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All that you should know about the Company before applying for the IPO.

December 06, 2021     

The public issue of equity shares of RateGain Travel Technologies Limited will open for subscription on December 07, 2021 and closes on December 09, 2021. It is expected to list on the stock exchanges on December 17, 2021. What does the company do? Why is the company going public? Who are its key competitors? Its key strengths, and lot more. Here’s everything that you want to know about the company to analyse the IPO.

Company Profile

The company is among the leading distribution technology companies globally and is the largest Software as a Service (“SaaS”) company in the hospitality and travel industry in India. It 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. It is one of the largest aggregators of data points in the world for the hospitality and travel industry.

It offers a suite of inter-connected products that manage the revenue creation value chain for its customers by leveraging their big-data capabilities and integration with other technology platforms helping hospitality and travel providers acquire more guests, retain them via personalized guest experiences and seek to maximize their margins. Its products are classified into 3 strategic business units: Data as a Service (“DaaS”), Distribution, and Marketing Technology (“MarTech”).

The Company serves 1,462 customers including 8 Global Fortune 500 companies. Its key customers include Six Continents Hotels, Inc., an InterContinental Hotels Group Company, Kessler Collection, Lemon Tree Hotels Limited, Oyo Hotels, among others.

Who are the Promoters of the Company?

Bhanu Chopra & Megha Chopra

Positives about the Company

  • Marquee global customers with long-term relationships
  • Innovative AI driven industry relevant SaaS solutions
  • Diverse and comprehensive portfolio of revenue maximization and business critical solutions
  • Strong financial performance with track record of successful acceleration post acquisitions
  • Global and diverse management team with relevant technology and domain expertise and focus on employee welfare

Who are its key competitors?

There are no listed peers in India

Why is the Company going public?

Given below are the objectives of the Company –

The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • Repayment/prepayment of indebtedness availed by RateGain UK, one of its Subsidiaries, from Silicon Valley Bank
  • Payment of deferred consideration for acquisition of DHISCO (a hotel distribution technology company)
  • Strategic investments, acquisitions and inorganic growth
  • Investment in technology innovation, artificial intelligence and other organic growth initiatives
  • Purchase of certain capital equipment for its Data Center
  • General corporate purposes

The Offer comprises a Fresh Issue by the company and an Offer for Sale by the selling shareholders. The company will not receive any proceeds from the Offer for Sale.

IPO Details

IPO Size ₹ 1,335.74 Crore*
Offer Mix Fresh Issue ₹ 375 Crore + Offer For Sale ₹ 960.74 Crore
Price Band ₹ 405- ₹ 425
Lot Size 35 Shares (& in multiples thereof)
Face Value ₹ 1
Application Amount Min. ₹ 14,875 (1 lot) | Max. ₹ 1,93,375 (13 lots) [at upper price band]
Listing on NSE & BSE
Registrar KFin Technologies Private Limited
Discount ₹ 40 per equity share for Eligible Employees Category only
Cut-off time for UPI Mandate Confirmation 10-Dec-2021 (up to 12:00 PM)
* at upper price band

Category Wise Availability*

QIB ₹ 998.06 Crore
(75% of Net Issue Size)
NIB ₹ 199.61 Crore
(15% of Net Issue Size)
Retail ₹ 133.07 Crore
(10% of Net Issue Size)
Employee Reservation Portion ₹ 5 Crore
* at upper price band

Indicative Issue Timeline

Activity Date
IPO Opens December 07, 2021
IPO Closes December 09, 2021
Finalization of the basis of allotment December 14, 2021
Unblocking of funds / Initiation of refunds December 15, 2021
Credit of equity shares to Demat accounts December 16, 2021
Listing of equity shares December 17, 2021
Source: Company RHP
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