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In this edition of Moneycontrol Pro Panorama: Markets look ready for a new high, get ready for a wild ride in gold and silver, US faces double challenge from Russia and China, water levels shrink ahead of crucial monsoon season, and more
TBO Tek's shares debuted on NSE and BSE at premiums of 55% and 50% respectively. The company's appeal stems from its robust technological foundation, leveraging a proprietary platform. It raised funds from anchor investors for growth and inorganic acquisitions. IPO opening witnessed strong interest. General Atlantic acquired a minority stake in TBO.
TBO Tek IPO, which closes on May 10, includes fresh equity of Rs 400 crore and an offer for sale (OFS) of up to 1.25 crore shares. Under the OFS, promoters Gaurav Bhatnagar, Manish Dhingra, LAP Travel and other selling shareholders TBO Korea, Augusta TBO will offload the shares.
Lack of revenue guidance and delay in extracting cross-sell synergies from the Cigniti deal amid tough market conditions have prompted analysts to lower their earnings estimates for Coforge
Kotak Mahindra Capital Company, Jefferies India , Motilal Oswal Investment Advisors and Nomura Financial Advisory and Securities (India) are the book running lead managers to the issue.