Raysgain travel technology, the largest software as a service company (SaaS) in the hospitality industry and travel in India, has repaired RS 405-425 price ribbons per share equity for its first public offering. This problem will open to subscribe on December 7 and will continue until December 9.

The company’s anchor book is expected to be opened for a day on December 6.

Public issues consist of issuance of new shares worth RS 375 Crore and offers for sale up to 2.26.05 530 equity shares by promoters and investors.

Investors Wagner will reduce 1.71 crore equity shares, while promoter Bhanu Chopra, Megha Chopra, and Usha Chopra will sell 54.91 Equity Stocks Lakh. This offer includes a stock reservation worth RS 5 Crore for company employees who will get shares with a discount Rs 40 per share to the final problem price.

Public problems will pick up the company Rs 1,335.73 Crore on the top price ribbon.

Receipt of fresh problems will be used to repay debt available by the British sperm subsidiary; Payment of deferred considerations for the acquisition of Dhisco; and strategic investment, acquisition and inorganic growth.

The company will also take advantage of the results of acceptance for investment in technological innovation, artificial intelligence and other organic growth initiatives; Purchase certain capital equipment for data centers; and company general needs.

Investors can bid at least 35 equity shares and in multiples of 35 shares afterwards. Retail investors can invest at least RS 14,875 for one lot, and their maximum investment is Rs 1,93,375 for 13 lots.

Up to 75 percent of the size of the offer is reserved for qualified institutional buyers, 15 percent for non-institutional investors, and the remaining 10 percent for retail investors.

Raymain offers travel and hospitality solutions in various vertical spectrum including hotels, airlines, online travel agents (OTA), meta-search companies, holiday rentals, package providers, car rental, rails, cruises, and ferries. This is one of the largest aggregators from the data point in the world for the hospitality and travel industry.

Third-party travel and hospitality technology is estimated to be a market of $ 5.91 billion in 2021, growing with an estimated $ 11.47 billion in 2025 at a CAGR of 18 percent.

The company posted a consolidated loss of Rs 28.57 Crore in the FY21 financial year, against the loss of RS 20.1 Crore in the previous year. Revenue in the same year decreased to Rs 250.79 Crore from Rs 398.71 Crore.

In the period of five months ended in August 202, the loss reached Rs 8.33 Crore against the loss of Rs 7.85 Crore in the same period as the last fiscal. However, revenue from operations increased to Rs 125.27 Crore during the same period, from Rs 97.89 Crore Yoy.

Raygain will complete the allocation of IPO shares on December 14. Successful investors will get money back on their bank account on December 15 and equity stocks will be credited to the Investor Demat account that qualifies on December 16 on December 16.

This will make the debut at BSE and NSE, on December 17.

Promoters including Bhanu Chopra and Megha Chopra have 67.29 percent of share ownership in the company and the remaining shares held by public shareholders including Wagner and Avataar.

Mahindra Capital Company, IIFL Securities, and Nomura Financial Advisory and Securities (India) are books running the main manager for this problem.