Rategain Travel IPO subscribed 41% on Day-1, retail portion by 2.23 times

Rategain Travel Technologies IPO was subscribed 41 per cent on Tuesday, the first day of the issue. The retail portion of the IPO was subscribed 2.23 times. A day earlier, the company had allotted nearly Rs 600 crore worth of shares to 34 anchor investors. Some of the anchor investors included GIC Singapore, ICICI Prudential Mutual Fund (MF), SBI Life Insurance, Nippon MF and Pinebridge.

Rategain Travel is software as a service (SaaS) company catering to the hospitality and travel industry. Its IPO comprises of Rs 375 crore fresh fund raise and Rs 961 crore offer for sale. The price band for the IPO is Rs 405-425 per share. At the top-end, the company will be valued at Rs 4,537 crore. In FY21, the company had reported operating revenue of Rs 251 crore and a loss of Rs-28.6 crore