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HomeBusinessRategain Travel concludes QIP share raise worth Rs 600 crore

Rategain Travel concludes QIP share raise worth Rs 600 crore

Rategain Travel Technologies Ltd, a global provider of SaaS solutions in the hospitality and travel industry, on Tuesday said it has completed the capital raising of Rs 600 crore through a qualified institutional placement (QIP), with the support of institutional investors, PTI told. According to the report, the fundraising committee of the board of directors approved the allotment of 9,331,259 shares at a price of Rs 643 each (Rs 1 face value and Rs 642 premium).

The funds will be used for strategic investments, acquisitions and inorganic growth and realizing its vision of building an AI-powered integrated technology stack for the industry that empowers Rategain’s clients to acquire, retain and engage guests. -Will allow expansion on wallet share.

Bhanu Chopra, Founder and Managing Director, RateGain, said, “We thank investors for trusting us to solve the challenges facing the travel industry. The technology landscape within travel is rapidly changing and mobilization The funds raised will help us strengthen RateGain.” Positioning itself in the industry as well as providing world-class AI-based products to our customers to maximize revenue.”

Over the last few years RateGain has demonstrated a successful M&A playbook that has been able to improve profitability and drive high growth in all acquisitions made to date and will utilize this playbook to grow and strengthen its position in the travel and hospitality industry. Will do to strengthen. And create operating leverage.

Rategain Travel Technologies is a global provider of SaaS solutions for travel and hospitality that works with over 3,100 customers and 700 partners in over 100 countries helping them accelerate revenue generation through acquisition, retention and wallet share expansion. Helps.

On Tuesday, shares of Rategain Travel Technologies were trading 0.10 per cent higher at Rs 718.60 on the BSE at 12.30 pm.

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