Rategain Travel Technologies Limited IPO (RateGain IPO) Detail

Rategain Travel Technologies is one of the leading distribution technology companies globally and the largest Software as a Service (SaaS) provider in the travel and hospitality industry in India. The firm offers travel and hospitality services across different verticals like hotels, airlines, online travel agents, meta-search companies, package providers, car rentals, cruises, and ferries. The business provides inter-connected products to manage the revenue creation value chain leveraging big data capabilities and integration and over the period, expanded product portfolio to artificial intelligence and machine learning capabilities.

Rategain Travel delivers travel and hospitality technology solutions through the SaaS platform through 3 business units; 1. Data as a Service (DaaS), 2. Distribution, and 3. Marketing Technology (MarTech). As of June 30 2021, the business serves over 1400 customers including 8 Global Fortune 500 Companies. Six Continents Hotels, InterContinental Hotels Group, Kessler Collection, Lemon Tree Hotels, Oyo Hotels, and Homes Pvt Ltd are some of the marquee customers served by the company.

Competitive strengths

  • Strong customer base with 1434 customers including 8 Global Fortune 500 Companies as of June 30, 2021.
  • Innovative Artificial intelligence-driven industry-relevant SaaS solution provider.
  • Comprehensive product portfolio solutions for the travel and hospitality industry.
  • Strong financial performance with an established track record of successful acceleration post-acquisition.
  • Diversified management team with domain expertise.

Company Promoters:

Bhanu Chopra and Megha Chopra are the company promoters.

Company Financials:

ParticularsFor the year/period ended (₹ in Millions)
31-Aug-2131-Mar-2131-Mar-2031-Mar-19
Total Assets4,281.894,398.043,971.082,849.02
Total Revenue1,312.232,640.914,576.132,727.00
Profit After Tax– 83.37– 285.75– 201.04110.34

Objects of the Issue:

The IPO aims to utilize the net proceed towards the following purposes;

  • Repayment and/or prepayment of indebtedness availed by Rategain UK.
  • Make payment of deferred consideration for acquisition of DHISCO.
  • Strategic investments, acquisition, and inorganic growth.
  • To make investment in technology innovation, artificial intelligence, and other organic growth initiatives.
  • Purchase capital equipment for the company’s data center, and
  • Meet general corporate purposes.

RateGain IPO Details

IPO Opening DateDec 7, 2021
IPO Closing DateDec 9, 2021
Issue TypeBook Built Issue IPO
Face Value₹1 per equity share
IPO Price₹405 to ₹425 per equity share
Market Lot35 Shares
Min Order Quantity35 Shares
Listing AtBSE, NSE
Issue Size[.] Eq Shares of ₹1
(aggregating up to ₹1,335.74 Cr)
Fresh Issue[.] Eq Shares of ₹1
(aggregating up to ₹375.00 Cr)
Offer for Sale22,605,530 Eq Shares of ₹1
(aggregating up to ₹960.74 Cr)
Employee Discount40
QIB Shares OfferedNot less than 75% of the issue
NII Shares OfferedNot more than 15% of the issue
RII Shares OfferedNot more than 10% of the issue

RateGain IPO Tentative Timetable

The RateGain IPO open date is Dec 7, 2021, and the close date is Dec 9, 2021. The issue may list on Dec 17, 2021.

IPO Open DateDec 7, 2021
IPO Close DateDec 9, 2021
Basis of Allotment DateDec 14, 2021
Initiation of RefundsDec 15, 2021
Credit of Shares to Demat AccountDec 16, 2021
IPO Listing DateDec 17, 2021

RateGain IPO Lot Size

The RateGain IPO market lot size is 35 shares. A retail-individual investor can apply for up to 13 lots (455 shares or ₹193,375).

ApplicationLotsSharesAmount (Cut-off)
Minimum135₹14,875
Maximum13455₹193,375

RateGain IPO Promoter Holding

Pre Issue Share Holding67.29%
Post Issue Share Holding

RateGain IPO Review

While this company has been posting losses post-pandemic in line with general trends for the segments, it kept adding its services and has widened its products folio from 4 to 10 during this period. Opening up of the economy will have fast forward mode for travel and hospitality segment which augurs well for this global player. No doubt, the ongoing pandemic scare with a new variant (Omicron) is keeping a tab on the general sentiment, RTTL will emerge as the niche player with its widened product portfolio. Post listing, this company may generate first-mover fancy and gain momentum. Negative earnings are a concern for a while, but keeping future prospects in mind, risk seeker/cash surplus investors may consider an investment with a long term perspective. Others may skip it.

Company Contact Information

Rategain Travel Technologies Limited
M-140, Greater Kailash Part II,
New Delhi 110 048, Delhi, India

Phone: +91 120 5057 000
Email: compliance@rategain.com
Websitehttp://www.rategain.com/

RateGain IPO Registrar

KFintech Private Limited

Phone: 04067162222, 04079611000
Email: rategain.ipo@kfintech.com
Websitehttps://karisma.kfintech.com/

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