TBO Tek slips 6% after nearly 7% equity change hands via block deals on BSE

At 09:15 AM, as many as 7.29 million shares, representing 6.7 per cent of total equity of TBO Tek, changed hands on the BSE, exchange data shows

Shares of TBO Tek slipped 6 per cent to Rs 1,200 on the BSE in Friday’s intraday trade after nearly 7 per cent equity of the global travel distribution platform company changed hands via block deals. 

 

The TBO Tek stock has corrected 40 per cent from its 52-week high level of Rs 2,000 touched on September 4, 2024. It had hit a 52-week low of Rs 1,138.75 on March 3, 2025.

 

At 09:15 AM; as many as 7.29 million shares, representing 6.7 per cent of the total equity of TBO Tek, changed hands on the BSE, exchange data shows. The names of the buyers and sellers could not be ascertained immediately.

 

According to reports, Augusta TBO Singapore Pte Ltd and TBO Korea Holdings Ltd are looking to offload up to a 3.1 per cent stake. The offer floor price has been set at Rs 1,180 per share, reflecting a 7 per cent discount to Thursday’s closing market price, the report suggested.  ALSO READ | Stock Market LIVE: Sensex 170 pts higher at 76,500; Nifty at 23,250; Pharma, Health gain

 

As on December 31, 2024, Augusta TBO Singapore Pte Ltd (9.71 per cent) and TBO Korea Holdings Ltd (5.50 per cent) have collectively held a 15.21 per cent stake in TBO Tek, the shareholding pattern data shows.

 

At 09:45 AM, the stock was trading 4.5 per cent lower at Rs 1,212.55 on the BSE. In comparison, the BSE Sensex was up 0.34 per cent at 76,606. 

 

TBO Tek made its stock market debut on May 15, 2024. The company allotted equity shares in initial public offer (IPO) at an issue price of Rs 920 per share.

 

The TBO platform connects around 185K Buyers across more than 150 countries with over one million Suppliers. TBO simplifies the business of travel for suppliers such as hotels, airlines, car rentals, transfers, cruises, insurance, rail and others, and retail buyers such as travel agencies and independent travel advisors; and enterprise buyers that include tour operators, travel management companies, online travel companies, super-apps and loyalty apps through their two-sided technology platform that enables Suppliers and Buyers to transact seamlessly with each other.  ALSO READ | Ola Electric shares surge 5% after reassuring investors on 'strong' sales

 

Meanwhile, for the October to December quarter (Q3FY25), TBO Tek had reported a 2 per cent year-on-year (YoY) decline in consolidated profit after tax at Rs 50 crore, primarily due to Rs 12.5 crore Forex Loss triggered by the sharp movement in USD against other major currencies. However, the company’s revenue from operations jumped 29 per cent YoY at Rs 422 crore against Rs 327 crore in Q3FY24. Gross transaction volume (GTV) grew 26 per cent YoY at Rs 7,166 crore.