Travel Tech Services Firm, RateGain Plans IPO For ₹1,200 Crore
- ByStartupStory | June 19, 2021
RateGain enables travel and hospitality firms in revenue management, e-distribution, and brand engagement. Moreover, it claims to support more than 250,000 hotel properties worldwide, by providing 240 billion rate and availability updates and handling more than 30 million bookings every year. Travel and hospitality technology services provider RateGain Travel Technologies Pvt. Ltd is planning an initial public offering (IPO). In the coming quarters, RateGain will join a list of companies headed for the capital markets.
In 2015, private equity firm TA Associates invested $50 million in the company, which provides software-as-a-service products. The firm, which was established in 2004, claims its services are used by more than 25 out of the top 30 online travel agencies, hotel chains, tour operators and airlines in India.
The company’s plans will lead it to seek a public listing from the travel sector. Low-fare carrier Go Airlines (India) Ltd of the Wadia Group filed its draft prospectus with the market regulator last month for an initial share sale to raise up to ₹3,600 crore. Furthermore, Online travel portal ixigo aims to go public and is expected to raise ₹750 crore through a primary issue of shares as part of its ₹1,500-1,800 crore IPO expected later this fiscal. EaseMyTrip (Easy Trip Planners Ltd) raised ₹510 crore through its IPO in March.
Follow Startup Story
Related Posts
