RateGain Travel Technologies Limited (“RateGain” or the “Company”), a company among the leading distribution technology companies globally and the largest Software as a Service (“SaaS”) company in the hospitality and travel industry in India, filed its DRHP with SEBI.
RateGain offers 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.
The Initial Public Offering (IPO) comprises equity shares of face value of ₹1 each (“Equity Shares”) of RateGain Travel Technologies Limited, comprising a fresh issue aggregating up to ₹4,000.00 million and an offer for sale of up to 22,605,530 equity shares. The Offer for Sale comprises of 17,114,490* equity shares by Wagner Limited (“Investor Selling Shareholder”); up to 4,043,950 equity shares by Bhanu Chopra and up to 1,294,760 equity shares by Megha Chopra (“Promoter Selling Shareholders”); and up to 152,330 equity shares by Usha Chopra (“Other Selling Shareholder”).
The Net Proceeds from the Fresh Issue are proposed to be utilized for the following objects: (i) Repayment/prepayment of indebtedness availed by RateGain UK, one of the Subsidiaries, from Silicon Valley Bank; (ii) Payment of deferred consideration for acquisition of DHISCO; (iii) Strategic investments, acquisitions and inorganic growth; (iv) Investment in technology innovation, artificial intelligence and other organic growth initiatives; (v) purchase of certain capital equipment for Data Center; and (vi) General corporate purposes.
BOOK RUNNING LEAD MANAGERS to the issue: Kotak Mahindra Capital Company Limited, IIFL Securities Limited and Nomura Financial Advisory and Securities (India) Private Limited are the BRLMs to the offer.
The equity shares will be listed on BSE and NSE.
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