HomeIPORateGain Travel Technologies IPO Details

RateGain Travel Technologies IPO Details

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RateGain IPO Date, Price, GMP, Review, Allotment, Subscription, Analysis & Documents

About RateGain Travel Technologies

RateGain Travel Technologies is one of the leading distribution technology companies globally and are the largest Software as a Service (“SaaS”) company in the hospitality and travel industry in India. RateGain offer’s travel and hospitality solutions across a wide spectrum of verticals including hotels, airlines, online travel agents (“OTAs”), meta-search companies, vacation rentals, package providers, car rentals, rail, travel management companies, cruises and ferries. The company is one of the largest aggregators of data points in the world for the hospitality and travel industry.

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RateGain Travel Technologies offer a suite of inter-connected products that manage the revenue creation value chain for the customers by leveraging the big-data capabilities and integration with other technology platforms helping hospitality and travel providers acquire more guests, retain them via personalized guest experiences and seek to maximize their margins.

RateGain Travel Technologies began operations in 2004 with the introduction of a competitive intelligence price comparison product for hotels and have over the last 15 years, expanded our product portfolio to include artificial intelligence and machine learning capabilities that leverage our in-house data lake to offer products in the areas of rate intelligence, cognitive revenue management, smart distribution and brand engagement

Important Details – RateGain Travel Technologies

DateDetails
November 16, 2012The company was originally incorporated in New Delhi as ‘Ridaan Real Estate Private Limited’ as a private limited company
November 25, 2014Pursuant to a scheme of arrangement and demerger approved by the High Court of Delhi on (“Scheme of Arrangement and Demerger”), the company acquired the business of providing web-based solution to hospitality and travel sector of RateGain IT Solutions Private Limited.
February 25, 2015The name of the company was changed to ‘RateGain Travel Technologies Private Limited’
July 15, 2021The company was converted into a public limited company and consequently, the name of the Company was changed to ‘RateGain Travel Technologies Limited’

Objects of the Issue

  • Repayment/prepayment of indebtedness availed by RateGain UK, one of our Subsidiaries, from Silicon Valley Bank;
  • Payment of deferred consideration for acquisition of DHISCO;
  • Strategic investments, acquisitions and inorganic growth;
  • Investment in technology innovation, artificial intelligence and other organic growth initiatives;
  • Purchase of certain capital equipment for the Data Center; and
  • General corporate purposes

RateGain Travel Technologies Limited Financials:

Summary of financial Information (Restated Consolidated Statement)

Particulars For the year ended (₹ in millions)
  31-Mar-21 31-Mar-20 31-Mar-19
Total Assets 4,398.04 3,971.08 2,849.02
Total income 2,640.91 4,576.13 2,727.00
Total Expenses 2,887.19 4,753.75 2,632.13
Profit After Tax (285.75) (201.04) 110.34

RateGain Travel Technologies IPO Price – Details

DetailsRateGain IPO Details
Public IssueInitial Public offer of [,] Equity Shares of ₹ 1 (aggregating up to ₹ 1,335.74 Crore), comprising a fresh issue upto [.] Eq Shares of ₹ 1 (aggregating up to ₹ 375.00 Cr and offer for sale of 22,605,530 Eq Shares of ₹ 1 (aggregating up to ₹ 960.74 Cr)
Issue Open  Date07-Dec-21
Issue Close Date09-Dec-21
Issue TypeBook Building
IPO Price Band₹ 405 – ₹ 425 
Face Value ₹ 1
Market Lot 35 Equity Shares and in multiples thereof
Minimum Order Quantity 35 Equity Shares
Maximum Subscription Amount for Retail InvestorRs. 2,00,000
Listing NSE, BSE
NSE Symbol
IPO Market Timings 10.00 a.m. to 5.00 p.m.

