SBI MF, ICICI Prudential MF, and Nippon India MF Acquire 4.12% Stake in TBO Tek for ₹537 Crore
In a significant investment move, SBI Mutual Fund (MF), ICICI Prudential MF, and Nippon India MF collectively acquired a 4.12% stake in travel distribution firm TBO Tek through open market transactions on Friday. The total purchase was valued at ₹537 crore.
Investment Breakdown
According to bulk deal data, the three mutual fund houses purchased a total of 44.72 lakh shares in TBO Tek through separate transactions on the BSE. Here’s how the acquisition was distributed:
• Nippon India MF acquired 28.11 lakh shares
• SBI MF purchased 8.78 lakh shares
• ICICI Prudential MF bought 7.83 lakh shares
All shares were acquired at an average price of ₹1,200 per share, bringing the total transaction value to ₹536.75 crore.
About TBO Tek
TBO Tek is a technology-driven platform that provides travel and tour-related services. The company has been gaining investor interest due to its growing market presence in the travel distribution sector.
Market Impact & Future Outlook
This investment by major mutual funds highlights confidence in TBO Tek’s growth potential. With increasing demand in the travel and tourism industry, the company is expected to benefit from the surge in global travel activity.
For investors, the backing from top mutual funds signals strong institutional interest, which could positively impact TBO Tek’s market performance in the coming months.
