RateGain IPO witnessed bids for more than 30 crore shares and was oversubscribed 17.41 times. The retail investors and QIBs bid for more than eight times their allotted portions.
Investors had bid for 59.19 lakh equity shares against an IPO size of 1.73 crore units. The portion reserved for retail investors had been subscribed 1.87 times.
The IPO comprises a fresh issue of equity shares aggregating up to Rs 375 crore and an offer-for-sale (OFS) of up to 2.26 crore equity shares by promoters and existing shareholders.
RateGain Travel Technologies stock listed at Rs 364.80, a decline of 14.16 per cent from the issue price on the BSE. It further tumbled 19.45 per cent to Rs 342.30.
The Rs 1,335 crore-IPO of the travel and hospitality technology services provider will conclude on December 9. It consists of an offer for sale of Rs 960.74 crore and a fresh issue of Rs 375 crore.
RateGain IPO witnessed a positive and robust response from the retail investors and the portion was subscribed 4.86 times (486 per cent). It had fixed a price band of Rs 405-425 a share.