Rategain Travel Technologies Secures Rs 600 Crore in QIP, Notching 12% Gains for Investors

21 Nov 2023 , 11:12 AM

Rategain Travel Technologies raises Rs 600 crore from QIBs on November 20. The company allots 93.31 lakh shares at Rs 643, a 4.97 % discount to the discovered floor price.

Prominent investors include Pinebridge Global Funds, Troo Capital, ICICI Prudential MF, Kotak Mahindra Life Insurance, Founders Collective Fund, Sundaram MF, Bajaj Allianz Life Insurance, Societe Generale – ODI, and Morgan Stanley Asia.

Post-allotment, the company’s paid-up equity share capital increases from Rs 10,84,46,554 to Rs 11,77,77,813. The qualified institutional placement (QIP) subscription period was from November 15 to November 20, 2023.

Rategain Travel Technologies’ shares closed at Rs 717.85 on the BSE. QIBs who participated in the QIP witnessed a 12 % gain in just a few days.

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