RateGain Travel Technologies IPO subscribed 17% so far on Day 1

RateGain Travel Technologies IPO subscribed 17% so far on Day 1
© Provided by CNBCTV18

RateGain Travel Technologies’ initial public offering (IPO) to raise Rs 1,336 crore was subscribed 17 percent so far on Tuesday, the first day of the bidding process. The IPO of RateGain Travel, a software as a service (SaaS) company in the hospitality and travel industry, is a combination of fresh issuance and an offer for sale (OFS) of shares. The RateGain IPO will close for subscription on Thursday, December 9.

By 11:00 am, the RateGain Travel IPO, which opened for subscription earlier in the day, received bids for 29.3 lakh shares, as against the 1.7 crore shares on offer, a subscription of 17 percent. The IPO will close for subscription on Thursday.

ALSO READ: Should you subscribe to RateGain Travel Technologies IPO?

RateGain Travel Technologies shares are available for bidding in a price band of Rs 405-425 in multiples of 35. At the upper end of the price band, one lot of RateGain shares is worth Rs 14,875. Of the total issue, 75 percent is reserved for qualified institutional buyers, 10 percent for retail investors and 15 percent for non-institutional investors. On Monday, RateGain Travel Technologies raised Rs 598.8 crore from anchor investors at Rs 425 per share. Catch latest stock market updates here

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