TBO Tek drops after block deal

TBO Tek fell 3.29% to Rs 1530.70 after the conuter witnessed large block deal in early trade today.

On the BSE, 67.45 lakh shares traded in the counter as against an average trading volume of 2,256 shares traded in the past three months.

On the NSE, 8.59 lakh shares traded in the counter as against an average trading volume 71,174 shares traded in the past three months.

Around 64.34 lakh shares, which represents 5.92% equity stake in the firm, worth Rs 951 crore were exchanged at the price of Rs 1,476 per share.

Shares of TBO Tek entered the bourses on 15 May 2024. It was listed at Rs 1,380, a 50% premium to the issue price of Rs 920.

TBO Tek's IPO was subscribed 86.70 times. The issue was open between 8 and 10 May 2024. The price band of the IPO was set at Rs 875 to Rs 920 per share.

TBO Tek is a travel technology platform that connects travel suppliers (hotels, airlines, etc.) with travel buyers (agencies, tour operators, etc.) globally. It simplifies the process of booking and selling travel products by providing a unified platform for both suppliers and buyers. The platform offers features like multi-currency, multi-lingual support, and a wide range of travel products.

On a consolidated basis, TBO Tek's net profit rose 6.60% to Rs 60.09 crore while net sales rose 27.92% to Rs 450.69 crore in Q2 September 2024 over Q2 September 2023.

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