The shares of RateGain Travel Technologies will be listed on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on Friday viz December 17.
The software-as-a-service (SaaS) company, which had fixed a price band of Rs 405-425 per equity share, was opened for subscription from December 7 to December 9. The allotment of shares took place on Tuesday.
The IPO comprised a fresh issue of equity shares aggregating up to Rs 375 crore and an offer-for-sale (OFS) of up to 2.26 crore equity shares by promoters and existing shareholders.
RateGain IPO witnessed bids for more than 30 crore shares and was oversubscribed 17.41 times. The retail investors and QIBs bid for more than eight times their allotted portions, while NIIs bid 42.04 times. The portion reserved for employees was also booked 1.37 times, according to a report published in Republic World.
According to a report published in Mint, RateGain shares will be listed on both NSE and BSE in the 'B' group of securities in the Special Pre-open Session. According to market experts, RateGain shares may have a marginal debut and it may list at around Rs 450 to Rs 475 per share levels, giving up to 10 per cent listing gain to the allottees.
Here are views of stock market experts on RateGain Travel listing, as per the Mint report.
Abhay Doshi, Founder at UnlistedArena.com
RateGain Technologies listing may be neutral or marginal as the IPO was fully priced. I am expecting the IPO to list around Rs 450 mark, which looks marginal with respect to recent listings.
Ankur Saraswat, Research Analyst at Trustline Securities
The company is the largest aggregator of data points in the world in the travel and hospitality space and the first SaaS company to hit the market. It is an artificial intelligence and innovation-driven firm with a strong base of customers and a diversified product portfolio.
Growth in travel and tourism after this pandemic will be a big booster for RateGain Travel Technologies. We expect that the listing price of RateGain IPO could be around Rs 475.
Manoj Dalmia, Founder & Director at Proficient Equities Limited
We are expecting RateGain IPO to list around Rs 450 to Rs 470 levels. India's largest SaaS provider company in the travel and hospitality industry has reported revenue of Rs 264 crore against Rs 458 crore in 2020.