Rategain Travel Technologies on November 20 said the company has raised Rs 600 crore from qualified institutional buyers (QIBs) allotting 93.31 lakh shares. The company said it allotted shares at Rs 643, at 4.97 percent discount to discovered floor price of the issue.
Among those that invested in the company include Pinebridge Global Funds, Troo Capital, ICICI Prudential MF, Kotak Mahindra Life Insurance, Founders Collective Fund, Sundaram MF, Bajaj Allianz Life Insurance, Societe Generale - ODI, and Morgan Stanley Asia were prominent ones.
“Pursuant to the allotment of Equity Shares in the Issue, the paid-up equity share capital of the Company stands increased from Rs 10,84,46,554 consisting of 10,84,46,554 Equity Shares of Rs 1 each to Rs 11,77,77,813 consisting of 11,77,77,813 Equity Shares Rs 1 each,” the company said in an exchange filing.
Also read: Rategain Travel Tech slumps 4% after QIP launch to raise Rs 600 crore
The qualified institutional placement (QIP) opened for subscription on November 15, 2023 and closed on November 20, 2023.
Shares of the company ended the day at Rs 717.85 on the BSE. That means, the QIBs who bought shares during the QIP are sitting at cool 12 percent gains within a few days.
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