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TBO Tek raises 696.5cr from anchor investors ahead of IPO launch

Ahead of its IPO that opens today, B2B travel portal Travel Boutique Online i.e. TBO Tek has raised INR 696.5 crore from 47 anchor investors. The start-up has allocated 45.7 Lakh shares to its anchor investors.

“The IPO committee of the Board of Directors… has finalised allocation of 7,570,807 equity shares to anchor investors at the anchor investor allocation price of INR 920 per equity share (including share premium of ₹919 per Equity Share)…,” the company said in a BSE filing.

The anchor round saw participation from names such as Abu Dhabi Investment Authority (ADIA), Government Pension Fund of Norway, ICICI Prudential Mutual Fund, Kotak Mahindra Mutual Fund, Neuberger Berman, Tata Digital, Nippon Mutual Fund, Nomura, and SBI Mutual Fund, among others.

Other anchor investors include Blackrock, Axis Mutual Fund, Fidelity, Franklin India, Goldman Sachs, HSBC Global Investments, Invesco, Mirae Asset, etc.

Of the total, 31.55 Lakh (42%) shares worth INR 290 crore were allocated to 14 domestic mutual funds through 26 schemes.
TBO Tek is looking to raise about INR 1,551 crore via the public listing on the upper end of the spectrum. The B2B travel portal has set a price band of INR 875-INR 920 a piece for its public issue. The IPO will open today, and conclude on May 10. (Source: Inc.42)

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