Rategain Travel Technologies Limited IPO subscribed 17.41 times on last day; NIIs quota filled most by 42 times

Rategain Travel Technologies Limited Initial Public Offering (IPO), which was subscribed 75 per cent on Day 2, was fully booked on the last day. The IPO of the leading distribution technology companies globally received bids for 30,20,04,780 shares as against a reserved quota of 1,73,51,146 shares at 5:00 pm, taking the subscription to 17.41 times on the last day of the offer.  

Retail investors subscribed to the issue 8.08 times, while the NIIs portion saw bidding 42.04 times around the same time. The employees' quota also full subscribed by over 1.37 per cent at 5 pm on the second day of the opening of the issue, showed data with the BSE.  

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Against 1,73,51,146 shares on offer, the IPO received bids for 1,29,32,815 shares on Wednesday.  

The retail quota was oversubscribed at 3.98 times, the NIIs booked the issue 0.08 times and employees quota saw 72% bidding on Day 2.

Earlier, the company has fixed a price band of Rs 405-425 per share having a 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.    

A retail investor can apply for one lot comprising 35 equity shares and in multiples thereof. The maximum subscription for a retail investor has been capped at Rs 2 lakh, while the maximum subscription amount for an 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.