The TBO Tek IPO was opened for public subscription on Wednesday.
The retail category has received 24.70 times subscription, while the non-institutional investor (NII) category got 50.41 times subscriptions. The qualified institutional buyers (QIBs) has got just 125.51 times subscription.
The share allotment will be finalised on May 13, while the listing will occur on May 15 on both NSE and BSE.
The price band of the TBO Tek IPO was fixed at Rs 875-Rs 920 per share.
TBO Tek Limited, founded in 2006, is a travel distribution platform that offers travel inventory according to the needs of its customers and supports a wide range of currencies along with forex help. It was earlier known as Tek Travels Private Ltd.
TBO Tek IPO GMP Today
According to market observers, unlisted shares of TBO Tek Ltd are trading Rs 535 higher in the grey market as compared with its issue price. The Rs 535 grey market premium or GMP means the grey market is expecting a whopping 58.15 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
