zerodha open demat account wide banner

New Delhi, Dec 9 (PTI) Rategain Travel Technologies’ initial share sale elicited strong response from investors, with the issue getting subscribed 17.41 times on the last day of the offer on Thursday.

All the categories, including those for Qualified Institutional Buyers (QIBs) and Retail Individual Investors (RIIs), were oversubscribed.

The Initial Public Offer (IPO) attracted 30,20,04,780 bids for 1,73,51,146 shares on offer, according to data available with the BSE.

The IPO comprises a fresh issue of up to Rs 375 crore and an offer for sale of up to 2,26,05,530 equity shares, and the price band is Rs 405-425 per share.

As per the data, the portion for QIBs was subscribed 8.42 times wherein 7,90,84,950 bids were received for 93,93,424 shares on sale.

In the case of non-institutional investors, the quota got 42.04 times subscription. There were 46,96,711 shares on offer and the bids received stood at 19,74,52,290.

RII category was subscribed 8.08 times. As many as 2,52,90,125 bids were received for 31,31,141 shares on sale, the data showed.

The subscription stood at 1.37 times for the employees quota wherein for 1,29,870 shares on offer, 1,77,415 bids were received.

The company, on Monday, raised Rs 599 crore from anchor investors. The travel and hospitality technology services provider’s offer is expected to fetch Rs 1,335.73 crore at the upper end of the price band.

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. PTI RAM ANU ANU