More IPO (Initial Public Offering) action in the Indian Stock Markets is in offing as companies line-up to raise money through the primary markets. Zee Business has been bringing news on some of the companies who have recently filed their draft IPO papers with Securities and Exchange Board of India (SEBI). Two more companies Tega Industries Limited and Rategain Travel Technologies Limited have filed Draft Red Herring Prospectus (DRHP). More details here! 

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Tega Industries Limited IPO – Key Details 

Tega Industries manufactures consumables for the mining industry to raise funds through an initial share sale. The Kolkata-based company offers comprehensive solutions to marquee global clients in the mineral beneficiation, mining and bulk solids handling industry through its wide product portfolio. 

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RateGain Travel Technologies IPO – Key Details

  1. The IPO comprises a fresh issue of equity shares, aggregating up to 400 cr and an offer for sale (OFS) of up to 2.26 cr shares by promoters and existing shareholders, according to the draft red herring prospectus (DRHP). 
  2. The OFS comprises a sale of 1.71 crore equity shares by Wagner Limited, up to 40.44 lakh shares by Bhanu Chopra and up to 12.94 lakh shares by Megha Chopra and up to 1.52 lakh shares by Usha Chopra. 
  3. Proceeds from the fresh issue will be used for payment of debt availed by RateGain UK -- one of the subsidiaries -- from Silicon Valley Bank; payment of deferred consideration for the acquisition of DHISCO and strategic investments, acquisitions and inorganic growth. 
  4. Funds will also be invested in technology innovation, artificial intelligence and other organic growth initiatives; the purchase of certain capital equipment for the data centre and general corporate purposes. 
  5. Kotak Mahindra Capital Company Limited, IIFL Securities Limited and Nomura Financial Advisory and Securities (India) Private Limited have been appointed as lead managers to the issue. 
  6. The equity shares will be listed on BSE and NSE. PTI SP

RateGain Travel Technology Limited is a travel and hospitality technology services provider. The company claims to be among the leading distribution technology companies globally and the largest Software as a Service (SaaS) company in the hospitality and travel industry in India. 

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The company offers travel and hospitality solutions across a wide spectrum of verticals, including hotels, airlines, online travel agents (OTAs), meta-search companies, vacation rentals, package providers, car rentals, rail, travel management companies, cruises and ferries.