RateGain Travel Listing: The listing of RateGain Travel Technologies, one of the world’s largest distribution technology companies, has disappointed IPO investors today.
RateGain Travel Listing: The listing of Rategain Travel Technologies, one of the world’s largest distribution technology companies, has disappointed IPO investors today (December 17). Its shares opened at a 14 percent discount today amid weak market sentiment. Its shares were listed at Rs 364.8 per share against the issue price of Rs 425. However, its IPO of Rs 1336 crore received an overwhelming response from investors and the issue was subscribed 17.41 times. New shares worth Rs 375 crore have been issued under this IPO. Rategain Travel is listed with a market capitalization of Rs 3894 crore.
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IPO got great response
RateGain Travel IPO was open for subscription between December 7-9. A lot of 35 shares was fixed for the issue in the price band of Rs 405-425 per share. There was also a discount of Rs 40 for the personnel. When the issue opened, for the first two days, the issue did not get much response and could not even be fully subscribed, but on the last day it was subscribed 17.41 times (42.04 times) on the basis of non-institutional investors. The share reserved for employees was subscribed 5.52 times, the share reserved for qualified institutional buyers was 8.42 times, the share reserved for retail investors was subscribed 8.08 times.
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Company related details
- It is one of the largest distribution technology companies in the world. Apart from this, it is the largest Software as a Service Company (SaaS) in the hospitality and travel industry in India.
- The company provides hospitality and travel related services including hotels, airlines, online travel agents (OTAs), meta-search companies, vacation rentals, package providers, car rentals, rail, travel management companies, cruises and ferries.
- Talking about the financial position, the net profit (Profit After Tax) of Rategain has increased continuously in the last three financial years, in the financial year 2019, the company had a profit of Rs 11.3 crore, which increased to Rs 20.1 crore in the next financial year and In the last financial year 2021, the company had a net profit of Rs 28.6 crore.
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