One of the leading Software as a Service (SaaS) providers in the travel and hospitality industry in India, RateGain Travel Technologies IPO is all set to open for public subscription on December 7, 2021. The global giant among the distribution technology companies is putting their Rs 1,335 crore worth IPO in the market. RateGain Travel Technologies IPO price band is fixed for Rs. 405- Rs. 425 per share. Investors are hyped-up after the announcement of the RateGain Travel Technologies IPO date. The anchor investors can bid on December 6th and the closing date of the RateGain Travel IPO is fixed on December 9, 2021.
Data as a Service (DaaS), Distribution, and Marketing Technology (MarTech) are the 3 business units through which RateGain Travel Technologies is delivering their travel and hospitality technology solutions. As of June 30, 2021, the company has a strong customer base including 8 Global Fortune 500 Companies. They have a wide spectrum of verticals including hotels, airlines, online travel agents (OTAs), package providers, car rentals, rail, travel management companies etc.
The RateGain Travel Technologies IPO has equity shares worth a whopping Rs 375 crore in this fresh issue. RateGain Travel Technologies have reserved shares worth Rs. 5 crore for the employees of the company. They can avail a discount on these shares and that is Rs. 40 per share to the final issue price. This IPO issue also consists of the offer-for-sale or OFS equity shares by promoters and existing shareholders worth 2.26 crore.
|OFS offered by||Equity share worth (Rs.)|
|Wagner Limited||1.71 crore|
|Bhanu Chopra||40.44 lakh|
|Megha Chopra||12.94 lakh|
|Usha Chopra||1.52 lakh|
The expected gain from initial share sale is Rs 1,335.73 crore. The IPO issue size reservation is fixed as 75% for qualified institutional buyers, 15 % for non-institutional investors and 10% for retail investors. The RateGain Travel Technologies IPO market lot size is 35 shares and a retail-individual investor can apply for up to 13 lots which is equal to 455 shares. The equity shares will be listed on BSE and NSE from December 17, 2021.
The RateGain Travel IPO aims to utilize the net proceeds from the fresh issue towards the payment of debt availed by RateGain Travel Technologies UK, one of the subsidiaries, from Silicon Valley Bank and for making the payments of deferred consideration for DHISCO acquisition. The company plans to have strategic investments and invest more in acquisitions and inorganic growth. Also, the funds will be used in technology innovation, artificial intelligence and other initiatives that will boost organic growth. RateGain Travel Technologies plans to purchase certain capital equipment for data centers and utilize funds for general corporate purposes.
The RateGain Travel Technologies kept adding its services and has widened its products folio from 4 to 10 during the pandemic period. The travel and hospitality segment will revive after the opening up of the economy. There is no doubt that this will augur well for the global player of the travel and hospitality industry. Keeping future prospects in mind, the investors should consider an investment in the RateGain Travel Technologies IPO with a long term perspective.
[…] Source link […]
[…] post RateGain Travel Technologies IPO opens on Dec 7: All you need to know appeared first on […]
[…] Source link […]