RateGain IPO status: Issue subscribed 25% on Day 1, Check latest status here
The RateGain IPO was subscribed 25 per cent by 5:00 pm on Tuesday. It received a bid for 43,97,435 shares against the issue size of 1,73,51,146 shares.
- Republic Business
- 2 min read
RateGain Travel Technologies’ three-day initial public offering (IPO) opened for public subscription on Tuesday. The offering opened on a positive note with the Rs 1,336 crore IPO gaining a decent response from the investors. The issue was subscribed 25 per cent on the first day of bidding and is moving to the second day with a grey market premium of over 11 per cent.
RateGain IPO subscription status
The RateGain IPO was subscribed 25 per cent by 5:00 pm on Tuesday. It received a bid for 43,97,435 shares against the issue size of 1,73,51,146 shares. The issue was oversubscribed 2.22 times in the retail investor’s category, while it got 0.04 times the bids for the non-institutional investor’s category. Meanwhile, the company’s employees subscribed a total 0.34 times on Day 1 of the offer.
RateGain IPO subscription status today
RateGain Travel Technologies’ three-day IPO opened for public subscription on December 7. The software-as-a-service (SaaS) company, which earlier received a nod from SEBI for the offering, has fixed a price band of Rs 405-425 a share. The IPO will close on Thursday, December 9. The travel technologies company’s share premium was trading at Rs 80 in the grey market on Tuesday. The company’s GMP was constantly above Rs 100 in the past few days, which showed promise for the company as well as interested investors.
The offering comprises a fresh issue of equity shares aggregating up to Rs 375 crore and an offer-for-sale (OFS) of up to 2.26 crore equity shares by promoters and existing shareholders. Out of the total OFS, 1.71 crore equity shares is being sold by Wagner Limited, up to 40.44 lakh equity shares by Bhanu Chopra and up to 12.94 lakh equity shares by Megha Chopra while Usha Chopra is letting go up to 1.52 lakh equity shares. In the offering, a reservation of shares worth Rs 5 crore has been kept for the company's employees.
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At the upper end of the price band, the company is expected to get Rs 1,335.73 crore with the offering. Kotak Mahindra Capital Company Limited, IIFL Securities Limited and Nomura Financial Advisory and Securities (India) Private Limited takes place as the lead managers for the issue. Following the subscription, the company plans to list on 17 December on BSE and NSE.