RateGain Travel Technologies is a software as a Service ('SaaS') company in the hospitality and travel industry in India and a distribution technology company operating globally. The company offers travel and hospitality solutions across travel verticles including hotels , airlines , online travel agents ("OTAs") , meta- search companies , vacation rentals , package providers , car rentals , and travel management companies.
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Key Highlights
1. About the company
2. Promoters of the company
3. About the promoters
4. Company contact details
5. Competitors of the company
6. Company's strength or risks
7. Company Financials
8. IPO Details
9. Subscription Status
10. Lead managers
11. Listing Price of RateGain IPO
1. About the Company
RateGain is a SaaS company in the hospitality and travel industry offering solutions across a wide spectrum of verticles including hotels , airlines , online travel agents , meta-search companies , vacation rentals etc. As of march 31, 2021 , Company have 1434 customers , Gross margin nearly 79.5 % ,Recurring revenue 95% - 97% . ( All data's from company website RateGain )
Company was originally incorporated in New Delhi as ' Ridaan Real Estate Private limited ' as private company under the companies act, 1956 , pursuant to certificate of incorporation dated november 16, 2012 , issued by the registrar of companies , National Capital Territory of Delhi and Haryana at new delhi ("RoC") . Pursuant to a scheme of arrangement and demerger approved by highcourt of delhi on november 25, 2014 . Company change its name to RateGain travel technologies at 25 feb 2015.
2. Promoters of the Company
Bhanu chopra and megh chopra are the promoters of the company . As on the date when company decide to go public , company promoters holds 64,064,520 Equity share , comprising 81.50% of the pre offer issued , subscribed and paid up equity share capital of the company.
3. About the promoter
Bhanu Chopra - Bhanu is 45 years old ,he is the chairman and Managing director of the company . His residential address is Delhi . He is an Entrepreuner with experience of over 15 years and has been actively involved in the company work since starting. He holds a master's degree in finance and computer science from indiana university , after which he began his career with Deloitte in 1998.
Megha Chopra - Megha is 41 years old. Megha is an Executive director of the company. She is an entrepreuner with more than eight years of experience in company. She holds a diploma in family business management from narsee monjee innstitute of management studies , mumbai. Before joining RateGain , she worked with HCL infosystems limited. Bhanu and Megha both are married.
Other promoters of the company
• Nishant kanuru Rao
• Girish paman vanvari
• Aditi Gupta
• EC rajakumar konduru
4. Company Contact Details
Registered Office : M- 140 ,Greater Kailash part 2 , new delhi 110 048 , Delhi , India
Corporate Office : 4th and 5th floor , prius Global , plot no . A- 3,4,5, sector 125 ,noida 201 301 , uttar pradesh , India
Contact person : Sachin verma company secretory and compliance officer
Tel : + 91 120 5057 000
E-mail : compliance@rategain.com
Website : www.rategain.com
5. Competitors of the Company
1. Freshworks
2. Browserstack
3. Gupshup
4. HighRadius
5. Chargebee
6. Innovaccer or more
6. Company's Strengths and Risks
Strenths :-
1. As of june 30, 2021 , the company's base of 1434 customers included eight Global fortune 500 companies.
2. Growing customer base from 1,190 active customersas of march 31 , 2019 to 1434 active customers as of june 30 , 2021.
3. Enterprise customers accounted for 82.47% , 85.47% and 78.88% of the total revenue.
4. Seven of the compamy's top 10 customers have been associated with it ovee 10 years
5. As of june 30, 2021 , the company covered over 1,90,000 hotels properties ,and processed 7.46 million bookings through its channels.
Risks :-
1. Factors such as covid induced lockdown and movement restriction can negatively impact the travel industry and could impact company's business
2. The company's customers typically ared not obligated to renew , upgrade , or expand their contracts with the company , which may lead to low customer retention rate
3. The market for SaaS solutions in the hospitality and travel indistry is new and is yet to evolve into an organised industry
4. A large portion of the company's revenues come from a limited number of markets and unfavourable developments in these markets could affect the business
5. Exchange rate flactuation may adversely affect the business as a portion of its revenue are denominated in foreign currencies
6. In fiscals years 2020 and 2021 , the company had losses for the year of Rs. 20.10 crore and Rs. 28.57 crore , respectively
7. Company Financials
8. IPO Details
Open date : 7 December 2021
Close Date : 9 December 2021
Face value : 1 Rs.
Listing plateform : NSE & BSE
Price bands : Rs. 405 - 425
Minimum order Quantity : 35
Lot size : 35
Allotement Dates : 14 December 2021
Initiation of funds : 15 December 2021
Listing Date : 17 December 2021
Issue Size : 1335.74 cr.
Gmp : 125 Rs.
Max. Lot : 13
Mini. Lot : 1
9. Subscription Status
Retail individual Institutional : 8.08x
Non- institutional investor : 42.04x
Qualified institutional buyers : 8.42x
Employees : 1.37x
10. Book Running Lead Managers
1. Kotak Mahindra Capital Company Limited
Address : 27 BKC 1st , plot no. C-27 , G Block Bandra kurla complex , bandra (east) mumbai 400 051 Maharastra , India
Tel : +91 22 4336 0000
E-mail : rategain.ipo@kotak.com
Contact person : Ganesh Rane
Website : www.investment.kotak.com
SEBI registered no. - INM000008704
2. IIFL Securities Limited
Address : 10th floor , IIFL Centre kamala city , senapati marg lower parel (west) mumbai 400 013 Maharastra , India
Tel : +91 22 4646 4600
E-mail : rategain.ipo@iiflcap.com
Contact Person : Devendra Maydeo / keyur ladhwala
Website : www.iiflcap.com
SEBI registered no. : INM000010940
3. Nomura financial advisory and securities (india) private limited
Address : Ceejay house , level 11 plot F , shivasnagar Estate Dr Annie besant road , worli , mumbai 400 018 , Maharastra , India
Tel : +91 22 4037 4037
E-mail : rategainipo@nomura.com
Website : www.nomuraholdings.com
SEBI registered no. INM000011419
11. Listing Price of RateGain IPO
Rate Gain travel technologies Ltd listed at ₹ 360 with 15.29% loss.