Hogan Lovells advises the underwriters Axis Capital, Goldman Sachs, Jefferies and JM Financial on the US$180 million IPO of TBO Tek
24 May 2024 - Global law firm Hogan Lovells advised the underwriters, Axis Capital, Goldman Sachs, Jefferies and JM Financial, on the US$180 million equity offering by TBO Tek, one of the leading travel distribution platform in the global travel and tourism industry.
Despite launching the IPO during an election period in India, the travel tech company’s offer garnered significant attention, with an overall subscription rate exceeding 86 times, and the shares listed at a 50% premium.
The Hogan Lovells team was led by India Practice Co-Head and Singapore Office Managing Partner Biswajit Chatterjee with support from counsel Kaustubh George, senior associates Varun Jetly and Utkarsh Mishra, and associates Aditya Rajput and Suchisubhra Sarkar.
Hogan Lovells has been ranked No.1 by deal volume and deal value for 2023 India Equity and Rights Offering (Managers) by Bloomberg in 2024, and has also been ranked as a key player among foreign law firms involved in India work by India Business Law Journal 2023.
About Hogan Lovells Equity Capital Markets practice
Our equity capital markets teams globally work seamlessly together to provide integrated advice on complex and time-sensitive cross-border transactions. Our vast experience in all types of legal, financial, regulatory, tax, and corporate governance issues makes us uniquely qualified to assist foreign private issuers, U.S. issuers, and their underwriters as those companies embark on their IPOs and make the transition to public ownership.
In the Asia-Pacific region, we provide substantial experience on equity and capital markets transactions, from IPOs, dual listings, share placements, rights issues, to convertible notes and other securities.
About Hogan Lovells India practice
Hogan Lovells India practice consists of lawyers across its global network of offices ranging from Northern California to the East Coast of Australia. The Singapore office is the firm’s regional hub for India, Southeast Asia, and South Asia. With strong local relationships and keen market knowledge, we work successfully across borders to help clients develop infrastructure projects, seek investment opportunities, raise capital, restructure businesses, and resolve disputes and intellectual property issues in India.
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