- Rategain Travel Technologies raised over ₹600 crore from Qualified Institutional Buyers (QIBs) in a share placement.
- The board approved the allotment of 93,31,259 shares at ₹643 per share, resulting in an 8% equity dilution.
- Despite a 1% fall in share price on NSE, the company’s planned share sale values at ₹600 crore.
- Prominent investors in the company include Pinebridge Global Funds, ICICI Prudential MF, and Morgan Stanley Asia.
- QIBs who participated in the QIP enjoyed a 12% profit as the stocks concluded at ₹717.85 on the BSE.
- RateGain reported robust financial results with an 88% growth in revenue and a 132% increase in net profit for the September quarter.
- As of September, the company maintains a robust balance sheet with ₹424 crore in cash and cash equivalents.
Subscribe To Our Free Newsletter |