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HomeTravel StartupsRateGain Gets SEBI Nod For IPO, Aims To Raise INR 400 Cr...

RateGain Gets SEBI Nod For IPO, Aims To Raise INR 400 Cr Via Fresh Issue

The travel tech startup filed its DRHP in August 2021

The offer includes an offer for sale (OFS) of up to 22,605,530 shares

Promoters hold 68.35% stake in the company

The Securities and Exchange Board of India (SEBI) has approved the initial public offering (IPO) of travel tech startup RateGain.

The Noida-based travel and hospitality software-as-a-service (SaaS) startup filed its draft red herring prospectus (DRHP) in August 2021. Its offer includes a fresh issue worth up to INR 400 Cr and an offer for sale (OFS) of up to 22,605,530 shares.

In the OFS, private equity firm TA Associates, will offload up to 1,71,14,490 shares for sale through its associate Wagner. RateGain founder and CEO Bhanu Chopra will be offloading 40,43,950 shares. 

With SEBI’s approval, RateGain has joined a number of tech-backed startups which are on their way to hit the public markets.

The founder’s family members Megha Chopra and Usha Chopra have offered to sell up to 12,94760 and up to…

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