The Rs 1,335.70-crore initial public offering of RateGain Travel Technologies Ltd. saw health investor appetite on the final day.
The portion reserved for non-institutional investors witnessed the highest demand among other categories.
The IPO received bids amounting to 0.41 times and 0.75 times on its first and second day, respectively.
The software-as-a-service company's issue comprised a fresh issue of shares worth Rs 375 crore and an offer for sale of Rs 960.7 crore by promoters and other investors, according to its red herring prospectus.
The company was selling shares at Rs 405-425 apiece, pegging the market value at Rs 4,536.7 crore at the upper end. The IPO constituted 29.44% of the post paid-up equity share capital. The promoters will continue to hold 56.2% after the share sale.
Ahead of its initial share sale, the RateGain Travel Technologies had raised Rs 598.83 crore by allotting 1.40 crore shares to 34 anchor investors.
Subscription Details: Day 3
The IPO was subscribed 17.41 times as of 5 p.m. on Dec. 9.
Institutional investors: 8.42 times.
Non-institutional investors: 42.04 times.
Retail investors: 8.08 times.
Employees: 1.37 times.
Research Reports On RateGain IPO:
Play On Growing Thrust On Tech Spending In Hospitality, Travel Sector: ICICI Direct
Unique, Scalable Business; Provides Growth Opportunities In Long-Term: Anand Rathi
Investment Rationale, Future Growth Strategies, Risks, Financials: KRChoksey
Strengths, Business Strategy, Financials, Risks: HDFC Securities Retail Research
Leading Global SaaS Player In Hospitality, Travel Sector: Prabhudas Lilladher
Watch BloombergQuint's IPO Adda With RateGain's Management:
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