Updated: December 17, 2021 10:58:28 am
RateGain share price: Shares of RateGain Travel Technologies debuted on a weaker note and got listed at a discount of over 15 per cent from their issue price in the stock exchanges today.
The scrip got listed at Rs 360.00 apiece on the National Stock Exchange (NSE), thereby registering a fall of 15.29 per cent from its offer price of Rs 425.00, while on the BSE, it opened at Rs 364.80, down 14.17 per cent from the issue price.
The stock inched higher from its opening levels and within a few minutes touched a high of Rs 382.00 on BSE and Rs 383.00 on NSE, however it slipped again soon after hitting a low of Rs 342.30 on BSE and Rs 340.25 on NSE.
At 10:45 am, the scrip was trading at Rs 360.30 on the BSE, down 15.22 per cent from the issue price while on NSE it was at Rs 361.00, down 15.06 per cent. The market capitalisation stood at Rs 3,846.49 crore, data from the BSE showed.
Over 87 lakh shares of RateGain Travel Technologies were traded so far on NSE while around 3.70 lakh shares have exchanged hands on the BSE, data from the respective stock exchange showed.
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.
The IPO was met with a robust subscription during its offer period from December-7-9, 2021. It saw a 17.41 times subscription on the final day.
Reacting to the listing, Santosh Meena, Head of Research at Swastika Investmart, said, “The timing of RateGain IPO doesn’t fit despite most of the IPOs are witnessing a handsome return because Covid is hurting its business in the near term while worry of omicron variant is another challenge. Long term outlook of the company is promising therefore long-term investors can stay invested while those who applied for listing gain can keep stop loss of Rs 330. New investors can look for entry opportunities at 25-30 per cent correction.”
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