TBO TEK Ltd to Invest INR 100 Crore in Wholly-Owned Subsidiary Tek Travels DMCC

TBO TEK Ltd has approved an additional investment of INR 100 Crore in its wholly-owned material subsidiary, Tek Travels DMCC. The investment is aimed at onboarding platform users, marketing and promotional activities, and hiring sales and contracting personnel for expanding the supplier and buyer base outside India. Tek Travels DMCC, established in 2004, is engaged in providing information technology, content consultancy, travel agency services, and internet operation services for in-bound and out-bound tours. The company's turnover as of March 31, 2024, is AED 423,025,847. This investment will be treated as a related party transaction, with two promoter directors of TBO TEK Ltd, Mr. Ankush Nijhawan and Mr. Gaurav Bhatnagar, being directors of Tek Travels DMCC. The transaction will be conducted at arm's length.