Skift Take
Will TBO go into wait-and-watch mode like Oyo or Ixigo, or will it launch an IPO soon enough?
Travel distribution platform TBO Tek has received the final nod from the Securities Exchange Board of India (SEBI) to raise funds through an IPO.
The issue includes fresh equity of INR 4 billion ($48 million) and an offer for sale of up to 15.6 million shares by its promoters and investors. The company had filed a draft prospectus last November.
TBO had filed draft papers with SEBI in December 2021 – but the IPO didn't happen.
"Our objective is to aggregate world's offline travel demand into a single place and offer it as a distribution channel to the global travel supply. Our focus is outbound travel as that's where the friction exists," co-founder and joint managing director of TBO, Gaurav Bhatnagar,