RateGain Travel Technologies’ IPO will open for subscription on December 7Software as a service (SaaS) provider to the hospitality and travel industry, RateGain Travel Technologies Limited’s initial public offer (IPO) is all set to open tomorrow on Tuesday, December 7. The issue will close on December 9.In the Rs 1,335.7-crore IPO, shares will be offered at Rs 405-425 each (at a face value of Rupee 1). It consists of a fresh issuance of shares worth Rs 375 crore and an offer for sale of up to 22.6 million shares by the promoters and existing investors.Up to 75 per cent of the issue is reserved for qualified institutional buyers, 15 per cent for non-institutional investors and 10 per cent for retail investors.Promoters’ shareholding stands at 65.4 percent, which will come down to 55 percent after the issue.Investors can bid for a minimum lot size of 35 equity shares and in multiples of 35 shares thereafter. The minimum retail investment is Rs 14,875 for one lot of 35 shares, while the maximum is Rs 1,93,375 for 13 lots.Allotment of shares is expected to take place on December 14, while RateGain’s shares will be listed on the stock exchanges on December 17.
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