RateGain Travel Technologies IPO DRHP & RHP

RateGain IPO DRHP
RateGain IPO RHP

RateGain Travel Technologies IPO Lot Size

ApplicationLotsNo of SharesAmount (Rs)
Minimum135₹ 14,875
Maximum13455₹ 1,93,375

RateGain IPO Lead Managers

  • Kotak Mahindra Capital Company Limited
  • IIFL Securities Limited
  • Nomura Financial Advisory and Securities (India) Private Limited

RateGain IPO Registrar

Company Promoters

  • Bhanu Chopra
  • Megha Chopra

RateGain IPO Allotment Date, Listing Date and other Important Dates

DetailsDate
Bid / Offer Opens on07-Dec-21
Bid / Offer Closes on09-Dec-21
Finalisation of Basis of Allotment14-Dec-21
Initiation of refunds 15-Dec-21
Credit of the Equity Shares16-Dec-21
Listing Date17-Dec-21

Company Peers – Comparison of Accounting Ratios

There are no listed companies in India that engage in a business similar to that of the company. Accordingly, it is not possible to provide an industry comparison in relation to the company

Company Corporate Office

4th and 5th Floor, Prius Global,
Plot No. A-3,4,5, Sector 125,
Noida 201 301,
Uttar Pradesh, India;
Website: www.rategain.com

Company Registered Office

M-140, Greater Kailash Part II,
New Delhi 110 048,
Delhi, India

RateGain Travel Technologies IPO – FAQS

What is the RateGain IPO Price?

The RateGain IPO price band is ₹ 405 – ₹ 425 per share

When RateGain IPO will open?

The RateGain IPO opens on Dec 07, 2021 and closes on Dec 09, 2021

What is the lot size of RateGain IPO?

The RateGain IPO lot size is 35 Equity Shares and the minimum order quantity is 35 Equity Shares

Who is the Registrar for RateGain IPO?

The Registrar for RateGain IPO is KFin Technologies Private Limited

How to apply in RateGain IPO through UPI?

Check the step by step process here – Click here

How to apply in RateGain IPO through Zerodha?

Check the step by step process here – Click here

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5 COMMENTS

  1. This is the era of tech, internet and AI. The valuation will sustain.Covid-19 has accelerated the digitization process of customer interactions with hospitality and travel companies. These changes will lead to a shift in business practices by T&H companies from an in-house solution model to third party software and services model. RateGain serves a large, rapidly-growing market. 3rd party T & H technology can clock CAGR of 18% over the next 5 years. This and indicates healthy growth in long run. High growth potential, unique business propositions with little to no competition and valuation comfort – Reliance Securities recommends SUBSCRIBE with a long-term perspective.
    I too think it’s a good bet.

  2. Rate Gain has 3 SBUs. This one seems promising according to a Religare report I recently read. So I leaving it here for everyone to read:
    RatgeGain provides competitive intelligence and parity intelligence to help hotels and travel suppliers stay competitive and optimize their revenues. Their competitive intelligence products tracked over 3.61 billion price points across over 2,900 hotels, OTAs, airlines, cruise lines and car rentals in the 6 months ended September 30, 2021 and covers points such as pricing, ratings, rankings, availability, room descriptions, cancellation policy, payment policy, discounting and package inclusions. They operate a subscription model where the customers in the hospitality and travel sector subscribe to their DaaS products such as Optima and Parity+. Active Customers in their DaaS business have grown from 945, as of March 31, 2019 to 1,083 Active Customer, as of March 31, 2020 and to 1,160 Active Customers, as of March 31, 2021 while as of September 30, 2021, they had 1,406 Active Customers.

  3. Still there are people talking negative about the loss and I want to clear one thing – this is because Rategain was acquiring new software when whole world was locked down and industry was down. This was a good time to buy and invest and now they are reaping the rewards with improved margin and better foothold. World has not yet opened completely but it has already recovered 30% of its revenue. It’s EBITDA is positive, it is cash positive, customer has increased yoy and excellent revenue retention rate.

  4. RateGain has managed to get Rs. 598 CR from anchor investors ahead of its IPO as per a Moneycontrol article. This is very positive and has built the confidence of many in this company. It’s acquisition-led strategy in the COVID-19 lockdown years, it’s lack of competitors, it’s reasons to go for the IPO and its growth trajectory – All see promising and it is a sure multibagger.

  5. The loss that people are seeing is because of the impact of impairment. The numbers changed to unfavorable Rs. 28.57 crore for FY21 and unfavorable Rs. 8.33 crore for 5 months ended August 21. The firm reported revenues of Rs. 264 crore for FY2021 and a PAT before the goodwill impairment of Rs. 7.5 crore. The revenues for 5 months ended August 2021 were Rs. 131.22 crore and a PAT of Rs 4.57 crore before impairment. The losses seen in the recent financials of RateGain are on account of the acquisition done by the company in the course of the last two years and the impairment of goodwill on the same.
    Losses for a SaaS company in a growth stage are not unusual as profits are more backend loaded.

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