RateGain Tech shares gain after firm announces Qualified Institutional Placement
RateGain's shares have been performing well for some time as they hit a 52-week high of Rs 733 on Friday (November 17) and November 15 (Wednesday).
RateGain Tech Share Price: Shares of RateGain Tech started the trading session on Tuesday (November 21) on a higher note after the company approved the allotment of shares through Qualified Institutional Buyers.
The stock of RateGain Tech was trading 1.13 per cent higher, or Rs 8.10, at Rs 725.95, at 9:37 am on Tuesday.
The company's shares have been performing well for some time as they hit a 52-week high of Rs 733 on Friday (November 17) and November 15 (Wednesday).
What is RateGain Tech QIP plan?
RateGain Tech, which is a global provider of SaaS solutions in the hospitality and travel industry, on Monday announced the completion of a capital raise of Rs. 600 crores through a Qualified Institutional Placement (QIP) with support from QIB.
"The Fundraising committee of the Board of Directors approved the allotment of 9,331,259 shares at a price of Rs. 643 (Face value of Rs. 1 and premium of Rs. 642)," the company said in a statement on Monday. The floor price of the share is Rs 676.66/share.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SRH vs GT IPL 2024 Ticket Booking Online: Where and how to buy SRH vs GT tickets online - Check IPL Match 66 ticket price, other details
Top 7 SWP Mutual Funds: Rs 50 lakh investment, Rs 70K monthly pension for 10 years, and Rs 42.30 lakh balance value; know more details
Gold and Silver rate today (May 13, 2024): Precious metal under pressure; yellow metal near Rs 72,400, white metal above Rs 84,600
SIP Returns: How Rs 3,000, 5,000, and Rs 10,000 SIPs can help you build retirement corpus of Rs 1.06 cr, Rs 1.77 cr, and Rs 3.53 cr
10:02 AM IST