TBO Tek Has IPO Money Now, Acquisitions Could Come Next
Photo Caption: TBO co-founders and joint managing directors, Gaurav Bhatnagar (middle) and Ankush Nijhawan (left) with Skift CEO Rafat Ali at the Skift India Summit.
Skift Take
TBO Tek had a strong debut with its IPO, with plenty of interest in its shares. Now it needs to execute.
Travel distribution platform TBO Tek made its debut in the Indian stock exchanges Wednesday, and raised a little more than INR 15.5 billion ($180 million) from its IPO subscription last week.
One use of the funds may be acquisitions, the company's leaders told Skift.
“It's important, to always maintain a pipeline. However, acquisitions can be a huge hit and miss, so it's very hard to say. But we are actively evaluating,” said Gaurav Bhatnagar, co-founder and joint managing director of TBO.
TBO plans to allocate INR 400 million ($4.8 million) of its net proceeds in the IPO towards strategic acquisitions and/or investments.
In February 2
