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SEBI gives not to TBO Tek, Awfis Space for IPO

TBO Tek Ltd and Awfis Space Solutions Ltd have received Securities Exchange Board of India’s (SEBI) approval to raise funds via initial public offering (IPO).

TBO Tek filed draft papers with SEBI in November 2023 while Awfis Space Solutions submitted its DRHP in December 2023.

For TBO Tek Ltd, the IPO includes a fresh issuance of shares worth INR 400 crore by the company itself, along with an offer-for-sale (OFS) of 1.56 crore equity shares by promoters and investors.

The selling shareholders in the OFS include promoters Gaurav Bhatnagar, Manish Dhingra, LAP Travel, as well as investors TBO Korea and Augusta TBO. Axis Capital, Goldman Sachs (India), JM Financial, and Jefferies India are serving as the book-running lead managers, while KFin Technologies is acting as the registrar to the offer.

On the other hand, Awfis Space Solutions Ltd’s IPO comprises a fresh issue of INR 160 crore and an offer-for-sale of up to 10.02 million shares by its existing shareholders and promoters.


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