Rategain Travel Technologies IPO subscribed 75% on Day 2; retail portion booked 3.98 times
Rategain Travel Technologies Limited Initial Public Offering was subscribed 75 per cent at 5 pm on the second day of the opening of the issue, showed data with the NSE.
Rategain Travel Technologies Limited Initial Public Offering was subscribed 75 per cent at 5 pm on the second day of opening of the issue, showed data with the BSE. Against 1,73,51,146 shares on offer, the IPO received bids for 1,29,32,815 shares on Wednesday.
Reatail quota was oversubscribed at 3.98 times, NIIs booked the issue 0.08 times and employees quota saw 72% bidding on the Day 2.
See Zee Business Live TV Streaming Below:
Earlier on Tuesday, Rategain Travel Technologies Limited IPO was booked 0.41 times.
The three-day IPO of this SaaS services company will conclude on December 9, 2021. The company has fixed a price band of Rs 405-425 per share having face value of Rs 1.
Rategain Travel Technologies Limited is planning to raise Rs 375 crore via a fresh issue and will execute an Offer for Sale (OFS) of up to 22.6 million equity shares, according to the information available on the NSE website.
On Monday, the company had raised Rs 599 crore from anchor investors ahead of its IPO (initial public offering) rollout on Tuesday. The company has decided to allocate 1,40,90,136 equity shares to 34 anchor investors at Rs 425 apiece. Government of Singapore (11.7%), Nomura (11.2%), ICICI Prudential MF (15%), Goldman Sachs Funds (10%), Nippon Life (10%), PineBridge (6.7%) and Aditya Birla Sun Life Mutual Fund (5%) among others are among the anchor investors.
A retail investor can apply for one lot comprising 35 equity shares and in multiples thereof. The maximum subscription for retail investor has been capped at Rs 2 lakh, while the maximum subscription amount for eligible employee is Rs 5 lakh.
Rategain travel technologies Limited is among the leading distribution technology companies globally and the largest Software as a Service (SaaS) company in the hospitality and travel industry in India. The company offer 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.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
05:33 PM IST