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TBO Tek adds fresh ESOPs worth Rs 44 Cr

Entrackr · 4m

Online B2B travel distribution platform Travel Boutique Online (TBO) has added fresh employee stock options (ESOP) for its employees under its existing ESOP plans. The Nomination and Remuneration Committee at Travel Boutique Online has approved a special resolution to grant 2,44,500 employee stock options to its existing plan, its regulatory filing accessed through the National Stock Exchange (NSE) shows. Newly added ESOPs have a minimum vesting period of 1 year and the company fixed the exercise price at Rs 59.96. According to Entrackr’s estimates, the freshly added ESOPs are worth around Rs 44 crore or $5.3 million. Founded in 2006, TBO streamlines the travel industry for suppliers like hotels, airlines, car rental services, transfers, insurance providers, cruises, railways, and other vendors. For buyers, TBO facilitates the discovery and booking of travel across a wide range of destinations and segments worldwide. TBO Tek debuted on the stock exchange in May this year, with an IPO valued at Rs 1,550. This amount includes Rs 400 crore from fresh issues, while the remainder comes from an Offer for Sale (OFS) by selling 1.25 crore shares. Travel Boutique Online showcased robust financial health in the previous fiscal year (FY24), with revenue increasing by 30.8% to Rs 1,393 crore and profits rising to Rs 201 crore during the same period. The company is yet to file its first quarter result for the current fiscal year. The company is currently trading at Rs 1,801 per share (as of 4:30 PM on July 15) with a market capitalization of Rs 19,557 crore or $2.35 billion.