Rategain Travel Tech slumps 4% after QIP launch to raise Rs 600 crore

Axis Capital and IIFL Capital have been appointed to manage the issue, said CNBC TV-18.

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26 Aug, 2025 12:21

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Shares of Rategain Travel Technologies slumped over 4 percent in opening trade on November 16, a day after the company launched a qualified institutions placement (QIP) to raise funds. The floor price for the issue has been set at Rs 676.66 per share, reflecting a 5 percent downside from November 15's closing price.

At 09.40 am, shares of Rategain Travel were trading 1.6 percent lower at Rs 700.80 on the National Stock Exchange.

“The company may offer a discount of not more than 5 percent on the floor price so calculated for the issue. The issue price will be determined by the company in consultation with the Book Running Lead Managers appointed in relation to the issue,” said Rategain in an exchange notification.

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According to CNBC TV-18 sources, the company plans to raise Rs 600 crore via QIP while keeping the greenshoe option open for an oversubscription of Rs 200 crore. This will lead to 8 percent equity dilution through the QIP.

Axis Capital and IIFL Capital have been appointed to manage the issue.

The company also reported a stellar quarterly earnings for the July-September period, with net profit more-than-doubled on year to Rs 30.04 crore while revenue surged nearly 90 percent to Rs 234.72 crore. In the quarter gone by, the company also showcased strong operational performance and resilient demand across verticals.

The stock has also been a multibagger, delivering returns of over 145 percent in the year-to-date.

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