Rategain Travel Technologies IPO listing at 15.29% discount

Rategain Travel Technologies had a weak listing on 17th December and listed at a discount of -15.29%, and closed the day deeper in the red. The stock did make a feeble attempt to bounce back during the day but could not hold on to higher levels and the sharp crack on the Nifty and Sensex only accentuated it. 

With 17.41 times subscription and a mild premium in the grey market, Rategain Travel Technologies was expected to list and trade at a mild premium. However, that was not the case. Here is the Rategain Travel Technologies listing story on 17-Dec.

The IPO price was fixed at the upper end of the band at Rs.425 which was understandable considering that the issue was subscribed 17.41 times overall with robust contribution from the HNI segment, followed by the retail and QIB segments. 

The price band for Rategain Travel Technologies IPO was Rs.405 to Rs.425. On 17th Dec, the stock of Rategain Travel Technologies listed on the NSE at a price of Rs.360, a discount of -15.29% on the issue price of Rs.425. On the BSE also, the stock listed at Rs.364.80 a discount of -14.16% on the issue price.

On the NSE, Rategain Travel Technologies closed on 17-Dec at a price of Rs.337.55, a first day closing discount of -20.58% on the issue price of Rs.425. However, the closing price was -6.24% below the listing price. 

On the BSE, the stock closed at Rs.340.50, a first day closing discount of -19.88% on the issue price, but -6.66% below the listing price. On both the exchanges, the stock listed at a steep discount to the issue price, and during the day the discount deepened further, largely on account of the weak sentiments in the market.

On Day-1 of listing, Rategain Travel Technologies touched a high of Rs.383 on the NSE and a low of Rs.333.85. The discount over issue price widened through the day. On Day-1 of listing, the Rategain Travel Technologies stock traded a total of 182.47 lakh shares on NSE amounting to value of Rs.659.30 crore.  On 17-Dec, Rategain Travel Technologies was the 19th most active share on NSE by traded value.

On the BSE, Rategain Travel Technologies touched a high of Rs.382 and a low of Rs.334.10. On BSE, the stock traded a total of 7.58 lakh shares amounting to value of Rs.27.43 crore. Rategain was not among the most active stocks on the BSE in terms of trading value.

At the close of Day-1 of listing, Rategain Travel Technologies had a market capitalization of Rs.3,635.11 crore with free-float market cap of Rs.581.62 crore.

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