RateGain Travel Technologies’ Initial Public Offering (IPO) allotment status will be finalized on Tuesday, December 14. According to data, the IPO of Rategain Travel Technologies was subscribed 17.41 times over the 1.73 crore shares.
Investors who have subscribed to the RateGain Travel Technologies IPO can now view the status of their share application. There are two ways to check the status of RateGain Travel Technologies’ IPO stock allocation: a) through BSE, b) through the IPO Registrar’s website. After closing, ineligible investors will get their money back by December 15th. Shares will thereafter be credited to the demat accounts of Eligible Investors.
How to Check RateGain Travel Technologies IPO Share Allocation Status via BSE Website
1) Visit the official BSE website at the URL https://www.bseindia.com/investors/appli_check.aspx
2) You will be taken to a page called ‘Status of Issue Application’. There you need to select the option ‘Equity’.
3) Select ‘RateGain Travel Technologies Limited’ from the drop-down menu next to the problem name.
4) Enter your application number and Permanent Account Number (PAN).
5) Then click on ‘I am not a robot’ to verify yourself and click on ‘Search’. Here you can see the status of the request.
How to Check RateGain Travel Technologies IPO Assignment Status through Registrar’s Website (KFinTech Private Limited)
1) Visit KFin Tech Pvt Ltd website at URL https://ris.kfintech.com/ipostatus/
2) From here you have to select one of the five available servers
3) Select the name of the IPO from the drop down menu which is RateGain Travel Technologies Limited. The name will only be populated when the shared file mapping process is complete
4) Then you need to select one of the three modes: application number, DPID/client ID or PAN ID
5) Enter the details of the mode you selected in step ‘4’
6) Click on the search option
7) After this, your assignment status will be visible
RateGain IPO received bids of over 30.20 crore shares against the total issue size of over 1.73 crore shares, according to NSE data. The section for qualified institutional buyers (QIBs) was subscribed to 8.42 times. The share allocated to non-institutional investors was subscribed 42.04 times and that of private retail investors (RIIs) 8.08 times. Separately, the employee segment shares were subscribed to 1.37 times, the data shows. Rategain’s IPO included a new issuance of shares totaling up to 375 crore and an offer for sale (OFS) of up to 2.26 crore shares by promoters and existing shareholders.
Proceeds from the new issuance will be used to pay off debts of RateGain UK, one of Silicon Valley Bank’s subsidiaries; payment of deferred fees for acquisition of DHISCO and strategic investments, acquisitions and inorganic growth. Apart from that, the funds will be invested in technological innovation, artificial intelligence and other organic growth initiatives; purchase of certain data center capital equipment; and general corporate purposes.
“The company serves a large and fast-growing fully addressable market.
Third-party travel and hospitality technology is estimated to have a $5.91 billion market in 2021, growing to an estimated $11.47 billion by 2025 at a
CAGR of 18 percent. Enterprise applications aimed at acquiring, distributing, maximizing revenue and expanding wallet share in the hospitality and travel industries have a usable addressable market size of
$4.34 billion in 2021, growing to an estimated $8.45 billion by 2025. This is a large and fast-growing addressable market opportunity for a
vertical specific platform company like RateGain. The travel technology
segment is further favored by the tailwind of digitalization in the post-Covid times,” ICICI Direct Research said in a note.
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