Skift Take
RateGain, a 15-year-old travel tech firm, wants to position itself for growth post-pandemic by raising capital. Its private equity sponsor TA Associates also wants a payday, and no wonder.
Travel tech company RateGain, backed by private equity firm TA Associates, told regulators in India on Tuesday that it planned to go public by listing on India's stock market.
TA Associates has a 22.8 percent stake in the tech vendor via its affiliate Wagner. According to the filings, the firm will sell a majority of its shares, 17 million, in the initial public offering. The company's founders are selling some of their shares, too.
The initial public offering will also involve issuing shares, which the company hopes will raise an additional $54 million (400 crore rupees). The timing depends on regulatory approval.
RateGain, founded 15 years ago and based in Noida, India, offers business intelligence, distribution, and social media management services. Its 1,400 clients include hotels, airlines, railways, car rental companies, and cruise lines. It is one of the world's largest managers of travel data. If, as a traveler, you've booked a hotel room online through price comparison, or metasearch
