RateGain Travel Technologies IPO subscribed 41% on Day 1

RateGain Travel Technologies' initial public offering (IPO) to raise Rs 1,336 crore was subscribed 41 percent on Tuesday, the first day of the bidding process. The IPO of RateGain Travel, a software as a service (SaaS) company in the hospitality and travel industry, is a combination of fresh issuance and an offer for sale (OFS) of shares. The RateGain IPO will close for subscription on Thursday, December 9.

By the end of the day, the RateGain Travel IPO received bids for 71.9 lakh shares, as against the 1.7 crore shares on offer, a subscription of 41 percent.

The portions reserved for retail investors and non-institutional investors were subscribed 2.2 times and four percent respectively.