Rategain Travel Technologies Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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RateGain Travel Technologies has filed a quarterly statement confirming there is no deviation or variation in the use of funds raised through its Qualified Institutional Placement (QIP) conducted in November 2023. The company raised ₹6,000 million gross (₹5,862.91 million net of issue expenses) by issuing 9,331,259 equity shares at ₹643 each, with the entire proceeds earmarked for strategic investments, acquisitions, and inorganic growth. A small surplus of ₹1.41 million from lower-than-estimated offer expenses was added to the original allocation, revising it from ₹5,861.50 million to ₹5,862.91 million. The filing was reviewed by the Audit Committee and is monitored by CRISIL Ratings Limited.
This is a routine regulatory compliance filing confirming that QIP proceeds are being used as originally disclosed, with no misuse or diversion of funds. For shareholders, this signals good governance and transparency, though it carries no direct impact on stock price or business operations.