India, March 21 -- Two overseas entities, Augusta TBO Singapore Pte Ltd and TBO Korea Holdings Ltd, reportedly plan to sell up to 3.1% stake in B2B travel tech company TBO Tek via multiple block deals for INR 400 Cr (about $46.3 Mn).

As per the terms of the deal seen by Bloomberg, the two backers have set a floor price of INR 1,180 per share, a discount of 7% compared to the stock's closing price on Thursday. The deal will also reportedly have a 30-day lock-in for the remaining stake held by the sellers.

As per BSE data, Augusta TBO (Singapore) held 9.71% stake in TBO Tek at the end of December 2024. TBO Korea owned 5.5% shareholding in the company.

The development comes when Indian stock market has been seeing some recovery after the ...