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.
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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.
AdvertisementRateGain’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.
|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|
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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