TBO Tek Expands ESOP Pool, Allots 2.44 Lakh Stock Options

B2B travel portal Travel Boutique Online (TBO Tek) has expanded the pool size of its employee stock option plan (ESOP) by allotting an additional 2.44 Lakh stock options.

In an exchange filing on Monday (July 15), the company said it has allotted 2,44,500 stock options to eligible employees under the TBO Employees Stock Option Scheme, 2021.

Shares of TBO Tek opened Tuesday’s trading session at INR 1,839 apiece on the BSE, up 1.9% from the previous close. As per the stock’s opening price today, the newly-allotted ESOPs have a cumulative worth of INR 44.96 Cr.

With this, TBO Tek has joined the long list of new-age tech companies such as ideaForge, Nykaa, Delhivery and Zomato among others that have announced ESOPs this year.

TBO Tek made a strong debut on the public market on May 15, listing at INR 1,426 on the NSE, marking a 55% premium over its issue price of INR 920. On the BSE, the stock debuted at INR 1,380, reflecting a 50% premium.

The IPO, which opened for bidding on May 8, 2024, saw an overwhelming response, with the public issue oversubscribed by 86.7 times by the final day of bidding.

It is pertinent to note that TBO Tek reported a significant 64% jump in its profit after tax (PAT), reaching INR 46.4 Cr in the March quarter (Q4) of FY24, up from INR 28.2 Cr in the same period last year. 

The company’s operating revenue also increased 31% year-on-year (YoY) to INR 369 Cr in Q4.

Founded in 2006, TBO Tek provides travel solutions to travel agents and tour operators. It offers white-label solutions, hotel and flight booking APIs and dynamic packages, among others.

With TBO Tek having made its public debut, it has joined the likes of EaseMyTrip, MakeMyTrip and Yatra, who are listed in the public market.

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