Company Background
Founded in 2004, as a SaaS (Software As A Service) startup, RateGain now sells software for the hospitality and travel industries which help them in revenue management decision support, seamless electronic distribution and brand engagement.Bhanu Chopra and Megha Chopra are the company promoters.They have artificial intelligence capabilities to favor their customers to increase revenue for customer acquisition. RateGain has a customer base of 1,434 customers all across the hospitality, online travel agency and hotel sectors and is spread over 110 countries.
Business Information
In 2021, the company served 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. It offers a suite of products that will help different hotels and travel agencies offer their customers personalized experiences and thus help maximize their margins.The company provides data regarding availability, rates, inventory and helps provide a connection between the accommodation providers and their demand partners.
Facts about the company
The IPO has been priced in the band of Rs.405 to Rs.425 and issue size assumptions are on upper price band.
RateGain offers travel and hospitality services to the entire leisure value chain including hotels, airlines, online travel agents, car rentals etc. It follows the software as a service model for its B2B customers.
It posted losses on a net basis but kept generating cash at the gross levels.
RTTL is a leading global player in hospitality and travel under SaaS.
Points to note before investing in RateGain IPO
The issue appears aggressively priced on current financial parameters.
The company's revenues fell sharply in FY21 by 42.4% to Rs.264 crore due to the lag impact of COVID-19.
The management team is diverse with domain expertise.
It is an Artificial intelligence-driven industry-relevant SaaS solution provider.
It offers a complete suite of solutions to the travel and leisure industry and the SAAS approach enables rapid scaling up
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 |
Allotment, Listing and Refunds details
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 |
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