How has been the subscription response been to the IPO of Rategain Travel Technologies on the second day of the IPO?

On the second day of the IPO i.e. 08-December, the IPO of Rategain Travel Technologies saw overall bids of 129.33 lakh shares against the available overall quota of 173.51 lakh shares on offer. As of the close of the second day, the IPO of Rategain was subscribed about 75%, with one day to go. Retail investors took a chunk of the allotments on first 2 days of the IPO as you will see in the retail investor segment here.

Let me first talk about the QIB portion. After placing 1.41 crore shares with major anchor investors, the QIB quota was left with net shares of 93.93 lakh shares for the IPO. However, as of the end of the second day, it has not got a single bid from the QIBs, which is quite surprising. However, the normal trend is that QIB bids get bunched on the last day. The hope is that with such a good anchor response, QIBs should pick up on the last day.

Finally, let us turn to the HNI and Retail portion. The HNI quota was subscribed a meagre 0.08X or 8%. It got applications for 3.83 lakh shares against the available quota of 46.97 lakh shares. This is tepid response at the close of Day-2 though bids typically come in on the last day. Retail portion got subscribed 3.98X at the close of Day-2 as it got bids for 124.57 lakh shares against the available quota of 31.31 lakh shares. It is now over to the last day.