Private Equity

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B2B travel services firm TBO Tek’s Rs.1,551-Cr IPO closes with 86.7x subscription

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The IPO of B2B travel portal Travel Boutique Online (TBO Tek) was subscribed 86.7X. The public issue received bids for 80.5 crore shares as against 92.85 lakh shares on offer.The issue comprised a fresh issue of shares of INR 400 crore and an offer for sale (OFS) component of 1.25 crore equity shares. The price band was set at INR 875-920 per equity share. The company will raise INR 1,551 crore from the IPO at the upper end of the price band.

PE investors in Travel Boutique Online include Affirma Capital and General Atlantic.