppliers, for strategic acquisitions and investments towards inorganic growth, said a press release issued on the company’s behalf.
Axis Capital, Credit Suisse Securities India, Jefferies India, and JM Financials are the book running lead managers to the issue.
TBO is a global travel technology company focused on providing a range of travel services to its buyers (travel agents, TMCs, Super Apps and tour operators) across the world. The company has also constituted a stellar board of independent directors.