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market | IST

RateGain Travel Technologies IPO subscribed 41% on Day 1

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RateGain Travel IPO: RateGain Travel Technologies' initial share sale opened for subscription on Tuesday. RateGain Travel shares are available for bidding in a price band of Rs 405-425 in multiples of 35 under the IPO, which will close on Thursday, December 9.

RateGain Travel Technologies' initial public offering (IPO) to raise Rs 1,336 crore was subscribed 41 percent on Tuesday, the first day of the bidding process. The IPO of RateGain Travel, a software as a service (SaaS) company in the hospitality and travel industry, is a combination of fresh issuance and an offer for sale (OFS) of shares. The RateGain IPO will close for subscription on Thursday, December 9.
By the end of the day, the RateGain Travel IPO received bids for 71.9 lakh shares, as against the 1.7 crore shares on offer, a subscription of 41 percent.
The portions reserved for retail investors and non-institutional investors were subscribed 2.2 times and four percent respectively.

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RateGain Travel Technologies shares are available for bidding in a price band of Rs 405-425 in multiples of 35. At the upper end of the price band, one lot of RateGain shares is worth Rs 14,875.
Of the total issue, 75 percent is reserved for qualified institutional buyers, 10 percent for retail investors and 15 percent for non-institutional investors.
On Monday, RateGain Travel Technologies raised Rs 598.8 crore from anchor investors at Rs 425 per share.