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IPO Wrap: Rategain IPO subscribed over 17 times on final day led by non institutional investors and QIBs

Rategain IPO subscription status: The initial public offering (IPO) of Rategain Travel Technologies was subscribed 17.41 times on the final day.

By: Express Web Desk | New Delhi |
December 9, 2021 6:30:21 pm
rategain travel technologies ipo, rategain travel technologies limited, rategain ipo subscription status, rategain brokerage comment, rategain ipo news, rategain travel technologies ipo updatesRategain Travel Technologies is among the leading distribution technology companies globally and the largest Software as a Service (SaaS) company in the hospitality and travel industry in India. (Representative image, source: RateGain)

Rategain IPO subscription status: The initial public offering (IPO) of Rategain Travel Technologies, which was launched on Tuesday was met with a great response by the investors as it got subscribed 17.41 times on the final day, according to the data available on the BSE.

The Rs 1,335.73 crore offer received bids for over 30.20 crore (30,20,04,780) shares against the total issue size of over 1.73 crore (1,73,51,146) shares, the data showed.

The shares which are to be allocated for the qualified institutional buyers (QIBs) was subscribed 8.42 times, while those of non institutional investors was subscribed 42.04 times and that of retail individual investors (RIIs) was subscribed 8.08 times. Separately, shares for the employees’ segment was subscribed 1.37 times, the data showed.

The Rs 1,335.73 crore IPO comprises a fresh issue of equity shares aggregating up to 375 crore and an offer for sale (OFS) of up to 2.26 crore equity shares by promoters and existing shareholders.

Rategain IPO had opened for subscription on Tuesday, December 7, 2021, and concluded at 5 pm Thursday, December 9, 2021. It had a price band of Rs 405-425 per share and before heading into the IPO, the company raised nearly Rs 599 crore from the anchor investors.

Rategain Travel Technologies is among the leading distribution technology companies globally and the largest Software as a Service (SaaS) company in the hospitality and travel industry in India. The company offers travel and hospitality solutions across a wide spectrum of verticals including hotels, airlines, online travel agents (OTAs), meta-search companies, vacation rentals, package providers, car rentals, rail, travel management companies, cruises and ferries.

Going ahead, investors will now look forward to the share allotment date of the issue. The finalisation of the basis of allotment for Rategain Travel Technologies is expected to take place on Tuesday, December 14, 2021, as per the information provided in the red herring prospectus.

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