Mumbai: Travel and hospitality technology services provider Rategain Travel Technologies Ltd has filed draft papers for its proposed initial public offering (IPO) with markets regulator Sebi, joining the long queue of companies that are aiming to go public amid buoyant primary market activity. Mint first reported in June that Rategain was working on an IPO. TA Associates holds 22.8% stake in the company currently and is selling a significant portion of its shares in the IPO. Rategain’s revenue fell to Rs250.7 crore in FY21 due to the impact of covid-19 on the travel industry. Investment banks Kotak Mahindra Capital, IIFL and Nomura are advising Rategain on the IPO.

Source: Mint August 17, 2021 11:26 UTC