TBO Tek Ltd. (TBO), a travel distribution platform, has announced to expand in North America and Europe while making investments to expand global supply footprint.
The company intends to raise fresh capital of up to ₹400 crore as part of its business strategy to help achieve growth of its platform.
TBO Tek recently filed its offer document with the market regulator SEBI for an IPO, proposing to raise up to ₹400 crore in fresh issue and an offer for sale of up to 15,635,996 equity shares.
TBO platform connects over 147,000 buyers across more than 100 countries with suppliers, as of June 30, 2023.
It will be investing in building platform-led growth capabilities. In the mature markets of North America and Europe, platform-led buyer acquisition and onboarding would be an important lever for the company, it said.
The company envisages investment of ₹100 crore in its material subsidiary, Tek Travels DMCC, for onboarding platform users through marketing and promotional activities; and hiring sales and contracting personnel for augmenting Supplier and Buyer base outside India.
It prioritises destinations that have high demand and that are of most interest to its buyers. It is also focused on diversifying its supply base.