Rategain Travel Technologies IPO - Subscription Day 3

Rategain Travel Technologies IPO - Subscription Day 3

by 5paisa Research Team Last Updated: Dec 13, 2022 - 05:52 pm 43.6k Views

The Rs.1,335.74 crore IPO of Rategain Travel Technologies, consisting of a fresh issue of Rs.375 crore and an offer for sale (OFS) of Rs.960.74 crore, had seen tepid response on Day-1 and Day-2 of the IPO. As per the combined bid details put out by the BSE at the close of Day-3, Rategain Travel Technologies IPO was subscribed just 17.41X overall, with strong demand coming only from the HNI segment followed by the QIB and the retail segment. The issue has closed for subscription on Thursday, 09th December.

As of close of 09th December, out of the 173.51 lakh shares on offer in the IPO, Rategain Travel Technologies saw bids for 3,020.05 lakh shares. This implies an overall subscription of 17.41X. The granular break-up of subscriptions was dominated by the HNI / NII investors.

The QIB response and the retail response was also robust. On the last day of bidding, the NII bids and the QIB bids built up substantial momentum to give a reasonable close. 

Rategain Travel Technologies IPO Subscription Day 3



Subscription Status

Qualified Institutional Buyers (QIB)

8.42 Times

Non Institutional Investors (NII)

42.04 Times

Retail Individuals

8.08 Times


1.37 Times


17.41 times


QIB Portion

Let us first talk about the pre-IPO anchor placement. On 06th December, Rategain Travel Technologies did an anchor placement of 1,40,90,136 shares at the upper end of the price band of Rs.425 to 34 anchor investors raising Rs.598.83 crore, representing 44.83% of the total issue size. 

The list of QIB anchors included a number of marquee international names like Government of Singapore, Monetary Authority of Singapore, Nomura Fund, Ashoka India Fund, Goldman Sachs, Pinebridge and Tantallon. Domestic investors in the anchor placement included ICICI Pru MF, Axis Mutual Fund, Aditya Birla Sun Life MF, Sundaram Mutual Fund, SBI Life Insurance, ICICI Pru Life Insurance and HSBC India Mutual Fund.

The QIB portion (net of anchor allocation as explained above) has a quota of 93.93 lakh shares of which it has got bids for 790.85 lakh shares at the close of Day-3, implying 8.42X subscription for QIBs at the close of Day-3. QIB bids entirely got bunched on the last day but the solid response in the anchor placement had hinted at institutional appetite for the IPO.

HNI / NII Portion

The HNI portion got subscribed 42.04X (getting applications for 1,974.52 lakh shares against the quota of 46.97 lakh shares). This is a relatively strong response at the close of Day-3 and this segment almost saw the entire response bunched on the last day. Typically, the funded applications and corporate applications, come in on the last day of the IPO only.

Retail Individuals

The retail portion was subscribed a healthier 8.08X at the close of Day-3, showing strong retail appetite; as has been the general trend with smaller sized IPOs. It must be noted that retail allocation is just 10% in this IPO.

For retail investors; out of the 31.31 lakh shares on offer, valid bids were received for 252.90 lakh shares, which included bids for 193.10 lakh shares at the cut-off price. The IPO is priced in the band of (Rs.405-Rs.425) and has closed for subscription on 09th December 2021.

Also Read:-

Upcoming IPOs in 2021

Upcoming IPOs in December 2021

How do you rate this blog?


Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.

Open Free Demat Account

Resend OTP
Please Enter OTP
Account belongs to

By proceeding, you agree to the T&C.

Latest Blogs
Nifty Outlook for 8 June 2023

Post consolidating in a range for the last few days, Nifty resumed its uptrend and rallied higher led by broader market participation. The index surpassed the 18700 mark and ended well above that with gains of around seven-tenths of a percent.

  • Jun 07, 2023
Bearer Cheque

Introduction A bearer cheque is an efficient and adaptable financial tool. It is a method of payment where the cheque is made out to the owner or bearer of the document. Bearer cheques enable the holder to cash or deposit the cheque without any requirement for identification or endorsement, in contrast to other cheques payable to a specific person or business.

  • Jun 06, 2023
Best Indicators for Intraday Trading

Introduction Intraday trading, also known as day trading, is a fast-paced trading strategy where traders aim to take advantage of short-term price fluctuations in financial markets. To succeed in this highly competitive arena, traders rely on various best indicators for intraday to make informed decisions and maximize their chances of profitability.

  • Jun 06, 2023

Start Investing Now!

Open Free Demat Account in 5 mins

Enter Valid Mobile Number