TBO Group, a leading travel distribution platform, has successfully mobilised ₹696.51 crore through its anchor book allocation, attracting a diverse group of global investors and domestic mutual funds. The company allocated 75,70,807 equity shares to anchor investors at ₹920 per share, with notable participants including Abu Dhabi Investment Authority, Blackrock Global Funds, and Kotak Mahindra Trustee, among others.
With a lot size of 16 shares, retail investors will need a minimum investment of ₹14,720 for one lot. TBO has reserved 75% of the issue for qualified institutional buyers, 15% for non-institutional investors, and 10% for retail investors. The capital raised will be used for expanding the supplier and buyer base, adding new lines of business, and pursuing inorganic growth through acquisitions.
Founded in 2006, TBO has a strong presence in over 100 countries and facilitates connections between buyers and suppliers in the travel industry. The company aims to leverage data to provide tailored travel solutions to its clients.
In other news, Aadhar Housing Finance, backed by Blackstone Group, is set to raise ₹3,000 crore through an IPO, with a price band of ₹300-315 per share. The IPO, which opens for subscription from May 8 to May 10, includes a fresh issue of shares and an offer for sale by the promoter. The Mumbai-based housing finance company is expected to be valued at around ₹13,000 crore at the upper end of the price band, with shares set to list on the BSE and NSE on May 15.