The global travel and tourism industry was severely affected by the COVID-19 pandemic and its contribution to GDP declined by about 49% in fiscal 2020 from US$ 4.7 trillion in 2019.<\/p>\n\n\n\n
Helped by the widespread vaccination drive taking place in India, the country\u2019s tourism sector is predicted to grow at a compound annual rate of 6.9% to $460 billion by 2028, contributing around 9.9% to GDP.<\/p>\n\n\n\n
TBO Tek Limited recently submitted draft papers with the Securities and Exchange Board of India, seeking approval to raise \u20b92,100 crores through an initial public offering.<\/p>\n\n\n\n
The company\u2019s founders and investors plan to offer shares worth \u20b92,100 crores, comprising a fresh issue of shares of face value \u20b91 aggregating up to \u20b9900 crores and an offer for sale of shares worth \u20b91,200 crores. It also plans to raise \u20b91,800 crores through a pre-IPO placement. The company will reduce the issue size if the pre-placement is successful.<\/p>\n\n\n\n
TBO Tek plans to utilize \u20b9570 crores from the net proceeds for strengthening its new platform by adding new buyers and sellers. The company will also deploy \u20b990 crores for strategic acquisitions and investments. The remaining amount will be used for general corporate purposes.<\/p>\n\n\n\n
TBO Tek is one of the largest global travel distribution platforms. The company designs and produces travel applications that allow users to search and book tickets, make online reservations including hotel booking through the internet.<\/p>\n\n\n\n
The New Delhi-based company\u2019s online platform allows suppliers to display and market inventory, and set prices for the global buyer base. For buyers, it is an integrated, multi-currency, multi-lingual platform that helps them discover and book travel for destinations worldwide.<\/p>\n\n\n\n
TBO Tek had total revenue of \u20b9176 crores in the year ended March 2021, compared to \u20b9588 crores in the previous year. The company suffered a net loss of \u20b934.1 crores, versus a profit of \u20b972.9 crores in the prior year.<\/p>\n\n\n\n
TBO Tek derives a significant portion of its revenue from international travel and tourism. The pandemic-related restrictions have wreaked havoc in the travel and tourism industry. The other key headwinds facing the industry are non-availability and high cost of consumer finance, high interest\/exchange rates, and fuel prices, unemployment, and elevated travel cost.<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
The global travel and tourism industry was severely affected by the COVID-19 pandemic and its contribution to GDP declined by about 49% in fiscal 2020 from US$ 4.7 trillion in 2019. Helped by the widespread vaccination drive taking place in India, the country\u2019s tourism sector is predicted to grow at a compound annual rate of […]<\/p>\n","protected":false},"author":1738,"featured_media":124093,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5748,12,10444],"tags":[9797,9796,8240],"class_list":["post-126210","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo","category-other-industries","category-others","tag-tourism","tag-travel","tag-travel-services"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":125951,"url":"https:\/\/alphastreet.com\/india\/ipo-alert-delhivery-files-papers-with-sebi-to-go-public\/","url_meta":{"origin":126210,"position":0},"title":"IPO Alert: Delhivery files papers with SEBI to go public","author":"Nishad","date":"November 17, 2021","format":false,"excerpt":"The Indian logistics market is one of the largest in the world and presents a large addressable opportunity, with direct spending of around $216 billion in Fiscal 2020. 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