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RateGain IPO is a book built issue of Rs 1,335.74 crores. The issue comprises of fresh issue of Rs 375.00 crore and offer for sale of 2.26 crore shares.
RateGain IPO bidding started from December 7, 2021 and ended on December 9, 2021. The allotment for RateGain IPO was finalized on Tuesday, December 14, 2021. The shares got listed on BSE, NSE on December 17, 2021.
RateGain IPO price band is set at ₹405 to ₹425 per share. The minimum lot size for an application is 35 Shares. The minimum amount of investment required by retail investors is ₹14,875.
The issue includes a reservation of up to 129,870 shares for employees offered at a discount of Rs 40 to the issue price.
Iifl Securities Ltd, Kotak Mahindra Capital Company Limited and Nomura Financial Advisory And Securities (India) Pvt Ltd are the book running lead managers of the RateGain IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to RateGain IPO RHP for detailed information.
| IPO Date | December 7, 2021 to December 9, 2021 |
| Listing Date | December 17, 2021 |
| Face Value | ₹1 per share |
| Price Band | ₹405 to ₹425 per share |
| Lot Size | 35 Shares |
| Total Issue Size | [.] shares (aggregating up to ₹1,335.74 Cr) |
| Fresh Issue | [.] shares (aggregating up to ₹375.00 Cr) |
| Offer for Sale | 22,605,530 shares of ₹1 (aggregating up to ₹960.74 Cr) |
| Employee Discount | Rs 40 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 97,922,360 |
| Share holding post issue | 106,758,112 |
RateGain IPO offers 17,351,146 shares. 9,393,424 (54.14%) to QIB, 4,696,711 (27.07%) to NII, 3,131,141 (18.05%) to RII, 129,870 (0.75%) to employees. 89,461 RIIs will receive minimum 35 shares and (sNII) and (bNII) will receive minimum 490 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 9,393,424 (54.14%) | NA |
| NII (HNI) Shares Offered | 4,696,711 (27.07%) | |
| Retail Shares Offered | 3,131,141 (18.05%) | 89,461 |
| Employee Shares Offered | 129,870 (0.75%) | NA |
| Total Shares Offered | 17,351,146 (100%) |
RateGain IPO opens on December 7, 2021, and closes on December 9, 2021.
| IPO Open Date | Tuesday, December 7, 2021 |
| IPO Close Date | Thursday, December 9, 2021 |
| Basis of Allotment | Tuesday, December 14, 2021 |
| Initiation of Refunds | Wednesday, December 15, 2021 |
| Credit of Shares to Demat | Thursday, December 16, 2021 |
| Listing Date | Friday, December 17, 2021 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 9, 2021 |
Investors can bid for a minimum of 35 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 35 | ₹14,875 |
| Retail (Max) | 13 | 455 | ₹193,375 |
| Lot Size Calculator | |||
Bhanu Chopra and Megha Chopra are the company promoters.
| Share Holding Pre Issue | 67.29% |
| Share Holding Post Issue | 56.72% |
RateGain Travel Technologies is one of the leading distribution technology companies globally and the largest Software as a Service (SaaS) provider in the travel and hospitality industry in India. The firm offers travel and hospitality services across different verticals like hotels, airlines, online travel agents, meta-search companies, package providers, car rentals, cruises, and ferries. The business provides inter-connected products to manage the revenue creation value chain leveraging big data capabilities and integration and over the period, expanded product portfolio to artificial intelligence and machine learning capabilities.
RateGain Travel delivers travel and hospitality technology solutions through the SaaS platform through 3 business units; 1. Data as a Service (DaaS), 2. Distribution, and 3. Marketing Technology (MarTech). As of June 30 2021, the business serves over 1400 customers including 8 Global Fortune 500 Companies. Six Continents Hotels, InterContinental Hotels Group, Kessler Collection, Lemon Tree Hotels, Oyo Hotels, and Homes Pvt Ltd are some of the marquee customers served by the company.
Competitive strengths
| Particulars | For the year/period ended (₹ in Millions) | ||||
|---|---|---|---|---|---|
| 31-Aug-21 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | ||
| Total Assets | 4,281.89 | 4,398.04 | 3,971.08 | 2,849.02 | |
| Total Revenue | 1,312.23 | 2,640.91 | 4,576.13 | 2,727.00 | |
| Profit After Tax | - 83.37 | - 285.75 | - 201.04 | 110.34 | |
The IPO aims to utilize the net proceed towards the following purposes;
[Dilip Davda] While this company has been posting losses post-pandemic in line with general trends for the segments, it kept adding its services and has widened its products folio from 4 to 10 during this period. Opening up of the economy will have fast forward mode for travel and hospitality segment which augurs well for this global player. No doubt, the ongoing pandemic scare with a new variant (Omicron) is keeping a tab on the general sentiment, RTTL will emerge as the niche player with its widened product portfolio. Post listing, this company may generate first-mover fancy and gain momentum. Negative earnings are a concern for a while, but keeping future prospects in mind, risk seeker/cash surplus investors may consider an investment with a long term perspective. Others may skip it. Read detail review...
The RateGain IPO is subscribed 17.41 times on December 9, 2021 5:00:00 PM. The public issue subscribed 8.08 times in the retail category, 8.42 times in the QIB category, and 42.04 times in the NII category. Check Day by Day Subscription Details (Live Status)
Application Wise IPO Subscription (Retail): 7.34 times
| Category | Subscription (times) |
|---|---|
| QIB | 8.42 |
| NII | 42.04 |
| Retail | 8.08 |
| Employee | 1.37 |
| Total | 17.41 |
| Listing Date | December 17, 2021 |
| BSE Script Code | 543417 |
| NSE Symbol | RATEGAIN |
| ISIN | INE0CLI01024 |
| Final Issue Price | ₹425 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹425.00 |
| ₹364.80 |
| ₹334.10 |
| ₹382.00 |
| ₹340.50 |
| NSE |
|---|
| ₹425.00 |
| ₹360.00 |
| ₹333.85 |
| ₹383.00 |
| ₹340.05 |
Rategain Travel Technologies Limited
M-140, Greater Kailash Part II,
New Delhi 110 048, Delhi, India
Phone: +91 120 5057 000
Email: compliance@rategain.com
Website: https://rategain.com/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: rategain.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
RateGain IPO is a main-board IPO of [.] equity shares of the face value of ₹1 aggregating up to ₹1,335.74 Crores. The issue is priced at ₹405 to ₹425 per share. The minimum order quantity is 35 Shares.
The IPO opens on December 7, 2021, and closes on December 9, 2021.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in RateGain IPO using UPI as a payment gateway. Zerodha customers can apply in RateGain IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in RateGain IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The RateGain IPO opens on December 7, 2021 and closes on December 9, 2021.
RateGain IPO lot size is 35 Shares, and the minimum amount required is ₹14,875.
You can apply in RateGain IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for RateGain IPO will be done on Tuesday, December 14, 2021, and the allotted shares will be credited to your demat account by Thursday, December 16, 2021. Check the RateGain IPO allotment status.
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