Rategain Travel Technologies Limited IPO: Dec 7, 2021
Rategain Travel Technologies is one of the leading distribution technology companies globally and the largest Software as a Service (SaaS) provider in the travel and hospitality industry in India. The firm offers travel and hospitality services across different verticals like hotels, airlines, online travel agents, meta-search companies, package providers, car rentals, cruises, and ferries. The business provides inter-connected products to manage the revenue creation value chain leveraging big data capabilities and integration and over the period, expanded product portfolio to artificial intelligence and machine learning capabilities.
Rategain Travel delivers travel and hospitality technology solutions through the SaaS platform through 3 business units; 1. Data as a Service (DaaS), 2. Distribution, and 3. Marketing Technology (MarTech). As of June 30 2021, the business serves over 1400 customers including 8 Global Fortune 500 Companies. Six Continents Hotels, InterContinental Hotels Group, Kessler Collection, Lemon Tree Hotels, Oyo Hotels, and Homes Pvt Ltd are some of the marquee customers served by the company.
Objects of the Issue:
The IPO aims to utilize the net proceed towards the following purposes;
- Repayment and/or prepayment of indebtedness availed by Rategain UK.
- Make payment of deferred consideration for acquisition of DHISCO.
- Strategic investments, acquisition, and inorganic growth.
- To make investment in technology innovation, artificial intelligence, and other organic growth initiatives.
- Purchase capital equipment for the company's data center, and
- Meet general corporate purposes.
Competitive strengths:
- Strong customer base with 1434 customers including 8 Global Fortune 500 Companies as of June 30, 2021.
- Innovative Artificial intelligence-driven industry-relevant SaaS solution provider.
- Comprehensive product portfolio solutions for the travel and hospitality industry.
- Strong financial performance with an established track record of successful acceleration post-acquisition.
- Diversified management team with domain expertise.
Company Promoters:
Bhanu Chopra and Megha Chopra are the company promoters.
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