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RateGain’s IPO opens today, grey market premium at ₹85

RateGain’s IPO opens today, grey market premium at ₹85
  • RateGain intends to raise ₹1,335 crore through this IPO.
  • The company is seeking a valuation of ₹4,537 crore.
  • The company has over 1,434 customers spread across 110 countries.
The initial public offering (IPO) of RateGain Travel Technologies will open for subscription today, December 7, at 10:00 a.m.

RateGain has set the price brand at ₹405-₹425 and the lot size has been fixed at 35 shares. A retail investor will have to shell out ₹14,175 to buy a lot at a lower end price of ₹405.

The software-as-a-service (SaaS) platform, which solely focuses on the travel and hospitality segment, intends to raise ₹1,335 crore at a valuation of ₹4,537 crore (about $600 million) with this public issue.

RateGain’s grey market premium (GMP) — premium at which investors are comfortable buying the shares before it gets listed on a stock exchange — was at ₹85 on December 6.

Event

Date

IPO Opening Date

December 7

IPO Closing Date

December 9

IPO Price

₹405 to ₹425

Market Lot

35 shares

Basis of Allotment Date

December 14

Initiation of Refunds

December 15

Credit of Shares to Demat Account

December 16

IPO Listing Date

December 17

Source: BSE

Founded in 2004 by Bhanu Chopra, RateGain offers travel and hospitality software solutions. It’s softwares covers an entire set of data points including pricing, rating, ranking, availability, room description, cancellation policy, discounting and packages, among other things.

The company has over 1,434 customers — across the hotel, hospitality and online travel agency (OTA) segment — spread across 110 countries. It’s clientele includes Lemon Tree, InterContinental Hotels Group, Kessler Collection, GroupOn and Sabre GLBL.

It has set up its subsidiaries in the United Kingdom, United States and Spain to serve its customers better.

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