Rategain Technologies on Monday said that the fund raise committee of the company has approved allotment of 93.31 lakh shares of face value ₹1 each to eligible qualified institutional buyers at ₹643 a share, aggregating to ₹600 crore. The allotment price is at a discount of ₹33.66 (4.97 per cent) of the floor price of ₹676.66, the company said in a notice to the stock exchanges.
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The allottees were Pinebridge Global Funds – Pinebridge India Equity Fund, Troo Capital, ICICI Prudential Mutual Fund, ICIC Prudential Innovation Fund, Kotak Mahindra Life Insurance Company, Founders Collective Fund, Sundaram Mutual Fund, Sundaram Multicap Fund (Sundaram Small Cap Fund), Bajaj Allianz Life Insurance Company, Societe Generalle and Morgan Stanley Asia (Singapore). Pursuant to the allotment, the paid-up share capital of the company increased to ₹11.78 crore from ₹10.84 crore.
Recently, RateGain Travel launched ‘World-on-Holiday’, an initiative to help micro, small, and medium-sized travel businesses and professionals across the travel industry.
The company came out with ₹1,336-crore initial public offering in 2021 at ₹425 a share.
Shares of RateGain Travel closed 0.58 per cent lower at ₹717.85 on the BSE.
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