Two overseas investors, Augusta TBO Singapore Pte Ltd and TBO Korea Holdings Ltd, plan to sell up to a 3.1% stake in the B2B travel tech firm TBO Tek.

They aim to raise around 400 crore rupee (US$46.3 million) through multiple block deals.

The floor price for the shares is set at 1,180 rupee (US$13.68), a 7% discount to TBO Tek’s last closing price. A 30-day lock-in period applies to the sellers’ remaining shares.

As of December 2024, Augusta TBO Singapore held a 9.71% stake, while TBO Korea owned 5.5%, according to BSE data.

TBO Tek, founded in 2006, provides travel services such as hotel reservations, flight bookings, and holiday packages.

The company went public in May 2024 at 890 rupee (US$10.32) per share, listing at a 55% premium, but has fallen over 27% year-to-date.

TBO Tek reported a 1.6% decline in net profit to 49.97 crore rupee (US$5.78 million) last quarter, while revenue surged 29.2% to 422.18 crore rupee (US$48.94 million).

TBO Tek, founded in 2006, provides travel services such as hotel reservations, flight bookings, and holiday packages.