The company's board authorized and declared the opening of the issue on Wednesday, 15 November 2023.

The floor price of Rs 676.66 is at a discount of 4.93% to the previous day's closing price of Rs 711.75 on the BSE.

The company may offer a discount of not more than 5% on the floor price so calculated for the issue.

The software firm said that the issue price will be determined by the company in consultation with the book running lead managers appointed in relation to the issue.

RateGain Travel Technologies is a global provider of SaaS solutions for travel and hospitality. It is one of the world's largest processors of electronic transactions, price points, and travel intent data helping revenue management, distribution and marketing teams across hotels, airlines, meta-search companies, package providers, car rentals, travel management companies, cruises and ferries drive better outcomes for their business.

The company reported 131.8% zoomed in consolidated net profit to Rs 30.04 crore on 88.4% jump in net sales surged to Rs 234.72 crore in Q2 FY24 over Q2 FY23.

The scrip declined 1.29% to currently trade at Rs 702.60 on the BSE.