|
RateGain Travel Technologies Ltd. has announced public offering of 31429058 shares at a price of Rs 1.00 each for Cash at a Premium of Rs 424.00 per share.
The gross proceeds of the issue are expected to be Rs 1,33,573.50 lakhs. The company's initial public offer (IPO) will open on 07 December 2021 and is expected to close on 09 December 2021, subject to customary closing conditions.
The price band of the issue has been fixed at Rs 405.00-425.00 per share. The IPO includes a fresh Issue of 31429058 Equity Shares of the Company at an price of Rs 425.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 35 shares with bids in multiples of 35.
RateGain Travel Technologies Ltd. anticipates using the proceeds of the issue for Repayment/prepayment of indebtedness availed by RateGain UK, one of the 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 General corporate purposes.
Kotak Mahindra Capital Company Ltd.,Nomura Financial Advisory & Securities (I) P Ltd.,IIFL Securities Limited as lead manager(s) & KFIN Technologies Pvt. Ltd. is the registrar, to the issue.
|
