Bookbuilding IPO | ₹1,336 Cr | Listed at BSE, NSE | Tue, Dec 7, 2021 - Thu, Dec 9, 2021
Rategain Travel Technologies IPO is a book build issue of ₹1,335.74 crores. The issue is a combination of fresh issue of 0.88 crore shares aggregating to ₹375.38 crores and offer for sale of 2.26 crore shares aggregating to ₹960.37 crores.
Rategain Travel Technologies IPO bidding started from Dec 7, 2021 and ended on Dec 9, 2021. The allotment for Rategain Travel Technologies IPO was finalized on Dec 14, 2021. The shares got listed on BSE, NSE on Dec 17, 2021.
Rategain Travel Technologies IPO price band is set at ₹425 per share. The lot size for an application is 35. The minimum amount of investment required by an retail is ₹14,875 (35 shares) (based on upper price). The lot size investment for sNII is 14 lots (490 shares), amounting to ₹2,08,250, and for bNII, it is 68 lots (2,380 shares), amounting to ₹10,11,500.
The issue includes a reservation of up to 1,29,870 shares for employees offered at a discount of ₹40.00 to the issue price.
IIFL Capital Services Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Rategain Travel Technologies IPO RHP for detailed Information.
IPO Open
Tue, Dec 7, 2021
IPO Close
Thu, Dec 9, 2021
Issue Price
₹425 per share
Market Cap (Pre-IPO)
₹4,537.22 Cr
| IPO Date | 7 to 9 Dec, 2021 |
| Listed on | Fri, Dec 17, 2021 |
| Face Value | ₹1 per share |
| Price Band | ₹405 to ₹425 |
| Issue Price | ₹425 per share |
| Lot Size | 35 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹40.00 |
| Total Issue Size | 3,14,41,282 shares (agg. up to ₹1,336 Cr) |
| Fresh Issue | 88,35,752 shares (agg. up to ₹375 Cr) |
| Offer for Sale | 2,26,05,530 shares of ₹1 (agg. up to ₹960 Cr) |
| Share Holding Pre Issue | 9,79,22,360 shares |
| Share Holding Post Issue | 10,67,58,112 shares |
| BSE Script Code / NSE Symbol | 543417 / RATEGAIN |
| ISIN | INE0CLI01024 |
Rategain Travel Technologies IPO comprises a total issue size of 3,14,41,282 shares. The net offer to the public is 3,13,11,412 shares, after excluding 1,29,870 shares under a preferential allotment. Of the Net offer 2,34,83,560 (75.00%) are allocated to QIB, 46,96,711 (15.00%) allocated to NII 31,31,141 (10.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 2,34,83,560 | 75.00% | 74.69% | NA |
| − Anchor Investor Shares Offered | 1,40,90,136 | 44.81% | NA | |
| − QIB (Ex. Anchor) Shares Offered | 93,93,424 | 29.88% | NA | |
| NII (HNI) Shares Offered | 46,96,711 | 15.00% | 14.94% | NA |
| Retail Shares Offered | 31,31,141 | 10.00% | 9.96% | 89,461 |
| Preferential Reservations | ||||
| Employee Shares Offered | 1,29,870 | 0.41% | NA | |
| Total Shares Offered | 3,14,41,282 | 100.00% | 100.00% | |
Investors can bid for a minimum of 35 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 35 | ₹14,875 |
| Retail (Max) | 13 | 455 | ₹1,93,375 |
| S-HNI (Min) | 14 | 490 | ₹2,08,250 |
| S-HNI (Max) | 67 | 2,345 | ₹9,96,625 |
| B-HNI (Min) | 68 | 2,380 | ₹10,11,500 |
Rategain Travel Technologies IPO raises ₹598.83 crore from anchor investors. Rategain Travel Technologies IPO Anchor bid date is December 6, 2021.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Dec 6, 2021 |
| Shares Offered | 1,40,90,136 |
| Anchor Portion (₹ Cr.) | 598.83 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Jan 13, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Mar 14, 2022 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
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
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment/prepaymentof indebtedness availed by RateGain UK, one of our Subsidiaries, from Silicon Valley Bank | 85.26 |
| 2 | Payment of deferred consideration for acquisitionof DHISCO; | 25.20 |
| 3 | Strategic investments, acquisitionsand inorganic growth | 80.00 |
| 4 | Investment in technology innovation, artificial intelligence and other organic growth initiatives | 50.00 |
| 5 | Purchase of certain capital equipment for our Data Center; | 40.77 |
| 6 | General corporate purposes | 73.26 |
The RateGain IPO is subscribed 17.41 times on December 9, 2021 5:00:00 PM (Day 3). 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)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 8.42 | 93,93,424 | 7,90,84,950 |
| NII | 42.04 | 46,96,711 | 19,74,52,290 |
| Retail | 8.08 | 31,31,141 | 2,52,90,125 |
| Employee | 1.37 | 1,29,870 | 1,77,415 |
| Total | 17.41 | 1,73,51,146 | 30,20,04,780 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs | 47.29 |
| 2 | Advertising and marketing expenses | 4.24 |
| 3 | Fees payable to the Registrar to the Offer | 0.57 |
| 4 | Brokerage and selling commission payable to SCSBs, Registered Brokers, RTAs and CDPs, as applicable and processing fees to the SCSBs and to the Sponsor Bank for ASBA Forms procured by Registered Brokers, RTAs or CDPs | 2.69 |
| 5 | Printing and distribution of issue stationery | 1.41 |
| 6 | Fees to regulators, including stock exchanges | 3.22 |
| 7 | Others | |
| 8 | (i) Book building, listing fees and other regulatory expenses; | |
| 9 | (ii) Fees payable to legal counsel; and | |
| 10 | (iii) Miscellaneous. | 13.42 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹425.00 | ₹425.00 |
| Open | ₹364.80 | ₹360.00 |
| Low | ₹334.10 | ₹333.85 |
| High | ₹382.00 | ₹383.00 |
| Last Trade | ₹340.50 | ₹340.05 |
Rategain Travel Technologies IPO is a main-board IPO of 3,14,41,282 equity shares of the face value of ₹1 aggregating up to ₹1,336 Crores. The issue is priced at ₹425 per share. The minimum order quantity is 35.
The IPO opens on Tue, Dec 7, 2021, and closes on Thu, Dec 9, 2021.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Rategain Travel Technologies IPO using UPI as a payment gateway. Zerodha customers can apply in Rategain Travel Technologies IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Rategain Travel Technologies IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Rategain Travel Technologies IPO opens on Tue, Dec 7, 2021 and closes on Thu, Dec 9, 2021.
Rategain Travel Technologies IPO lot size is 35, and the minimum amount required for application is ₹14,875.
You can apply in Rategain Travel Technologies IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Rategain Travel Technologies IPO will be done on Tuesday, December 14, 2021, and the allotted shares will be credited to your demat account by Thu, Dec 16, 2021. Check the Rategain Travel Technologies IPO allotment status.
The Rategain Travel Technologies IPO listing date is on Fri, Dec 17, 2021.
