Software-as-a-Service Startup (SaaS) Firm rate mileage travel Technologies Private Limited’s initial public offering will open for subscription on 7 December and close on 9 December. The firm plans to list on the exchanges on December 17.
IPO involves a new issue of shares 375 crore and offer for sale of 22.61 million shares by its existing shareholders and promoters.
The OFS includes 17.11 million shares by Wagner Limited, up to 4.04 million shares by Bhanu Chopra, up to 1.29 million shares by Megha Chopra and 0.15 million shares by Usha Chopra.
Investment banks Kotak Mahindra Capital, IIFL and Nomura are offering rate gains on the IPO.
RateGain is one of the leading distribution technology companies globally and the largest software as a service (SaaS) company in the hospitality and travel industry in India.
As of June 30, the company served more than 1,400 customers, including eight global Fortune 500 companies. Its clients include Six Continents Hotels, Inc., an Intercontinental Hotels Group company; Kessler Collection, a luxury hotel chain; Lemon Tree Hotels Limited and Oyo Hotels & Homes Private Limited.
This counts over 1,186 distribution partners in over 110 countries, including 1,186 large and medium-sized hotel chains, airlines, car rental companies and large cruise companies, including 104 travel partners and distribution companies such as Groupon, OTA and Saber GLBL Inc. does. its customers, as of June 30, 2021.
RateGain revenue fell 250.7 crore in FY 2011 due to the impact of Covid-19 on the travel industry. This. reported revenue of 398.7 crore in the year before that. It reported the loss of 27.8 crores in FY 2011, as against losses 12.8 crore in the last financial year. The company had reported profit of 11.5 crore on a revenue of Rs 261.5 crore in FY19.
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