RateGain IPO Subscription Status: LIVE
RateGain, incorporated in 2004, is among the leading distribution technology companies globally and is the largest Software as a Service (“SaaS”) company in the hospitality and travel industry in India. They offer travel and hospitality solutions across a wide spectrum of verticals including hotels, airlines, online travel agents (“OTAs”), meta-search companies, vacation rentals, package providers, car rentals, rail, travel management companies, cruises, and ferries
| Investor Category | Quota | Subscription |
|---|---|---|
| Institutional (QIB) | 75% | 8.42x |
| Non-Insti. (HNI) | 15% | 42.04x |
| Retail (RII) | 10% | 8.08x |
| Employee | 1.37x | |
| Total Subscription | 100% | 17.41 |
09 Dec 2021 | 5:00 PM
RateGain IPO Subscription: Analyst Recommendations
RateGain – Subscribe for Longterm
“High revenue concentration from top clients is a key risk for RateGain, The price band of Rs 405-425 implies P/S of 18x on FY21 sales of Rs 250 crore. Global vertical SaaS peers are trading at P/S of ~14x FY21 sales. We believe premium valuations are justified given its superior non-replicable product portfolio and highly predictable, scalable, and profitable business model,”
Mehta Securities – Subscribe for Longterm
“At this juncture, the issue appears to be aggressively priced on negative earnings status and may generate interest in investors for first-mover advantage post-listing, Overall negative earnings status is a concern as of now but growth prospects are optimistic in nature. Only risk-seeking investors can consider subscribing to the IPO with a long-term perspective”
Arihant Capital – Subscribe
“Though RateGain has been making losses from FY20, it is a market leader in social media solutions with a loyal customer base and has a diversified management team with domain expertise,”
RateGain IPO Subscription: End of Day Update
| Day | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.00x | 0.00x | 8.42x |
| HNI |