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RateGain Travels IPO Saw 71 Percent Subscription On Second Day Of Issue

Investor Wagner will sell 1.71 crore equity shares through offer for sale. While promoters Bhanu Chopra, Megha Chopra and Usha Chopra will sell 54.91 lakh equity shares.

RateGain Travels IPO Saw 71 Percent Subscription On Second Day Of Issue

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  8 Dec 2021 12:12 PM GMT

New Delhi: The Initial Public Offering (IPO) of RateGain Travels Technologies Limited witnessed a 71 percent subscription by 4.40 PM on the second day i.e. on Wednesday.

On the first day the issue was subscribed fully as it witnessed 2.23 times subscription on day one while on the second day the issue saw a subscription by 3.80 times.

RateGain Travel IPO GMP Today

The Grey market Premium (GMP) of RateGain Travel IPO is currently at Rs 96 per share and the expected listing price at Rs 521.

RateGain IPO

The company has fixed a price band of Rs 405-425 per share having face value of Rs 1.

The issue of RateGain Travel Tech will consist of a fresh issue of Rs 375 crore and 2,26,05,530 equity shares in the offer for sale.

Investor Wagner will sell 1.71 crore equity shares through offer for sale. While promoters Bhanu Chopra, Megha Chopra and Usha Chopra will sell 54.91 lakh equity shares.

In this offer, 5 crore shares have been kept in reserve for the employees of the company. Employees will get the issue at a discount of Rs 40 per share.

The company plans to raise Rs 1335.73 crore from the issue.

Lot size

At a time, investors can put their bids for a minimum lot size of 35 equity shares and in multiples of 35 shares thereafter. On the other hand, retail investors can invest a minimum of Rs 14,875 for one lot, and their maximum investment would be Rs 1,93,375 for 13 lots.

Where the Funds will be used?

The company will use the money raised from the fresh issue to repay the loan taken by the subsidiary company RateGain UK. It will also pay for the acquisition of DHISCO. The company will use some of the fresh issue proceeds for strategic investments, acquisitions and inorganic growth.

A part of the funds raised from the company's fresh issue will be used for technology innovation, artificial intelligence and other organic growth activities. Along with this, the funds will also be used in the data center and other operations of the company.

What does the company do?

The company engaged in providing software services to the travel industry. It also provides its services to meta search companies, vacation rentals, package providers, car rentals, rail, travel management companies, cruises and ferries. It is the world's largest data points aggregator in the hospitality and travel industry.

Also read:IPO of Shriram Properties Opens Today, Know About Its GMP And Other Key Details

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