RateGain’s Value Falls 15 Percent on Stock Market Debut in India
Photo Credit: External view of a hotel with a Grand Bohemian art gallery that belongs to the Kessler Collection, a hotel company that uses Rategain's services: Source: Kessler Collection Kessler Collection
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If, as a traveler, you've booked a hotel room online through price comparison, or metasearch, or through a corporate booking tool, you've probably used RateGain's technology without knowing it. Today's public listing gives RateGain cash for more mergers and acquisitions.
RateGain Travel Technologies made its stock market debut in India at about $4.75 (360 rupees) a share, a discount of about 15 percent to its initial public offering listing price of about $5.59 a share (425 rupees).
After listing on the National Stock Exchange, the company's market capitalization was approximately $51.2 million (3,894 crore rupees), according to BSE data. Shares closed the day down about 20 percent.
The stock debuted on the same F
