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<ul><li>TBO Tek is expected to announce its share <keyword id="19911164" type="General" weightage="20" keywordseo="allotment-status" source="keywords">allotment status</keyword> on Monday, May 13.Robust subscription</li><li>The shares of TBO Tek were subscribed 86.59 times.</li><li>The shares are expected to be listed on the stock exchanges on May 15.</li></ul> New Delhi-based TBO Tek, which is a travel distribution platform that offers travel inventory according to the needs of its customers is expected to announce the allotment status of its initial public offering (IPO) on Monday, May 13. The <keyword id="12814675" type="General" weightage="20" keywordseo="TBO-Tek-IPO" source="Orion">TBO Tek IPO</keyword> opened on May 8 and closed on May 10. The price band for the IPO was ₹875 to ₹920 per share. <cmsannotation type="cmsannotation" annotationid="Robust subscription" comment="subhead" text="Robust subscription">Robust subscription</cmsannotation> On its last day, the TBO Tek IPO was subscribed 86.59 times, receiving bids for 80.41 crore equity shares against 92.86 lakh shares on offer. While the qualified institutional buyer (QIB) portion was subscribed 125.51 times, the non-institutional investor's portion was subscribed 50.54 times. The retail portion witnessed decent participation and was subscribed 25.26 times. The employee portion was subscribed 17.36 times. <cmsannotation type="cmsannotation" annotationid="Grey market premium" comment="subhead" text="Grey market premium">Grey market premium</cmsannotation> The shares of TBO Tek are currently commanding a grey market premium (<keyword id="19931032" type="General" weightage="20" keywordseo="GMP" source="keywords">GMP</keyword>) of ₹550 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. <cmsannotation type="cmsannotation" annotationid="Here’s how to check the IPO’s allotment status" comment="subhead" text="Here’s how to check the IPO’s allotment status">Here’s how to check the IPO’s allotment status</cmsannotation> You can check the allotment status on the registrar’s website. <ul><li>To check the <keyword id="21577104" type="General" weightage="100" keywordseo="TBO-Tek-IPO-allotment" source="Orion">TBO Tek IPO allotment</keyword> status, visit the registrar’s website<a href="https://kosmic.kfintech.com/ipostatus/"> here</a>. </li><li>Click on ‘Company Selection’ and then select ‘TBO Tek’. </li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC. </li><li>Click on ‘Search’. </li></ul>You will be able to see your application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the TBO Tek IPO allotment status on the BSE and NSE websites. To check the allotment status on the BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>. </li><li>On the website, click on 'Equity' and then select ‘TBO Tek’ from the dropdown menu. </li><li>Now, enter your application number and PAN. </li><li>Click on 'Search'. </li></ul>You will be able to see the number of shares allotted to you. You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your allotment status on NSE. <cmsannotation type="cmsannotation" annotationid="TBO Tek listing date" comment="subhead" text="TBO Tek listing date">TBO Tek listing date</cmsannotation> The shares of TBO Tek will be listed on the stock exchanges on May 15. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-market-up-8-5g-smartphones-account-for-over-70-of-shipments/articleshow/110002512.cms">Indian smartphone market up 8%, 5G smartphones account for over 70% of shipments</a> <a href="https://www.businessinsider.in/sports/webstories/ipl-decoded-highest-individual-scores-in-ipl-2024-so-far-from-stoinis-to-kohli/slidelist/110008351.cms">IPL Decoded: Highest individual scores in IPL 2024 so far, from Stoinis to Kohli</a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-and-samsung-dominate-the-top-selling-smartphones-in-q1-2024/slidelist/109977094.cms">Apple and Samsung dominate the top-selling smartphones in Q1 2024</a>

