Travel distribution platform TBO Tek made its debut in the Indian stock exchanges Wednesday, and raised a little more than INR 15.5 billion ($180 million) from its IPO subscription last week.
One use of the funds may be acquisitions, the company’s leaders told Skift.
“It’s important, to always maintain a pipeline. However, acquisitions can be a huge hit and miss, so it’s very hard to say. But we are actively evaluating,” said Gaurav Bhatnagar, co-founder and joint managing director of TBO.
TBO plans to allocate INR 400 million ($4.8 million) of its net proceeds in the IPO towards strategic acquisitions and/or investments.
In February 2