Rategain Travel makes a weak debut, lists at 15% discount

Mumbai: Travel and hospitality solutions provider Rategain Travel Technologies made a weak debut on the bourses on Friday as it listed at ₹364.80, a 15% discount to the IPO price of ₹425 per share. The stock extended losses to end the day at ₹340.50, down nearly 20% from the IPO price.

"Weak market sentiments and possibility of travel restrictions due to Omicron variant will affect Rategain stock in short term but our long-term outlook remains positive," said Piyush Nagda, head - investment products at Prabhudas Lilladher.

The company's IPO ran from December 7 to 9, ending with a total subscription of 17.4 times. Non-institutional investors' portion was subscribed 42 times and qualified institutional buyer's portion was subscribed 8.4 times. The quota set aside for retail investors was subscribed 8.1 times and the employee portion was subscribed 1.4 times.


The company had raised ₹1,335.7 crore through the IPO. The offer included a fresh issue of ₹375 crore and an offer for sale of ₹960.74 crore by investors and promoters.