RateGain Travel Technologies initial public offering (IPO) allotment status will be finalised on Tuesday, December 14. RateGain Travel Technologies IPO received an overwhelming response from the investors when it had opened for subscription. Rategain Travel Technologies IPO was subscribed 17.41 times over the 1.73 crore shares, according to data.
Investors who have subscribed to RateGain Travel Technologies IPO, can check their share application status now. There are two ways to check RateGain Travel Technologies IPO share allotment status a) via BSE, b) via IPO registrar’s website. After the finalisation, ineligible investors will get their refunds by December 15. The equity shares will be credited to the demat accounts of eligible investors after that.
How to Check RateGain Travel Technologies IPO Share Allotment Status via BSE Website
1) Go to the official BSE website via the URL https://www.bseindia.com/investors/appli_check.aspx
2) It will take you to a page called ‘Status of Issue Application’. There you need to select the ‘Equity’ option.
3) Select ‘RateGain Travel Technologies Limited’ from the drop-down menu that is beside the issue name.
4) Input your application number and the Permanent Account Number (PAN).
5) Then you just click the ‘I am not a Robot’ to verify yourself and click ‘Search’. This will show you the status of the application.
How to Check RateGain Travel Technologies IPO Allotment Status via the Registrar’s Website (KFinTech Private Limited)
1) Go to the KFin Tech Pvt Ltd website via the URL https://ris.kfintech.com/ipostatus/
2) From here, you will have to select one of the five available servers
3) Select the name of the IPO via the dropdown menu, that is, RateGain Travel Technologies Limited. The name will only be populated when the share allotment process is finalised
4) Then, you need to select either 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) Your allotment status will be visible after this
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 portion set aside for the qualified institutional buyers (QIBs) was subscribed 8.42 times. The share allocated for non institutional investors was subscribed 42.04 times and that of retail individual investors (RIIs) was subscribed 8.08 times. Separately, shares for the employees’ segment was subscribed 1.37 times, the data showed. Rategain IPO comprised a fresh issue of equity shares aggregating up to 375 crore and an offer for sale (OFS) of up to 2.26 crore equity shares by promoters and existing shareholders.
The proceeds from the fresh issue will be used for payment of debt availed by RateGain UK, one of the subsidiaries, from Silicon Valley Bank; payment of deferred consideration for acquisition of DHISCO and strategic investments, acquisitions and inorganic growth. That apart, the funds will be invested in technology innovation, artificial intelligence and other organic growth initiatives; purchase of certain capital equipment for data center; and general corporate purposes.
“The company serve a large and rapidly growing total addressable market.
Third party travel and hospitality technology is estimated to be a $5.91 billion market in 2021 growing to an estimated $11.47 billion in 2025 at a
CAGR of 18 per cent. Enterprise applications focused on guest acquisition, distribution, revenue maximization and wallet share expansion in the hospitality and travel industry have a serviceable addressable market size of
$4.34 billion in 2021, growing to an estimated $8.45 billion in 2025. This is a large and rapidly growing addressable market opportunity for a
vertical specific platform company like RateGain. The travel technology
segment is further favoured by industry tailwinds of digitization in the post Covid times,” said ICICI Direct Research in a note.
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