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RateGain Travel Technologies’ Shares To List On Bourses Tomorrow

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RateGain Travel Technologies' Shares To List On Bourses Tomorrow

Shares of RateGain Travel Technologies will list on the bourses on December 17

RateGain Travel Technologies’ shares are expected to list on the bourses tomorrow on Friday, December 17 at a healthy premium of around 10 per cent and above, mainly due to the good response which its initial public offer (IPO) had received earlier this month, analysts said.

The company’s shares will be listed on National stock exchange as well as on Bombay stock exchange.

The Software as a Service (SaaS) company in the hospitality sector, had mopped up Rs 1,335.74 crore at a price of Rs 425 per share as its IPO was subscribed 17.41 times between December 7 and 9.

Non-institutional investors’ portion of the public issue was subscribed 42.04 times, while qualified institutional buyers’ portion as well as that of retail investors were oversubscribed. The employees’ portion was booked 1.37 times.

The IPO consisted of a fresh issue of Rs 375 crore and an offer-for-sale of Rs 960.74 crore by selling shareholders, including Wagner, Bhanu Chopra, Megha Chopra, and Usha Chopra. The offer had included shares worth Rs 5 crore for the company’s employees.

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