RateGain Travel Technologies' initial public offer (IPO) to raise Rs 1,336 crore was subscribed 17 times on Thursday, the third and last day of the bidding process. The IPO of RateGain Travel Technologies, a software as a service (SaaS) firm in the hospitality and travel industry, was a combination of fresh issuance and an offer for sale (OFS).
At the end of the final day, the RateGain IPO received bids for 30.2 crore shares as against the 1.7 crore shares on offer, a subscription of 17.4 times. The portion reserved for qualified institutional buyers (QIBs) was subscribed 8.4 times, and that for non-institutional investors 42 times. The retail investor category saw a subscription of 8.1 times.
Of the total issue, 75 percent was reserved for QIBs, 15 percent for non-institutional investors and 10 percent for retail investors.
RateGain Travel Technologies shares were available for bidding under the IPO in a price band of Rs 405-425 in multiples of 35. At the upper end of the price range, one lot is worth Rs 14,875.
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RateGain Travel Technologies raised Rs 598.8 crore from anchor investors at Rs 425 per share on Monday, ahead of the IPO.
First Published: Dec 8, 2021 4:06 PM IST
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