Mumbai, Sept. 8 -- The brokerage cited TBO Tek's recent acquisition of US-based Classic Vacations for $125 million as a key growth driver. Classic Vacations is a premier B2B2C luxury travel company with a strong network of high-value Travel Advisors and deep ties with major American consortia. The company delivered a revenue of $111 million and an operating EBITDA of $11.2 million in the fiscal year ended 31 December 2024.

The broker noted that the acquisition aligns with TBO Tek's roll-up strategy in incubated markets and could boost the company's earnings per share by 2-6% between FY25 and FY28. A domestic broker also highlighted that the move strengthens TBO Tek's presence in North America, the world's largest outbound travel market, ...