Liquidity Events
Affirma Capital sells 2.04% stake in B2B travel services co. TBO Tek for Rs.328-Cr
Affirma Capital, via Augusta TBO (Singapore), has realised INR 327.5 crore through the sale of a 2.04% stake (21.8 lakh shares) in Gurugram-based, listed travel technology company TBO Tek via open-market operations. Following this sale, the investor’s shareholding in TBO Tek has decreased from 5.54% to 3.5%.Founded in 2006 by Ankush Nijhawan and Gaurav Bhatnagar, TBO Tek provides a range of travel services to tour operators and travel agents, including flight and hotel bookings, insurance, and car rentals. The company reported a consolidated net profit of INR 244.3 crore for the full fiscal year 2026, while operating revenue reached INR 2,677.4 crore.
Affirma Capital first invested in Travel Boutique Online in Jul 2018. The company went public in May 2024, as part of which, Affirma Capital had made a part exit. It subsequently sold shares on Dec-24 and Mar-25.For FY25, Travel Boutique Online had reported about INR 1,737 Cr in Operating Income and about INR 230 Cr in PAT.
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