Rategain Travel Technologies Ltd

Rategain Travel Technologies Ltd

The company was originally incorporated in New Delhi as Ridaan Real Estate Private Limited on 16 November 2012. Pursuant to a scheme of arrangement and demerger approved by the High Court of Delhi on 25 November 2014the Company acquired the business of providing web-based solution to hospitality and travel sector of RateGain IT Solutions Private Limited. Subsequently the name of the Company was changed to RateGain Travel Technologies Private Limited on 25 February 2015. Thereafter the company was converted into a public limited company pursuant to a shareholders' resolution dated on 15 July 2021 and consequentlyname of the company was changed to RateGain Travel Technologies Limited on 27 July 2021.The company is engaged in providing software development and consulting services.The company is among the leading distribution technology companies globally and are the largest Software as a Service (SaaS) company in the hospitality and travel industry in India.The company offers travel and hospitality solutions across a wide spectrum of verticals including hotels airlines online travel agents (OTAs) meta-search companies vacation rentals package providers car rentals rail travel management companies cruises and ferries.The company is one of the largest aggregators of data points in the world for the hospitality and travel industry.On 04 December 2014 Pursuant to the Scheme of Arrangement and Demergerthe company made the Allotment of 502500 equity shares to Bhanu Chopra 127500 equity shares to Megha Chopra and 15000 equity shares to Usha Chopra.On 28 July 2021the company has sub-divided its face value of equity shares from Rs 10 to Re.1. On 05 August 2021the company has issued and allotted 72058800 equity shares of Re.1each as bonus shares to the shareholders in the ratio of 11:1.During the month of December 2021the company came out with an Rs 1335.74-crore public issue which comprised of fresh issue of Rs 375 crore and the rest from the offer for sale by selling shareholders.The IPO shares were allotted at the price of Rs 425 per share including a premium of Rs 424 per share.The allotted shares were listed on the BSE Ltd and National Stock Exchange of India Ltd(NSE) on 17 December 2021.