Bulk deal on March 21: ICICI Prudential MF, Nippon India MF, SBI MF buy 4.12% stake in TBO Tek for ₹537 crore

Mutual Fund (MF), ICICI Prudential MF, and Nippon India MF on Friday acquired a 4.12 per cent stake in travel distribution firm TBO Tek for ₹537 crore through open market transactions. TBO Tek is a technology platform engaged in the business of providing services related to tours and travel. A total of 44.72 lakh shares, or 4.12 per cent stake, in TBO Tek were acquired by the three mutual fund houses in three separate transactions on the BSE. As per the bulk deal data, Nippon India MF acquired 28.11 lakh shares in TBO Tek, SBI MF purchased 8.78 lakh shares, and ICICI Prudential MF picked up 7.83 lakh shares of the company. The shares were purchased at an average price of ₹1,200 apiece, taking the combined value to ₹536.75 crore.