Rategain Travel Technologies is one of the leading distribution technology companies globally and the largest Software as a Service (SaaS) provider in the travel and hospitality industry in India. The firm offers travel and hospitality services across different verticals like hotels, airlines, online travel agents, meta-search companies, package providers, car rentals, cruises, and ferries. The business provides inter-connected products to manage the revenue creation value chain leveraging big data capabilities and integration and over the period, expanded product portfolio to artificial intelligence and machine learning capabilities.
Rategain Travel delivers travel and hospitality technology solutions through the SaaS platform through 3 business units; 1. Data as a Service (DaaS), 2. Distribution, and 3. Marketing Technology (MarTech). As of June 30 2021, the business serves over 1400 customers including 8 Global Fortune 500 Companies. Six Continents Hotels, InterContinental Hotels Group, Kessler Collection, Lemon Tree Hotels, Oyo Hotels, and Homes Pvt Ltd are some of the marquee customers served by the company.
Competitive strengths
- Strong customer base with 1434 customers including 8 Global Fortune 500 Companies as of June 30, 2021.
- Innovative Artificial intelligence-driven industry-relevant SaaS solution provider.
- Comprehensive product portfolio solutions for the travel and hospitality industry.
- Strong financial performance with an established track record of successful acceleration post-acquisition.
- Diversified management team with domain expertise.
Company Promoters:
Bhanu Chopra and Megha Chopra are the company promoters.
Company Financials:
| Particulars | For the year/period ended (₹ in Millions) | |||
|---|---|---|---|---|
| 31-Aug-21 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Total Assets | 4,281.89 | 4,398.04 | 3,971.08 | 2,849.02 |
| Total Revenue | 1,312.23 | 2,640.91 | 4,576.13 | 2,727.00 |
| Profit After Tax | – 83.37 | – 285.75 | – 201.04 | 110.34 |
Objects of the Issue:
The IPO aims to utilize the net proceed towards the following purposes;
- Repayment and/or prepayment of indebtedness availed by Rategain UK.
- Make payment of deferred consideration for acquisition of DHISCO.
- Strategic investments, acquisition, and inorganic growth.
- To make investment in technology innovation, artificial intelligence, and other organic growth initiatives.
- Purchase capital equipment for the company’s data center, and
- Meet general corporate purposes.
RateGain IPO Details
| IPO Opening Date | Dec 7, 2021 |
| IPO Closing Date | Dec 9, 2021 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹1 per equity share |
| IPO Price | ₹405 to ₹425 per equity share |
| Market Lot | 35 Shares |
| Min Order Quantity | 35 Shares |
| Listing At | BSE, NSE |
| Issue Size | [.] Eq Shares of ₹1 (aggregating up to ₹1,335.74 Cr) |
| Fresh Issue | [.] Eq Shares of ₹1 (aggregating up to ₹375.00 Cr) |
| Offer for Sale | 22,605,530 Eq Shares of ₹1 (aggregating up to ₹960.74 Cr) |
| Employee Discount | 40 |
RateGain IPO Tentative Timetable
The RateGain IPO open date is Dec 7, 2021, and the close date is Dec 9, 2021. The issue may list on Dec 17, 2021.
| IPO Open Date | Dec 7, 2021 |
| IPO Close Date | Dec 9, 2021 |
| Basis of Allotment Date | Dec 14, 2021 |
| Initiation of Refunds | Dec 15, 2021 |
| Credit of Shares to Demat Account | Dec 16, 2021 |
| IPO Listing Date | Dec 17, 2021 |
RateGain IPO Lot Size
The RateGain IPO market lot size is 35 shares. A retail-individual investor can apply for up to 13 lots (455 shares or ₹193,375).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 35 | ₹14,875 |
| Maximum | 13 | 455 | ₹193,375 |
Rategain Travel Technologies Limited
M-140, Greater Kailash Part II,
New Delhi 110 048, Delhi, India
Phone: +91 120 5057 000
Email: compliance@rategain.com
Website: http://www.rategain.com/