TBO Tek is a B2B travel tech startup that announced the allocation of its employee stock option plans with more than 2.44 lakh stock options. These newly allocated employee stock option plan shares are worth around Rs 44.96 crore. The firm specializes in providing travel solutions to tour operators and traveling agents. The platform uses cutting-edge technologies to allow users a seamless experience while booking hotel and flight tickets. The exchange filing mentioned that the board approved granting 2,44,500 stock options to those under the TBO employee stock option plan 2021.
Following this announcement, the trading session for the startup increased by 1.9 percent and opened at Rs 1,839 per share on the BSE. This travel tech startup has joined Nykaa, IdeaForge, Paytm, Zomato, and others to have an expanded employee stock option plan for this year. On May 15th, the company debuted on the public market, listing at Rs 1,426 on NSE. This marked a 55 percent premium over the issue price of Rs 920. However, the stock debuted at Rs 1,380 with a 50 percent premium on the BSE.
TBO Tek provides an online platform with various travel solutions for travel agents. The B2B company also provides white-label solutions. The startup claims to be the leading global travel platform that simplifies the travel business for suppliers and buyers. The platform offers services including airlines, car rentals, transfers, cruises, and more. The platform connects 1 million suppliers to 159,000 buyers across over 100 countries.
The startup works with Indigo, Pullman, Hilton, Roibos, and RateGain brands. It plans to strengthen its position in the travel industry and expand its network. The company showed a solid financial performance in FY24.
The startup reported a 64 percent increase in its profit after tax to Rs 46.4 crore for the fourth quarter of this year. Operating revenue also increased by 31 percent YoY to Rs 369 crore in the same period. The company offers transactions in local currencies, making complex cross-border travel processes smooth and efficient. The co-founder of TBO Tek, Ankush Nijhawan, mentioned that the travel market is expected to grow at a CAGR of 11.1 percent and cross the 19.6 billion USD mark by 2027.
Conclusion
TBO Tek announced the allocation of its employee stock option Plan by issuing 2.44 lakh stock options to its employees. These newly allocated stock options are worth around Rs 44.96 crore. The travel startup offers traveling solutions to travel agents and white-label solutions for hotel and flight bookings. The company filing mentioned that the board approved allocating 2,44,500 stock options under its TBO employee stock option scheme 2021.
The trading session opened with Rs 1,839 per share on the BSE. This year was profitable for the startup. Profit after tax saw a 64 percent increase to Rs 46.4 crore in the fourth quarter of 2024. Operating revenue saw 31 percent YoY and stood out at Rs 369 crore.
Digital Marketing Executive at Scoopearth
Disclaimer -We have collected this information from our direct sources, various trustworthy sources on the internet and the facts have been checked manually and verified by our in-house team.