Shardul Amarchand Mangaldas advised RateGain Travel Technologies Limited on its Qualified Institutions Placement of equity shares aggregating to ₹600 crore

November 22, 2023

Shardul Amarchand Mangaldas advises RateGain Travel Technologies Limited on its Qualified Institutions Placement (QIP) of 9,331,259 equity shares of face value of ₹1 each, priced at ₹643 per Equity Share, including a premium of ₹642 per Equity Share, aggregating to ₹600 crore. The placement document was filed with BSE Limited and National Stock Exchange of India Limited on 20 November 2023.

RateGain is a leading global provider of Software as a Service (“SaaS”) solutions in the hospitality and travel industry.

The transaction team was led by Prashant Gupta, Partner, National Practice Head – Capital Markets; Ajo Jomy, Senior Associate; Shwetank Sharma, Senior Associate; Sridutt Mishra, Associate; and Ishan Sehgal, Associate.

J. Sagar Associates (Mumbai) and Hogan Lovells Lee & Lee advised IIFL Securities Limited and Axis Capital Limited (“Lead Managers”) on the Indian legal aspects and international selling and transfer restrictions, respectively.