TBO Tek IPO allotment – How to check allotment, GMP, listing date and more

Travel distribution firm <keyword id="19235970" type="General" weightage="50" keywordseo="tbo-tek-ltd" source="Orion">TBO Tek Ltd</keyword> has filed fresh preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (<keyword id="6354763" type="General" weightage="80" keywordseo="ipo" source="Orion">IPO</keyword>). The maiden public issue comprises a fresh issue of equity shares aggregating up to Rs 400 crore and an offer-for-sale of up to 15,635,996 equity shares by promoters and investors, according to the draft red herring prospectus (DRHP) filed on Wednesday. Those selling shares in the <keyword id="883402" type="General" weightage="50" keywordseo="ofs" source="Orion">OFS</keyword> are promoters -- Gaurav Bhatnagar, <keyword id="2222661" type="General" weightage="50" keywordseo="manish-dhingra" source="Orion">Manish Dhingra</keyword> and LAP Travel -- and investors -- <keyword id="19441773" type="General" weightage="50" keywordseo="tbo-korea" source="Orion">TBO Korea</keyword> and Augusta <keyword id="2900872" type="General" weightage="100" keywordseo="tbo" source="Orion">TBO</keyword>. Proceeds from the fresh issue will be used for growth and strengthening of the platform by adding new buyers and suppliers, unidentified inorganic acquisitions, besides, a portion will be used for general corporate purposes. Before this, the company had filed draft papers with Sebi in December 2021 to float Rs 2,100 crore initial share-sale. However, the company didn't launch the IPO. <keyword id="12814674" type="General" weightage="80" keywordseo="tbo-tek" source="Orion">TBO Tek</keyword> is a leading travel distribution platform in the global travel and tourism industry providing services to buyers and suppliers in over 100 countries as of June 30, 2023. The company offers over 7,500 destinations and facilitates 33,000 bookings per day through their platform. In October, investment firm General Atlantic announced that it would acquire a minority stake in TBO. Axis Capital Ltd, Goldman Sachs (India) Securities Private Ltd, Jefferies India Private Ltd and JM Financial Ltd are the book-running lead managers of the issue. The equity shares will be listed on the BSE and NSE. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/multilingual-global-office-calls-might-soon-become-easier-with-ai-live-translate-call/articleshow/105087029.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/multilingual-global-office-calls-might-soon-become-easier-with-ai-live-translate-call/articleshow/105087029.cms" target="_blank">Multilingual global office calls might soon become easier with AI Live Translate Call</a><a href="https://www.businessinsider.in/stock-market/news/esaf-small-finance-bank-ipo-how-to-check-allotment-status-and-gmp-value/articleshow/105065641.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/esaf-small-finance-bank-ipo-how-to-check-allotment-status-and-gmp-value/articleshow/105065641.cms" target="_blank">ESAF Small Finance Bank IPO allotment – how to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/business/auto/webstories/six-out-of-the-top-ten-most-selling-cars-in-india-in-october-are-from-maruti-suzuki/slidelist/105063023.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/six-out-of-the-top-ten-most-selling-cars-in-india-in-october-are-from-maruti-suzuki/slidelist/105063023.cms" target="_blank">Six out of the top ten most selling cars in India in October are from Maruti Suzuki</a>

TBO Tek files IPO papers with Sebi again

According to the recent filing made by Nasdaq-listed firm, <keyword id="54613" type="COMPANY" weightage="20" keywordseo="makemytrip">MakeMyTrip</keyword> will be issuing shares worth around $960 million for the acquisition of rival portal <keyword id="119765" type="COMPANY" weightage="100" keywordseo="Ibibo">ibibo</keyword> Group. 
 Ibibo Group Holding will also be cutting off its 14% stake in <keyword id="6356837" type="COMPANY" weightage="20" keywordseo="Naspers">Naspers</keyword>' payments business PayU and 52% in business-tobusiness (B2B) online travel company <keyword id="3567866" type="COMPANY" weightage="20" keywordseo="Tek-Travels">Tek Travels</keyword> before the transaction ends, with MakeMyTrip entitled to a payout on these assets in five years. 
 
Ibibo group is mostly owned by South African media and internet giant Naspers (nearly 90%), with the remaining held by Chinese internet giant Tencent and management. 
 
These shareholders will be given 38.97 million shares, or a 40% stake, of MakeMyTrip as a part of the all-stock deal with Naspers cornering a third of the combined entity. 
 
The combined entity is expected to be valued over $2.2 billion. MakeMyTrip has already called in a meeting for approval of the transaction from its shareholders. 
 
In the quarters ending June and September 2016, MakeMyTrip continued the pace discounts and marketing expenditure spending a combined $100 million before announcing the deal to acquire ibibo. 
 But MakeMyTrip does not see this spending coming down, as it looks to increase penetration of online hotel booking increasing from 12-15% right now to 35-40% in the next two-three years, CEO <keyword id="368700" type="PERSON" weightage="20" keywordseo="Rajesh-Magow">Rajesh Magow</keyword> told ET in October. 
 
The acquisition will be adding more cash to MakeMyTrip's balance sheet, as ibibo shareholders Naspers and Tencent are expected to "contribute proportionate working capital upon the closing of the transaction., MakeMyTrip had cash of $167.2 million at the end of September.

