RateGain Travel Technologies, a SaaS company in the travel and hospitality sector, initiated a qualified institutions placement (QIP) to secure Rs 600 crore in funds. The plan involves raising Rs 400 crore through a base issue and an additional Rs 200 crore via a greenshoe option. The company's fund raise committee, in a meeting on November 15, sanctioned the QIP. As per the company's filing on BSE, the floor price for the QIP was fixed at Rs 676.66 per equity share.

"The filing stated that the company has the option to offer a discount of up to 5 percent on the calculated floor price for the issue. The company will determine the final issue price in coordination with the appointed book-running lead managers", as mentioned in the document. RateGain had previously garnered approximately Rs 1,336 crore through its initial public offering (IPO) in 2021, setting the IPO price band between Rs 405 and Rs 425 per share. Prior to the public subscription commencement, the company secured Rs 598.83 crore from 34 investors.

Founded in 2004 by Bhanu Chopra, RateGain specializes in a SaaS platform catering to revenue management, reputation management, and online distribution specifically for hotels. Its services encompass a wide spectrum, including collaboration with airlines, online travel agencies, meta-search firms, vacation rental and package providers, as well as car rental companies.