Rategain Travel Technologies Ltd Company Summary

Rategain Travel Technologies Ltd Summary

Rategain Travel Technologies Limited was originally incorporated in New Delhi as Ridaan Real Estate Private Limited pursuant to a Certificate of Incorporation dated November 16, 2012 . Pursuant to the Scheme of Arrangement and Demerger in November 2014, the Company acquired the business of providing web-based solution to hospitality and travel sector of Rategain IT Solutions Private Limited. Subsequently, the Company name was changed to Rategain Travel Technologies Private Limited on February 25, 2015. Thereafter, Company was converted into a Public Limited Company and name was changed to Rategain Travel Technologies Limited on July 27, 2021 and a fresh Certificate of Incorporation was issued by the RoC.The Company is an Information Technology company providing innovative solutions to help clients in the hospitality and travel industry. 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.On 04 December 2014, pursuant to the Scheme of Arrangement and Demerger, the Company allotted 502,500 Equity Shares to Bhanu Chopra, 127,500 Equity Shares to Megha Chopra and 15,000 Equity Shares to Usha Chopra.The Company launched a new real-time rate intelligence product for hotels and further expanded relationship with leadingOTAs and Large Hotel Chains in 2016-17. In December 2021, the Company made an Initial Public Offering of 31,441,282 Equity Shares by raising fund from public aggregating to Rs 1335.73 Crore comprising a Fresh Issue of 8,835,752 Equity Shares aggregating Rs 375 Crore and an Offer for Sale of 22,605,530 Equity Shares aggregating to Rs 960.73 Crore. In 2021, the Company launched industrys first AI-powered forecast solution using forward looking data - Demand AI, Rev.AI. It acquired MyHotelShop in September 2021, which has expertise in reporting, bid management and campaign management for metasearch publishers and OTAs. In 2022, the Company launched an automated AI-powered pricing recommendation platform and a demand forecasting solution that provides forward-looking data to predict future demand at the city level, making it simpler for hotels, car rentals, and ferries to plan their demand and pricing strategy.