December 14, 2021 11:25:14 am
Rategain IPO share allotment status: The initial public offering (IPO) of Rategain Travel Technologies was subscribed 17.41 times over the 1.73 crore shares that were on offer during the subscription period from December 7-9, 2021. The price band was fixed at Rs 405-425 per share.
Rategain IPO received bids of over 30.20 crore (30,20,04,780) shares against the total issue size of over 1.73 crore (1,73,51,146) shares, data available with the National Stock Exchange (NSE) 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 Rategain 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.
The proceeds from the fresh issue will be used for payment of debt availed by RateGain UK, one of the subsidiaries, from Silicon Valley Bank; payment of deferred consideration for acquisition of DHISCO and strategic investments, acquisitions and inorganic growth. That apart, the funds will be invested in technology innovation, artificial intelligence and other organic growth initiatives; purchase of certain capital equipment for data center; and general corporate purposes.
Investors are now looking forward to the share allotment date of the Rategain IPO. The company is supposed to finalise the allotment by Tuesday, December 14, 2021, as per the timeline provided in the red herring prospectus (RHP). In case you have applied for the Rategain IPO, then here is how you can check the status of your allotment when it gets declared:
- The allotment status will get updated on the website of the registrar of the IPO, which in this case is KFin Technologies (Click here: https://ris.kfintech.com/ipostatus/ipos.aspx). Applicants will need to select RATEGAIN TRAVEL TECHNOLOGIES LIMITED in the drop-down menu and enter either their Application No. or DPID/Client ID or PAN, enter the Captcha code (which is shown in digits) and click on Submit to view their allotment status.
- Apart from the registrar’s website, applicants can also check the status of their allotment on the website of the BSE (Click here: https://www.bseindia.com/investors/appli_check.aspx). Here, they will need to select Equity in Issue Type, then select RATEGAIN TRAVEL TECHNOLOGIES LIMITED from the drop-down list in the Issue Name section, enter their Application Number and PAN Number in the respective boxes and then click on search to view their status.
The listing of shares of Rategain Travel Technologies is likely to take place on Friday, December 17, 2021, on both the NSE and BSE.
Kotak Mahindra Capital Company, IIFL Securities and Nomura Financial Advisory and Securities (India) are the book running lead managers to the IPO.
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