Travel distribution platform TBO.com has completed the public listing of its equity shares in India via the National Stock Exchange of India and the BSE Limited, raising approximately US$186 million.
The investments will be used to further enhance the TBO.com’s technology and services as well as expand into new markets in the region.
The public issue received an overwhelming response across all categories of investors, being oversubscribed 86.70 times overall. The Qualified Institutional Buyers portion was subscribed 125.51 times, while the Non-Institutional Investors portion received a subscription of 50.60 times. The Retail Individual Investors portion received 25.74 times, while the portion reserved for employees received 17.82 times subscription.
The company was listed on May 15 this year on the aforementioned Indian stock exchanges with a premium of 50 per cent plus over the issue price.
TBO’s two-sided technology platform enables suppliers and buyers to transact seamlessly with each other. For buyers, the platform is an integrated, multi-currency, and multi-lingual one-stop solution that helps them discover and book travel for destinations worldwide, across various travel segments such as leisure, corporate, and religious travel.
The TBO platform has a strong presence in Asia-Pacific and connects over 159,000 buyers across more than 100 countries with over a million suppliers. Their global impact was exemplified by the anchors attracted before the initial public offering, which included the Abu Dhabi Investment Authority, and institutional investors from countries like Norway, Japan and India.
“TBO’s listing on the Indian stock exchanges marks a significant milestone in our company’s journey. This accomplishment paves the way for new opportunities, enabling us to drive innovation, expand our reach, and enhance value for our shareholders and customers,” said Gaurav Bhatnagar, co-founder and joint managing director, TBO.com.
Dusit International has signed a partnership agreement with VillaCarte Group, a Phuket-based real estate development company, to manage a dual-branded luxury hotel and apartment complex at the heart of VillaCarte’s Layan Verde Project on the west coast of Phuket, Thailand.
Slated to open in 2027, the 398-key Dusit Collection – Layan Verde hotel is set over five buildings, while another five buildings will be under Dusit Residences – Layan Verde comprising 388 rooms.
Guests and residents of Dusit Collection and Dusit Residences Layan Verde will enjoy a range of premium lifestyle facilities, including an all-day dining restaurant, fitness centre, swimming pool, kids club, rooftop bar, and banqueting space.
Located just 800 metres from Bang Tao Beach, Layan Verde spans over 108,000m² and will also encompass a shopping centre and an ocean club.
The hotel and apartment interiors will be finished with eco-friendly, moisture-resistant materials while advanced EDGE-certified technology will be implemented to decrease water and electricity consumption by up to 45 per cent.
“This project perfectly complements our existing Dusit Thani Laguna Phuket resort and further strengthens our commitment to providing exceptional hospitality experiences in Phuket,” said Siradej Donavanik, vice president – global development, Dusit International.
VillaCarte Group co-CEO, Vadym Bukhkalov, added: “Alongside Dusit’s renowned five-star standards of service and growing global portfolio of Dusit Hotels and Resorts, we were also impressed by the size and scale of the upcoming Dusit Central Park project in Bangkok. Its design, seamlessly integrating a luxury hotel and residences with sustainable features like a public roof park, aligns perfectly with our own commitment to creating a harmonious blend of nature and contemporary luxury at Layan Verde. This shared passion for sustainability is the cornerstone of our exciting and promising partnership with Dusit. We’re confident it will be a long-term collaboration filled with meaningful success.”