Shares of RateGain Travel Technologies listed at a discount of 15% to the issue price today. The firm made its debut at Rs 360 per share (down 15.29 per cent) on the NSE against the IPO issue price of Rs 425. Market cap of the firm stood at Rs 3,843 crore. Total 20.51 lakh shares of the firm changed hands amounting to a turnover of Rs 73.83 crore on the NSE.
On BSE, the stock listed at Rs 364.80, 14.16% lower to the IPO price. Market cap of the firm rose to Rs 3,894 crore.
Total 0.18 lakh shares of the firm changed hands amounting to a turnover of Rs 67.37 crore on the BSE.
The IPO of Rategain Travel Technologies was held from December 7 to December 9. The share sale saw strong response from investors, with the issue getting subscribed 17.41 times on the last day of the offer.
All the categories, including those for Qualified Institutional Buyers (QIBs) and Retail Individual Investors (RIIs), were oversubscribed.
The price band of the IPO was Rs 405-425 per share. The travel and hospitality technology services provider’s offer raised Rs 1,335.73 crore at the upper end of the price band.
The IPO attracted 30,20,04,780 bids for 1,73,51,146 shares on offer, according to data available with the BSE.
The share sale comprised a fresh issue of up to Rs 375 crore and an offer for sale of up to 2,26,05,530 equity shares.
The company raised Rs 599 crore from anchor investors a day ahead of the IPO.
Among other purposes, proceeds from the fresh issue will be used for payment of debt availed by RateGain UK, one of the subsidiaries, from Silicon Valley Bank; payment of deferred consideration for the acquisition of DHISCO and strategic investments, acquisitions, and inorganic growth.