MakeMyTrip to issue $960m worth shares to acquire Ibibo group

<ul><li>The government has announced the resumption of all international scheduled commercial flights that were banned because of COVID-19 from March 27.</li><li>Following the development, shares of the airline companies flew high as now the airlines will be able to operate with almost full capacity.</li><li>This may result in lowering of airfares on some international routes.</li></ul>After two long years of COVID-19 restrictions, the Indian government has finally lifted the ban on all <keyword id="131277" type="General" weightage="20" keywordseo="international-flights" source="Orion">international flights</keyword> relieving airline companies to now work with full capacity. Flights will resume, like the pre-pandemic period, from March 27. Scheduled international flight services were suspended in March 2020 due to the pandemic. However, special flights have been operating between India and 37 countries since July 2020 under air bubble arrangements. “After having recognised the increased vaccination coverage across the globe and in consultation with the stakeholders, the Government of India has decided to resume scheduled commercial international passenger services to/from India from 27.03.2022, i.e. start of Summer Schedule 2022," read a statement from the Ministry of Civil Aviation. The development has come as good news for airline companies that were losing out on revenues because of restricted operations of flights. Shares of publicly listed airlines Indigo and SpiceJet surged more than 5% each on Wednesday on the excitement. This comes as relief for the sector that is reeling from high fuel prices for the aircraft and restricted travel across the world. <div type="image" title="indigo chart" height="900" width="1200" msid="90094145" hostid="261"></div>"This is great news for all travelers and the industry, especially before the peak summer season. The demand for international travel is picking up in India and there has been a significant uptick in travel search queries for popular international destinations like Australia, Sri Lanka, US &amp; UK. Travel search queries from India for Australian cities like Melbourne, Adelaide and Sydney have jumped 15-20% this month. We are seeing a trend of travelers now eager to book long-haul destinations, fuelled by international borders reopening and relaxation of rules across the globe. Resumption of international commercial flights will also regularise the demand-supply balance resulting in lower international airfares,” said Aloke Bajpai, co-founder and group CEO of ixigo. <div type="image" title="spicejet chart 2" height="900" width="1200" msid="90094161" hostid="261"></div>“...announcement to resume international passenger flights is a welcome move for domestic and international travellers who have been waiting for a long time to make travel plans. We are pleased that these measures will once again give a big boost to foreign tourism in the country,” said Ankush Nijhawan, joint managing director, TBO TEK, an online travel agency. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/lic-ipo-lic-receives-sebi-nod-for-ipo-to-sell-31-crore-shares-but-ipo-dates-not-determined-yet/articleshow/90092039.cms">LIC receives SEBI nod for IPO to sell 31 crore shares but IPO dates not determined yet</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/what-is-digisaathi-that-indias-central-bank-has-been-vouching-for/articleshow/90077221.cms">EXPLAINED: What is DigiSaathi and how it can help you with digital payments</a>

Indigo, SpiceJet stocks takeoff as regular international flights to resume after two years

A new menswear company is creating a line of suits, shirts, and ties that are all water-repellent and spill-resistant.
Called <a href="http://www.vardama.com/">Vardama</a>, the company has been developing for the past two years as Jorge Vega Umana and Kaustubh Varma worked to perfect a special compound that would not only allow their designs to be water-repellent, but also make them feel breathable and soft for customers. <a href="http://www.vardama.com/"> </a>
"The idea came to me while on a family trip in India," Varma explained to Business Insider. "I was stuck in my hotel room due to the rain. Looking out of the window I was admiring the way the leaves on a nearby plant were keeping itself dry and clean. I thought to myself - what if my clothes were self-cleaning?"&#xa0;
After over 100 different prototypes, experiments, and products, Varma and Umana finally discovered the answer. They call their invention Equa-Tek™ and say that it treats the individual fibers at a "microscopic level" to make them water-resistant - whether the fabric is silk, Egyptian cotton, or wool.
This allows things like coffee, wine, and water to be repelled from the fabric (you can see videos of it on <a href="https://www.youtube.com/user/VardamaOfficial/videos%20">their YouTube channel</a>). It also makes the fabric less susceptible to visible staining due to perspiration, according to Vardama.<a href="https://www.youtube.com/user/VardamaOfficial/videos"> </a>
Washing isn't an issue either - the shirts can be machine washed or dry cleaned, and suits and neckties are dry clean only, much like your regular work wear.
"We researched several different compounds and many types of application processes to find the best solution for our customer and for the brand," Varma explained to Business Insider. "Part of the amazing journey of Vardama has been the travel and great partners we have made through developing Equa-Tek including researchers, manufacturers, scientists and other fashion brands across the globe."
The first collection for Vardama launched this past December with prices ranging from <a href="http://www.vardama.com/collections/shirts">$125 to $155 for shirts</a>, <a href="http://www.vardama.com/collections/suits">$695 to $1,800 for suits</a>, and <a href="http://www.vardama.com/collections/neckties">$49 to $89 for neckties</a>.
The brand was also featured in Mercedes Benz New York Fashion Week during the Fall, and hope to expand into womenswear, kids clothing, work wear, and more.

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