Tag Archives: Investor

TBO Tek’s IPO fully subscribed

The initial public offering (IPO) of TBO Tek Limited was fully subscribed yesterday.

The IPO received an overall subscription of 1.17 times. The retail category saw a subscription of 3.23 times, while the Qualified Institutional Buyer (QIB) category was subscribed only 0.01 times, and the Non-Institutional Investor (NII) category was subscribed 2.09 times as of 6 PM.

The public issue offered 92,85,816 shares for subscription but received bids for 1,08,37,808 on its first day.
Potential investors can subscribe to the issue until May 10 and will need to bid for 16 shares in one lot and in multiples thereafter.

The IPO’s price band is fixed at INR 875-920 per share. The basis of allotment will be decided by May 13, with the company making its stock exchange debut on May 15.

The IPO’s grey market premium (GMP) stands at INR 540 as of May 8, 2024, at 8:59 AM.

Based on the upper price band of INR 920 per share, the estimated listing price is projected to be INR 1460, indicating a potential gain of 58.70% per share. (Source: Moneycontrol0

 

Yatra to open its IPO on September 15

The initial share sale of travel service provider Yatra Online Ltd will open for public subscription on Friday September 15.

The three-day Initial Public Offering (IPO) will conclude on September 20 and the bidding for anchor investors will open on September 14 and for retail on September 15, according to the Red Herring Prospectus (RHP) filed on Friday.

The online travel company had raised INR 62 crore from a rights issue and allotted 26.27 lakh shares at a price of INR 236 per share, which was a part of pre-IPO placement.

Hence, the size of the fresh issue of INR 750 crore has been reduced by INR 148 crore, including the pre-IPO placement of INR 62.01 crore, and accordingly, the fresh issue is INR 602 crore.

The company has revised its Offer For Sale (OFS) component from 93.28 lakh equity shares to 1.22 crore equity shares after its promoter, THCL Travel Holding Cyprus Ltd offloading more shares in the issue.

The OFS now comprises up to 1.17 crore equity shares by THCL Travel Holding Cyprus Ltd and up to 4.31 lakh shares by investor Pandara Trust – Scheme I, represented by its trustee Vistra ITCL (India) Ltd, as per the RHP.
Proceeds from the fresh issue worth up to INR 150 crore will be utilised towards strategic investments, acquisitions and inorganic growth and up to INR 392 crore towards investment in customer acquisition and retention, technology, and other organic growth initiatives.

 

Ministry of Tourism to organise first Global Tourism Investors’ Summit from May 17-19

Ministry of Tourism organised a roundtable interaction with heads of mission in New Delhi as a run-up to the first Global Tourism Investor’s Summit.

As an initiative under India’s G20 Presidency, the Ministry of Tourism, Government of India shall be organising the country’s first Global Tourism Investors’ Summit (GTIS) in Delhi from May 17-19.

The Roundtable Interaction with Heads of Missions was chaired by G. Kishan Reddy, Minister of Tourism, Culture and DONER.

While addressing the Heads of the Missions at Vigyan Bhawan, Reddy remarked that guided by the vision of Prime Minister Narendra Modi, tourism development and promotion is being undertaken in Mission Mode by the Government. He also stated that the current investment landscape of the country makes it an appropriate destination for investment in various sub-sectors of the Indian tourism industry such as Hospitality and Lodging, Wellness tourism, Adventure tourism, Eco-Tourism, Rural Tourism and others. The Minister thanked all the participating Missions for attending the Roundtable Interaction and invited them to actively participate in the forthcoming Investors Summit and be a part of India’s growth and development in the tourism sector.

Arvind Singh, Secretary, Ministry of Tourism mentioned that in order to showcase investible opportunities to investors, till now 25 states have shared 350 plus investable projects with a total investment potential of around INR 64,000 Cr. (USD 7.7 billion) with the Ministry of Tourism. He stated that GTIS will also have several knowledge sessions focused on topics such as sustainability, digitalisation, technology, insights, state-specific issues, and other sub-sectors of tourism. These sessions will facilitate business-to-business (B2B) and business-to-government (B2G) engagements.

K B Kachru, Member, CII National Committee on Tourism and Hospitality stated that GTIS is the right platform for all the tourism and hospitality industries operating outside India to come, witness the huge Indian market, and leverage the available investment opportunities.

A total of 42 Foreign Missions participated in the Interaction. The G-20 Presidency will give India’s tourism sector an unparalleled opportunity to highlight India’s tourism offerings and share India’s tourism success stories on a global stage. India’s tourism market is set for a growth trajectory due to improved infrastructure, global connectivity, higher disposable incomes and the development of niche tourism products opening opportunities for foreign investors. (Source: The Print)