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RateGain Travel Technologies IPO subscribed 19% on day 1

The initial public offering of RateGain Travel Technologies, the travel and hospitality solutions provider, has been subscribed 19 percent so far on December 7, the first day of bidding, as it received bids for 33 lakh equity shares against an IPO size of 1.73 crore units.

The offer size has been reduced to 1.73 crore equity shares from 3.18 crores after the company mopped up Rs 598.83 crore from anchor investors ahead of IPO opening.

The reserved portion of retail investors was subscribed 1 time and that of employees saw 2 percent subscription.

Non-institutional investors and qualified institutional buyers are yet to put in their bids for the offer.