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IPO-bound SaaS Company RateGain expects global acquisitions to lift profits as travel picks up

RateGain is set to become the first SaaS Company on the Indian stock markets, and has approval from SEBI for an IPO which is likely in December. Moneycontrol talked to CMD Bhanu Chopra to understand their profit focus and key metrics

November 30, 2021 / 18:08 IST
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RateGain Travel Technologies is set to become the first software as a service company (SaaS) company to list on the Indian stock markets. It has received approval from the market regulator, Securities and Exchange Board of India (SEBI), for an initial public offering (IPO) likely in December. People familiar with the development suggest the IPO could raise around Rs 1,200 crore. RateGain is selling a fresh issue of up to Rs 400 crore with an offer for sale (OFS) of up to 22.6 million shares.

Moneycontrol’s Nisha Poddar caught up with Bhanu Chopra, chairman and managing director of RateGain, to understand the profit focus and key metrics for SaaS companies. Edited excerpts:

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SaaS commands a lot of interest in the Indian market. What’s your unique selling proposition (USP)? 

If I would want to draw a comparison with traditional information technology (IT) service companies, they usually work on projects that do back-office work, dealing with the IT managers at large Fortune 500 companies, building through a particular speck. Whereas at RateGain, we actually own the intellectual property (IP) and solve an end-to-end business problem for a business user in the travel and hospital sectors; thus you know this model is a lot more scalable.