The initial public offering of RateGain was subscribed 17.41 times on 9 December 2021, receiving bids for 30,20,04,780 shares. That said, the total number of equity shares that were allotted for different investor categories was 1,73,51,146. RateGain Travel Technologies aimed to raise Rs. 1,335.74 crores at Rs. 425 per equity share.
RateGain is a major Indian distribution technology company having a global presence. Furthermore, it is the largest SaaS provider in India’s travel and hospitality sector.
The IPO included fresh issuance of equity shares and an offer-for-sale of Rs. 375 crores and Rs. 960.74 crores respectively. If you want to know how the public issue performed on Day 3 of subscription, keep reading!
RateGain IPO Performance: Day 3
Here’s how the initial share sale of RateGain Travel Technologies performed across various investor categories:
- Out of the 31,31,141equity shares reserved for Retail Individual Investors (RII), bids were put in for 2,52,90,125
- Non-institutional investors placed bids for 19,74,52,290 shares, whereas the reserved portion for this category comprised 46,96,711 equity shares.
- A total of 93,93,424 shares were allotted for the Qualified Institutional Buyer (QIBs). However, bids were put in for 7,90,84,950 equity shares.
- The employee category received bids for 1,77,415 equity shares. That said, 1,29,870 shares were allotted for this segment.
Here’s how RateGain IPO performed at the end of Day 3:
|Investor Category||IPO Subscription|
Anchor Investment Details
RateGain mobilised funds worth approximately Rs. 599 crores from anchor investors on 9 December 2021, Monday. This company allocated a total of 1,40,90,136 equity shares at the upper price band of Rs. 425 per unit. Accordingly, the transaction size was Rs. 598.83 crore.
Here are some of the anchor investors who have been allocated more than 4% of the total allocated portion:
|Anchor Investor||Total Number of Shares||Allocation Percentage||Value of the Allocated Portion|
|Pinebridge Asia Fund||9,41,255||6.68%||Rs.40.00 crores|
|ICICI Prudential Life||7,05,915||5.01%||Rs.30.00 crores|
|Nippon India Growth Fund||6,82,360||4.84%||Rs.29.00 crores|
|Government of Singapore||16,44,650
|Nippon India Flexi Cap Fund||7,05,880||5.01%||Rs.30.00 crores|
|SBI Life Insurance||7,05,915||5.01%||Rs.30.00 crores|
|Ashoka India Opportunities Fund||14,11,795||10.02%||Rs.60.00 crores|
|Nomura India Mother Fund||14,11,795
|Goldman Sachs Fund||14,11,795||10.02%||Rs.60.00 crores|
Other domestic investors who participated in the anchor book are as follows:
- Axis Mutual Fund
- HSBC Mutual Fund
- Aditya Birla Sun Life
- ICICI Prudential Mutual Fund
RateGain IPO: Highlights of the First and Second Bidding Days
Take a look at this table to find out how many times the RateGain Travel Technologies IPO was subscribed across different investor categories on the first and second day of bidding:
|Day of Subscription||NII Portion||RII Portion||Employee Portion||QIB Portion||Total|
|Day 1||0.04 times||2.23 times||0.34 times||0.00 times||0.41 times|
|Day 2||0.08 times||3.98 times||0.72 times||0.00 times||0.75 times|
The initial public offering of the company went live on 7 December 2021. RateGain aims to achieve the following objectives by going public:
- Ensuring the fulfillment of general corporate purposes
- Facilitating organic growth by making strategic investments and funding more acquisitions
- Pay the deferred consideration for the takeover of DHISCO
- Financing the purchase of capital equipment that’s required for its data center
- Ensuring the repayment or prepayment of the funds borrowed by RateGain UK]
- Investing more in AI, technological innovations, and other activities that ensure organic growth.
RateGain has a multifaceted product portfolio and a diverse customer base. Furthermore, it has a proven track record with regard to financial performance. If you’ve missed out on this initial share sale, you may consider investing in this company once its shares get listed on NSE and BSE.
However, before subscribing to this IPO, make sure to take into account certain factors in relation to RateGain. Some of the aspects include strengths, threats, weaknesses, and financials.
Frequently Asked Questions
- How can I buy RateGain Travel Technology Shares?
- When will RateGain make its D-Street debut?
RateGain shares will get listed on the bourses on 17 December 2021.
- What is the basis of allotment publication date for RateGain Travel Technologies IPO?
The basis of allotment publication date is 14 December 2021.
- Who took part in the OFS of RateGain IPO?
Promoters and existing investors of RateGain- Wagner Limited, Usha Chopra, Megha Chopra, and Bhanu Chopra offloaded a portion of their holdings via OFS.