Noida, November 20, 2023: RateGain Journey Applied sciences Restricted (NSE: RATEGAIN), a world supplier of SaaS options within the hospitality and journey trade, in the present day introduced the completion of a capital improve of INR 600 crore by way of a Certified Institutional Placement (QIP) backed by institutional traders.
The fundraising committee of the board has accredited the allotment of 9,331,259 shares at a value of ₹ 643 (par worth of ₹ 1 and premium of ₹ 642).
RateGain will use the funds for strategic investments, acquisitions and inorganic development and to realize its imaginative and prescient of constructing an built-in know-how stack for the trade that can allow RateGain’s purchasers to accumulate, retain and interact visitors and develop share of pockets.
Over the previous few years, RateGain has demonstrated a profitable M&A technique that may enhance profitability and drive excessive development in all acquisitions it has made thus far, and can use this e book to additional develop and consolidate its place in journey and hospitality. trade and create operational leverage.
Commenting on the event, Bhanu Chopra, Founder and CEO, stated: “We thank traders for putting their belief in us to handle the challenges dealing with the journey trade. The know-how panorama inside journey is altering quickly, and the funding raised will assist us consolidate RateGain’s place within the trade, in addition to present our prospects with world-class AI-driven revenue-enhancing merchandise.”
About RateGain
RateGain Journey Applied sciences Restricted is a world journey and hospitality SaaS options supplier working with greater than 3,100 purchasers and greater than 700 companions in additional than 100 international locations, serving to them speed up income era by buying, retaining and rising share of pockets.*
Right now, RateGain is without doubt one of the world’s largest processors of digital transaction, pricing and journey intent information, serving to income administration, distribution and advertising groups in inns, airways, meta-search firms, package deal tour suppliers, automobile rental firms, journey administration firms, cruises and ferries obtain higher outcomes for his or her enterprise. Based in 2004 and headquartered in India, RateGain in the present day works with 23 of the highest 30 resort chains, 25 of the highest 30 on-line journey companies and all the highest automobile rental firms, together with 8 International Fortune 500 firms to unlock new income on daily basis . For extra data, go to www.rategain.com.
*As of September 30, 2023.
Ahead-looking statements
Statements on this doc that relate to future standing, occasions or circumstances, together with however not restricted to statements about plans and goals, analysis and growth progress and outcomes, potential undertaking traits, undertaking potential and goal dates for project-related points are forward-looking statements primarily based on estimates and anticipated results of future occasions on present and growing circumstances. Such statements are topic to quite a few dangers and uncertainties and don’t essentially predict future outcomes. Precise outcomes might differ materially from these anticipated within the forward-looking statements. The Firm undertakes no obligation to replace any forward-looking statements to replicate precise outcomes, modified assumptions or different elements.
Media contact
Ankit Chaturvedi
ankit.chaturvedi@rategain.com
International Head of Advertising