Private Equity

Liquidity Events

TA Associates-backed RateGain's Rs.1,336-Cr IPO oversubscribed

Economic Times  

The INR 1,336 crore initial public offer (IPO) of Noida-based RateGain Travel Technologies sailed through on the third day of the bidding process on Thursday. The issue was subscribed 17.4 times on the final day of the bidding process. It received applications for 30,20,04,780 shares against the issue size of 1,73,51,146 shares. RateGain is a player in the hospitality industry. The firm's IPO consisted of a fresh issue of INR 375 crore and an offer for sale of 2.26 crore equity shares, worth INR 960.74 crore from existing shareholders and promoters. The promoters Bhanu Chopra, Megha Chopra, and Usha Chopra will offload 54.91 lakh equity shares while investor Wagner will offload 1.71 crore equity shares through OFS. The company is selling its shares in the range of INR 405-425 apiece under the three-day book building process.

From the Venture Intelligence PE-VC Deal Database: Between Jan-15 and Aug-20, RateGain raised $42.5 M from Avataar Venture Partners and TA Associates. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)