TBO Tek Shares Slide 5.5% After Rs 400 Crore Block Deal; Augusta TBO, TBO Korea Offload Stake
Shares of TBO Tek dropped 5.5% to an intraday low of Rs 1,200 on the BSE on Friday after a Rs 400 crore block deal in the travel distribution firm. Sources told CNBC-TV18 that Augusta TBO Singapore Pte Ltd and TBO Korea Holdings Ltd are looking to sell up to a 3.1% stake in the company.
The offer floor price for the deal has been set at Rs 1,180 per share, which marks a 7% discount to the current market price. The move comes as part of broader shifts within the travel sector, where consumer behavior is rapidly evolving.
TBO Tek’s Strategic Focus on Experiential Travel
Despite the share slump, TBO Tek remains optimistic about the future, with a key focus on changing travel preferences. The company believes that experiences will drive travel spending over the next five to seven years, rather than traditional bookings like flights and hotels.
Co-Founder and Joint Managing Director Gaurav Bhatnagar highlighted this trend, stating,
“In fact, it’s already happening—you think of what you want to experience, and then you decide where to travel to.”
TBO Tek is actively positioning itself to cater to this shift, adapting its business model to serve travelers who prioritize unique activities and experiences over standard travel packages.
As the company navigates these changes, market participants will be watching closely to see how TBO Tek leverages its strategy to sustain growth in an increasingly experience-driven travel industry.
