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TBO raises Rs 696 Cr from anchor investors

EntrackrEntrackr · 1y ago
TBO raises Rs 696 Cr from anchor investors
Medial

Online B2B travel distribution platform Travel Boutique Online (TBO) has offered Rs 696 crore worth of shares to anchor investors as part of its initial public offering. The board at TBO Tek has passed a resolution to offer 75,70,807 equity shares at an issue price of Rs 920 each to its anchor investors, its regulatory filing accessed from BSE (Bombay Stock Exchange) shows. ABU Dhabi Investment, ICICI Prudential, Kotak Mahindra Securities, Nippon Life, SBI Technology Opportunities, Axis Mutual Fund, Goldman Sachs, Aditya Birla, and Invesco India are some key anchor investors for the company. Out of the total allocation of 7,570,807 equity shares to the anchor investors, 3,155,236 equity shares were allocated to 14 domestic mutual funds through a total of 26 schemes, the filing further added. TBO has initiated its public offering from today (8th May-10th May) 2024 with a price band of Rs 875-920 with the minimum bid quantity of 16 shares. In the DRHP, the Gurugram-based firm had proposed to raise funds through the issue of equity shares of face value of Rs 1 each consisting of a fresh issue of equity shares aggregating up to Rs 400 crore and an offer for sale of up to 12,508,797 equity shares. As per the DRHP, Lap Travel controls the largest holding in the firm with a 25% stake followed by Augusta TBO which has a 24.32% stake in the company. Bhatnagar and Dhingra control 20% and 5.63% stake respectively. During the nine months (March 23- Dec 23) of FY24, TBO Tek recorded a consolidated revenue of Rs 1,023 crore with a profit of Rs 154 crore. Importantly, income from hotels and packages comprised 72% of its total revenue while collections from air ticketing contributed 25% of its revenue.

Unicommerce IPO sees 5.6X oversubscription from retail buyers

EntrackrEntrackr · 11m ago
Unicommerce IPO sees 5.6X oversubscription from retail buyers
Medial

The initial public offering of e-commerce SaaS platform Unicommerce was fully subscribed by retail investors within the first three hours of its opening. The Unicommerce IPO is scheduled from August 6 to 8, with a price band set at Rs 102-108 per share and a minimum lot size of 138 shares. To participate, investors must make a minimum investment of Rs 14,076. As of 3:11 PM (August 6), the retail portion in the Gurugram-based firm’s IPO has been oversubscribed by 5.58 times, while non-institutional investors have filled 82% of their allotted portion. The SoftBank-backed company also allocated Rs 124 crore or $15 million to its anchor investors yesterday. SBI, ICICI, Morgan Stanley, Nippon, Kotak, Aditya Birla, HDFC, and Franklin India are some key anchor investors for Unicommerce. The company demonstrated strong financial growth in the past two years as its revenue surged from Rs 59 crore in FY22 to Rs 104 crore in FY24. Significantly, the firm’s profit spiked over 2X in the same period.

SoftBank-backed Unicommerce secures $15 Mn from anchor investors

EntrackrEntrackr · 11m ago
SoftBank-backed Unicommerce secures $15 Mn from anchor investors
Medial

Unicommerce, an e-commerce SaaS platform, has allocated shares worth Rs 124.4 crore (around $15 million) to anchor investors ahead of its initial public offering (IPO). The board at Unicommerce has passed a resolution to offer 11,523,831 equity shares at an issue price of Rs 18 each (upper-band) to its anchor investors, its regulatory filing accessed from the Bombay Stock Exchange shows. SBI, ICICI, Morgan Stanley, Nippon, Kotak, Aditya Birla, HDFC, and Franklin India are some key anchor investors for Unicommerce. Out of the total issue, 75.75% of the total allocation was made to 8 domestic mutual funds through 10 schemes, the filing further added. Unicommerce initiated its public offering today (06th August – 08th August) at a price band of (Rs 102-108) with a minimum bid quantity of 138 equity shares. Before the anchor round, AceVector Limited held a 34.91% of Unicommerce followed by SoftBank and B2 Capital Partners own 29.09% and 9.91%, respectively. Madhuri Madhusudan Kela (1.65%), Dilip Vellodi (3.44%), and Anchorage Capital (7.73%) also command significant stakes in the Gurugram-based company. Notably, AceVector’s co-founders, Kunal Bahl and Rohit Bansal, won’t be selling any shares in the OFS. This is probably the only IPO from the internet sector where the founders/promoters aren’t selling any shares. For the fiscal year ending March 2024, Unicommerce reported Rs 103.5 crore in operating revenue against Rs 90 crore in FY23. The company’s profits surged more than two-fold to Rs 13 crore in FY24 from Rs 6.4 crore in the previous fiscal year.

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