Produced by: Pawan Kumar Nahar
The initial public offering (IPO) on TBO Tek opens today on May 8 and can be subscribed till Friday, May 10. The company is offering its shares in the range of Rs 875-920 apiece, with a lot size of 16 equity shares and its multiples thereafter
TBO Tek is looking to raise a total of Rs 1,550.81 crore via IPO including a fresh share sale of Rs 400 crore and offer for sale (OFS) of up to 1,25,08,797 equity shares. TBO Tek raised Rs 696.51 crore via anchor book.
TBO Tek has reserved shares worth Rs 3 crore for its eligible employees. Of the net offer, 75% shares are reserved for the qualified institutional bidders (QIBs), 15% per for non-institutional investors (NIIs) and 10% for the retail investors.
On the first day of the bidding, shares of TBO Tek were commanding a grey market premium (GMP) of Rs 530-550 apiece, suggesting a listing gain of 57-60% to the investors on the upper end of the price band.
TBO Tek is likely to finalize the basis of allotment of its shares on Monday, May 13. The company will make its Dalal Street debut on Wednesday, May 15 on both BSE and NSE.
Axis Capital, Goldman Sachs (India) Securities, JM Financial and Jefferies India are the book running lead managers of the TBO Tek IPO, while Kfin Technologies is the registrar for the issue.
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