Produced by: Pawan Kumar Nahar
IPO Dates: May 8-10 Price Band: Rs 875-920 Lot size: 16 shares Issue size: 1,550.8 crore
Brokerage firms including Canara Bank, Motilal Oswal, Indsec Research, Marwadi Financial Services, Nirmal Bank, SMIFS, Anand Rathi, Arihant Capital Markets, Swastika Investmart and Ventura Securities have suggested to subscribe to the issue.
Other brokerages including SMC Global and Sushil Finance have remained mostly neutral on the issue. However, their view is positive on the issue but have some concerns on the valuations and OFS size of the IPO.
TBO Tek is currently commanding a grey market premium of Rs 550-560 apiece, suggesting a listing pop of around 60 per cent for the investors over the upper end of the price band.
Axis Capital, JM Financial, Goldman Sachs (India) Securities and Jefferies India are the book running lead managers of the TBO Tek IPO, while Kfin Technologies is the registrar for the issue.
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. 75% shares are reserved for the qualified institutional bidders (QIBs), 15% per for non-institutional investors (NIIs) and 10% for the retail investors.
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