{"id":7163,"date":"2021-12-06T21:44:09","date_gmt":"2021-12-06T16:14:09","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-rategain-fundraise\/"},"modified":"2021-12-06T21:44:09","modified_gmt":"2021-12-06T16:14:09","slug":"biz-rategain-fundraise","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-rategain-fundraise\/","title":{"rendered":"RateGain Travel Technologies raises Rs 599 cr from anchor investors ahead of IPO"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3146274058\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> New Delhi, Dec 6 (PTI) RateGain Travel Technologies on Monday said it has raised Rs 599 crore from anchor investors ahead of its IPO (initial public offering) rollout on Tuesday.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3372769311\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> The company has decided to allocate 1,40,90,136 equity shares to 34 anchor investors at Rs 425 apiece, valuing the transaction size to Rs 598.83 crore, according to a circular uploaded on BSE website.<\/p>\n<p> Government of Singapore, Monetary Authority of Singapore, Nomura, Goldman Sachs Funds, Aditya Birla Sun Life Mutual Fund (MF), ICICI Prudential MF, Sundaram MF, Axis MF, SBI Life Insurance Company, ICICI Prudential Life Insurance Company\u00a0 and BNP Paribas Arbitrage are among the anchor investors.<\/p>\n<p>\u00a0\t The travel and hospitality technology services provider&#8217;s IPO comprises fresh issue of equity shares aggregating up to 375 crore and an offer for sale (OFS) of up to 2.26 crore equity shares by promoters and existing shareholders.<\/p><div class=\"trade-content_5\" id=\"trade-2267379139\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> The OFS comprises sale of 1.71 crore equity shares by Wagner Limited, up to 40.44 lakh equity shares by Bhanu Chopra and up to 12.94 lakh equity shares by Megha Chopra and up to 1.52 lakh equity shares by Usha Chopra.<\/p>\n<p> The offer includes a reservation of shares worth Rs 5 crore for company&#8217;s employees who will receive those shares at a discount of Rs 40 per share to final issue price.<\/p>\n<p>\u00a0 \u00a0 \u00a0  The issue, with a price band of Rs 405-425 a share, will open for public subscription on December 7 and conclude on December 9.<\/p>\n<p>\u00a0 \u00a0 \u00a0  At the upper end of the price band, the initial share-sale is expected to fetch Rs 1,335.73 crore.<\/p>\n<p> Proceeds from the fresh issue will be used for payment of debt availed by RateGain UK, one of the subsidiaries, from Silicon Valley Bank;\u00a0 payment of deferred consideration for acquisition of DHISCO and strategic investments, acquisitions and inorganic growth.<\/p>\n<p> Also, the funds will be invested in technology innovation, artificial intelligence and other organic growth initiatives; purchase of certain capital equipment for data center; and general corporate purposes.<\/p><div class=\"trade-content-10\" id=\"trade-2226652861\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> About 75 per cent of the issue size has been reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors.<\/p>\n<p> Investors can bid for a minimum of 35 equity shares and in multiples thereof.<\/p>\n<p> RateGain is among the leading distribution technology companies globally and the largest Software as a Service (SaaS) company in the hospitality and travel industry in India.<\/p>\n<p> The company offers travel and hospitality solutions across a wide spectrum of verticals including hotels, airlines, online travel agents (OTAs), meta-search companies, vacation rentals, package providers, car rentals, rail, travel management companies, cruises and ferries.\u00a0 \t Kotak Mahindra Capital Company Limited, IIFL Securities Limited and Nomura Financial Advisory and Securities (India) Private Limited have been appointed as lead managers to the issue.\u00a0 \u00a0 \u00a0 \u00a0  \t The equity shares will be listed on BSE and NSE. PTI SP  MKJ<\/p>\n<div class=\"trade-after-content\" id=\"trade-3815290082\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Dec 6 (PTI) RateGain Travel Technologies on Monday said it has raised Rs 599 crore from anchor investors ahead of its IPO (initial public offering) rollout on Tuesday. The company has decided to allocate 1,40,90,136 equity shares to 34 anchor investors at Rs 425 apiece, valuing the transaction size to Rs 598.83 crore, [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1698,1696,1516,31],"tags":[],"class_list":["post-7163","post","type-post","status-publish","format-standard","hentry","category-commodities","category-corporate-action","category-ipo","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>RateGain Travel Technologies raises Rs 599 cr from anchor investors ahead of IPO - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-rategain-fundraise\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RateGain Travel Technologies raises Rs 599 cr from anchor investors ahead of IPO\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Dec 6 (PTI) RateGain Travel Technologies on Monday said it has raised Rs 599 crore from anchor investors ahead of its IPO (initial public offering) rollout on Tuesday. 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