Comments
Travel services provider TBO Tek Ltd. is seeking the approval of India’s market regulator to raise as much as $280 million (Rs 2,100 crore) through an initial public offering (IPO) of shares, according to its draft prospectus.
Founders and investors will sell shares worth 12 billion rupees, while the company plans to raise Rs 900 crore through the sale of new stock. It also plans to raise Rs 180 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.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.