Skift Take
— Bulbul Dhawan
Travel distribution platform TBO Tek made a strong debut on the Indian stock market on Wednesday. Its shares were listed at 50% premium over its IPO issue price on the Bombay Stock Exchange (BSE) in the morning and at 55% premium on the National Stock Exchange (NSE).
The company reached its lowest point within the first hour of trading, but stabilized as the day progressed and closed at a premium of 53% on both exchanges.
What we know about TBO’s business: TBO Tek received the regulator’s approval for its IPO three weeks ago. From the prospectus filed with Securities Exchange Board of India (SEBI), Skift found that the company has two main revenue streams: B2B rates – special rates negotiated with…