Rategain Travel Technologies Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
RATEGAIN · price
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RateGain Travel Technologies has confirmed to NSE and BSE that there is no deviation or variation in the use of funds raised through its Qualified Institutional Placement (QIP) in November 2023. The company raised Rs. 6,000 million (9,331,259 equity shares at Rs. 643 per share) and the net proceeds of Rs. 5,862.91 million (after issue expenses) have been fully utilized towards the acquisition of Sojern Inc., matching the original stated object of 'strategic investments, acquisitions, and inorganic growth.' The statement was reviewed by the Audit Committee on February 13, 2026 and is monitored by CRISIL Ratings Limited. No changes to the original objects or allocations were made during the quarter.
This is a routine compliance filing with no negative impact — it confirms that RateGain used its QIP proceeds exactly as promised to shareholders, with no diversion of funds. For investors, this reinforces management's track record of disciplined capital allocation and provides comfort that the Sojern acquisition was funded as intended.