RateGain intends to raise ₹1,335 crore through this IPO.- The company is seeking a valuation of ₹4,537 crore.
- The company has over 1,434 customers spread across 110 countries.
RateGain has set the price brand at ₹405-₹425 and the lot size has been fixed at 35 shares. A retail investor will have to shell out ₹14,175 to buy a lot at a lower end price of ₹405.
The software-as-a-service (SaaS) platform, which solely focuses on the travel and hospitality segment, intends to raise ₹1,335 crore at a valuation of ₹4,537 crore (about $600 million) with this public issue.
RateGain’s grey market premium (GMP) — premium at which investors are comfortable buying the shares before it gets listed on a stock exchange — was at ₹85 on December 6.
Founded in 2004 by Bhanu Chopra, RateGain offers travel and hospitality software solutions. It’s softwares covers an entire set of data points including pricing, rating, ranking, availability, room description, cancellation policy, discounting and packages, among other things.
The company has over 1,434 customers — across the hotel, hospitality and online travel agency (OTA) segment — spread across 110 countries. It’s clientele includes Lemon Tree, InterContinental Hotels Group, Kessler Collection, GroupOn and Sabre GLBL.
It has set up its subsidiaries in the United Kingdom, United States and Spain to serve its customers better.
SEE ALSO
SaaS firm RateGain’s IPO opens tomorrow — should you invest?
Byju’s, Swiggy and Dream11 — the top 10 startup deals of 2021 that raised $7.7 billion overall
Route Mobile CEO explains how he is picking the next market for acquisitions