India's TBO Tek set for best day on record after Classic Vacations deal

ReutersSep 3, 2025 7:06 AM

Shares of TBO Tek TBOT.NS rise 12.7% to 1,558.90 rupees, set for best day on record, if gains hold

Travel distribution co acquires U.S.-based Classic Vacations for up to $125 million as it looks to enter North American luxury travel market

Classic Vacations was previously owned by The Najafi Companies - founded by Iranian American billionaire Jahm Najafi, who bought it from Expedia Group EXPE.O in 2021

It reported revenue of $111 million and an operating EBITDA of $11.2 million for the year ended Dec 31, 2024

Around 2.7 mln shares traded, 22x 30-day avg

Eight analysts rate it "buy" on average, median PT 1,617.50 rupees - data compiled by LSEG

Stock down 13% YTD

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