TBO Tek Block Deal: 72.5 lakh shares change hands in block deal, Augusta TBO, Korea Holdings likely sellers

As many as 72.5 lakh shares of TBO Tek Ltd equivalent to 6.7% equity changed hands via a block deal on Friday, March 21. The price at which the shares changed hands, as well as the buyers and sellers involved in the transaction, is not yet known.

CNBC-TV18 has earlier reported, citing sources, that a ₹400 crore block deal in the travel distribution firm has been launched, with Augusta TBO Singapore Pte Ltd and TBO Korea Holdings Ltd offering to sell up to 3.1% stake in the company.

The offer floor price has been set at ₹1,180 per share, representing a 7% discount to the current market price (CMP), according to multiple people familiar with the development.

Last year, TBO Tek said

it is betting big on a shift in consumer travel behaviour over the next five to seven years. The company believes that experiences, rather than traditional components like flights and hotels, will dominate travel spending in the future.

Also Read: TBO Tek shares, which have doubled in six months of listing, may jump to ₹2,000, says Jefferies

According to TBO Tek, travellers are increasingly planning their trips around specific activities and experiences rather than destinations. "In fact, it’s already happening—you think of what you want to experience, and then you decide where to travel to," said Co-Founder and Joint Managing Director Gaurav Bhatnagar.

This potential shift is the foundation of TBO Tek’s strategy to expand its ancillary services, which include experiences, transfers, and car rentals. Currently, these ancillary offerings contribute a small portion to the company’s overall revenue, but they are growing rapidly, he said.

Also Read: TBO Tek shares end 6% lower as margins dip from last year; Revenue grows 28%