🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Related News

TBO Tek to acquire US-based Classic Vacations for $125 Mn

EntrackrEntrackr · 1d ago
TBO Tek to acquire US-based Classic Vacations for $125 Mn
Medial

TBO Tek to acquire US-based Classic Vacations for $125 Mn Travel distribution platform TBO Tek Limited has announced that its step-down subsidiary TBO LLC will acquire Classic Vacations LLC, a US-based luxury travel company, for up to $125 million in an all-cash deal. According to regulatory filings, TBO Tek will extend an inter-corporate loan of up to Rs 350 crore ($40 million) to its wholly owned subsidiary Tek Travels DMCC, which will support funding for the acquisition. The company has also approved the issuance of a letter of comfort and corporate guarantee in favour of Catalyst Trusteeship, backing credit facilities of up to $70 million from Standard Chartered Bank to TBO LLC. Classic Vacations, founded in 2005, operates in the luxury tours and travel segment across the United States. It reported net sales of $111 million in 2024 and has a strong network of high-value travel advisors, deep ties with US consortia, and access to premium travel supply. TBO Tek said the acquisition is part of its global expansion strategy to strengthen its presence in the US luxury travel market. Post-acquisition, Classic Vacations will become a wholly owned subsidiary of TBO LLC and a material step-down subsidiary of TBO Tek. The deal is expected to close in the first week of October 2025, subject to customary closing conditions. TBO Tek’s operating revenue increased by 22% to Rs 511 crore in Q1 FY26 from Rs 418 crore in Q1 FY25. During the period, it posted a marginal 3% increase in its profits to Rs 63 crore.

JM Financial initiates buy rating on TBO Tek; estimates Rs 465 Cr revenue in Q4 FY25

EntrackrEntrackr · 4m ago
JM Financial initiates buy rating on TBO Tek; estimates Rs 465 Cr revenue in Q4 FY25
Medial

JM Financial initiates buy rating on TBO Tek; estimates Rs 465 Cr revenue in Q4 FY25 JM Financial Institutional Securities has reiterated its Buy rating on TBO Tek, setting a target price of Rs 1,400. This implies a potential upside of 31.5% from the current market price of Rs 1,065 per share. According to JM Financial, TBO Tek’s revenue from operations will see a 25.8% year-on-year growth to Rs 464.5 crore in Q4 FY25, compared to Rs 369.1 crore in the same quarter the previous fiscal year (Q4 FY24). Revenue from hotel and package bookings is expected to contribute 78.7% of TBO’s total income, rising 34.6% year-on-year to Rs 365.9 crore in Q4 FY25 from Rs 271.8 crore in Q3 FY24. Meanwhile, income from air ticketing and other allied services is projected to add Rs 86.9 crore and Rs 11.6 crore, respectively, to the company’s topline. TBO’s gross profit margin is projected to rise to 70.3% in Q4 FY25, up from 68% in Q4 FY24. Moreover, its profit after tax is expected to see a modest year-on-year growth of 1.28%, reaching Rs 47.2 crore in Q4 FY25, compared to Rs 46.6 crore in the same quarter last year. On a sequential basis, the company is expected to end the previous fiscal year (FY25) with a revenue of Rs 1755.8 crore and a profit of Rs 214.5 crore. TBO Tek ended the day at Rs 1,065.5 on April 8, with a market capitalization of Rs 11,570 crore (approximately $1.36 billion). Notably, the stock had touched its 52-week low just a day earlier, on April 7, 2025.

Download the medial app to read full posts, comements and news.