Bulk Deals On March 21: ICICI Prudential MF, Others Buy 4.12% Stake In TBO Tek

ICICI Prudential Mutual Fund, SBI Mutual Fund, and Nippon India Mutual Fund made one joint acquisition of TBO Tek Ltd.’s leading travel distribution company by buying 4.12% of its shares on March 21, 2025.

Three groups of mutual funds, including ICICI Prudential Mutual Fund and SBI Mutual Fund, alongside Nippon India Mutual Fund, purchased TBO Tek shares using Bombay Stock Exchange bulk trading.

Understanding The Details Of The Acquisition

Mutual funds purchased 44.72 lakh shares of TBO Tek at an average price of ₹1,200 per share through BSE data records. Nippon India Mutual Fund bought 28.11 lakh shares, which became the biggest purchase in this deal.

SBI Mutual Fund acquired 8.78 lakh shares of TBO Tek, and ICICI Prudential Mutual Fund obtained 7.83 lakh shares during the transaction. The money transferred from this acquisition reached ₹536.75 crore in total. 

What Is The Shareholder Divestment?

The TBO Tek stake amounting to 6.7% was sold by shareholders Augusta TBO (Singapore) Pte Ltd. and TBO Korea Holdings simultaneously. The business transaction executed as bulk deals resulted in an ₹870 crore value.

The divestment of shares has boosted supply in the market which affected stock price movements. 

What Was The Impact On TBO Tek Shares?

During the trading day, TBO Tek stock experienced a 5.5% price decrease as it finished at ₹1,200 per share on the BSE. The stock value declined because existing shareholders conducted substantial share distribution resulting in more shares available for the market. 

ICICI Prudential,  SBI, and Nippon India MFs invested ₹537 crore to show their growing interest in technology-driven travel companies.

Share price volatility following the investment did not affect the mutual funds’ confidence that TBO Tek will maintain stable growth in the travel technology industry over an extended period.