RateGain Travel Technologies has gained Rs 598.83 crore from 34 anchor investors ahead of the opening of its initial public offering. The bidding for the offer opened on December 7 and will close on December 9.
In its BSE filing the company said that after consultation with merchant bankers, it has finalized allocation of 1, 40, 90,136 equity shares to anchor investors at a price of Rs 425 per equity share, the upper price band.
The price band for the offer has been fixed at Rs 405-425 per equity share.
Marquee investors invested in the company through its anchor book were the Government of Singapore, Monetary Authority of Singapore, Nomura, Golman Sachs, Pinebridge Global Funds, HSBC, Kuber India Fund, Jupiter South Asia Investment Company, Segantii India Mauritius, BNP Paribas, and Tantallon India Fund. Among others, ICICI Prudential, Nippon Life India Trustee, Aditya Birla Sun Life Trustee, Sundaram Mutual Fund, SBI Life Insurance, and Axis Mutual Fund also participated in the anchor book.
According to the company, out of the total allocation of 1.40 crore equity shares to the anchor investors, 42,35,420 equity shares or 30 percent of total anchor portion were allocated to 6 domestic mutual funds through a total of 20 schemes.
RateGain Travel Technologies, the largest Software as a Service (SaaS) company in the hospitality and travel industry in India, is planning to raise Rs 1,335.74 crore through its public issue that comprises a fresh issuance of shares worth Rs 375 crore and an offer for sale (OFS) of up to 2,26,05,530 equity shares by promoters and an investor.
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