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The issue opened on 15 November 2023 and concluded on 20 November 2023, with a total of 93,31,259 equity shares being allotted. The shares were priced at Rs 643 per share, resulting in an issue size of approximately Rs 600 crore.
The issue price of Rs 643 is at a discount of Rs 33.66 or 4.97%, to the floor price of Rs 676.66 per equity share set for the QIP issue.
The QIP witnessed participation from various institutional investors, with the top five allottees receiving more than 5% of the total issue size.
Societe Generale - ODI emerged as the largest allottee, securing a substantial 13.71% allocation. Following closely behind, Troo Capital secured a notable 10% allocation, while ICICI Prudential Mutual Fund and Pinebridge Global Funds - Pinebridge India Equity Fund received allocations of 8.33% and 6.65%, respectively.
Kotak Mahindra Life Insurance Company secured a 5.83% allocation; the allocation of Morgan Stanley Asia (Singapore) Pte. - ODI was 5.71% and the allocation of Founders Collective Fund was 5.36%. Bajaj Allianz Life Insurance Company and Sundaram Mutual Fund, both received allocations of 5% each.
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 advanced 0.87% to currently trade at Rs 724.10 on the BSE.
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