TBO Tek IPO
TBO Tek Limited (TBOTEK) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 15 May 2024.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +68.0% (likely range +42% to +95%), day's high +79.2%, chance of a gain 97%. Actual: +55.0% at the open, +58.3% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 50,47,205 | 63,34,76,128 | 126x | |
| NII (HNI) total | 25,23,602 | 12,77,01,168 | 50.6x | |
| Big NII (above ₹10 lakh) | 16,82,402 | 9,39,09,920 | 55.8x | |
| Small NII (₹2-10 lakh) | 8,41,200 | 3,37,91,248 | 40.2x | |
| Retail | 16,82,401 | 4,33,13,136 | 25.7x | |
| Employees | 32,608 | 5,81,008 | 17.8x | |
| Total | 92,85,816 | 80,50,71,440 | 86.7x |
Bids on NSE and BSE together, as published by NSE, as of 10 May 2024, 07:00 PM. Shares offered exclude the anchor portion. 5% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to TBO Tek's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| INOX IndiaDec 2023 | 148x | 53.2x | 15.3x | 61.3x | ₹1,459 Cr | +43.9% | +50.0% |
| Gandhar Oil Refinery (India)Nov 2023 | 129x | 62.2x | 28.9x | 64.1x | ₹509 Cr | +76.3% | +103.6% |
| Apeejay Surrendra Park HotelsFeb 2024 | 75.1x | 52.4x | 30.4x | 59.7x | ₹971 Cr | +20.0% | +44.0% |
| Harsha Engineers InternationalSep 2022 | 178x | 71.3x | 17.6x | 74.7x | ₹794 Cr | +36.4% | +59.9% |
| Azad EngineeringDec 2023 | 180x | 87.6x | 23.8x | 80.7x | ₹751 Cr | +37.4% | +38.7% |
| Tata TechnologiesNov 2023 | 203x | 62.1x | 16.5x | 69.4x | ₹3,043 Cr | +140.0% | +180.0% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Axis Capital | 107 | +20.4% | 73% |
| Goldman Sachs (India) Securities | 16 | +18.4% | 69% |
| JM Financial | 109 | +22.8% | 75% |
| Jefferies India | 26 | +19.5% | 81% |
Offer documents (NSE)
Frequently asked
What is the TBO Tek IPO price band and lot size? ₹875–920 per share, with a lot of 16 shares, so the smallest retail bid is ₹14,720.
How many times has it been subscribed? 86.7x overall: QIB 126x, NII 50.6x, retail 25.7x, employees 17.8x.
How did it list? It opened at ₹1,426, +55.0% against the issue price of ₹920, and closed its first day +52.9%.
