Travel Boutique Online (TBO), a business-focused online travel distribution platform, has expanded the number of employee stock options (ESOPs) available to its staff under its current ESOP plans.
According to Travel Boutique Online’s regulatory filing, which can be accessed through the National Stock Exchange (NSE), the Nomination and Remuneration Committee approved a special resolution to grant 2,44,500 employee stock options to the company’s current plan.
The newly added ESOPs have an exercise price of Rs 59.96 and a minimum vesting period of one year, as set by the company. The newly added ESOPs are estimated to be worth approximately Rs 44 crore by the media.
TBO was established in 2006 with the goal of streamlining the travel industry for vendors such as hotels, airlines, car rental companies, insurance companies, cruise lines, and other suppliers. TBO makes it easier for consumers to find and reserve travel across a variety of global destinations and market niches.
In May of this year, TBO Tek debuted on the stock market at a valuation of Rs 1,550. The remaining sum is from an offer for sale (OFS), with the remaining Rs 400 crore coming from new issues.
Travel Boutique Online demonstrated strong financial standing in the most recent fiscal year (FY24), as profits increased to Rs 201 crore and revenue increased by 30.8% to Rs 1,393 crore. The business has not yet submitted its first quarter financial report for the current fiscal year.
As of 4:30 PM on July 15, the market capitalization of the Gurgaon-based company is Rs 19,557 crore, trading at Rs 1,801 per share.
