RateGain Travel Technologies Limited has submitted its final Monitoring Agency Report concerning the utilization of proceeds from its Qualified Institutional Placement (QIP) for the quarter ending December 31, 2025. The report, issued by CRISIL Ratings Limited, confirms that 100% of the net proceeds (Rs 5,862.91 million) have been utilized. The primary object of the placement—strategic investments, acquisitions, and inorganic growth—was fulfilled via the acquisition of Sojern Inc., with no deviations noted.
RateGain Files Final QIP Utilization Report for Q3 FY2025-26
RateGain Travel Technologies Limited has officially disclosed the final status of the proceeds raised through its Qualified Institutional Placement (QIP) to the stock exchanges. This disclosure, dated February 13, 2026, incorporates the Monitoring Agency Report prepared by CRISIL Ratings Limited for the quarter ended December 31, 2025.
Complete Utilization Confirmed
The monitoring report confirms that the total net proceeds raised, initially reported at Rs 5,861.50 million (later revised to Rs 5,862.91 million due to adjustments in offer expenses), have been fully deployed. Specifically:
- Object: Strategic investments, acquisitions, and inorganic growth.
- Amount Utilized During Quarter: Rs 5,862.91 million.
- Total Unutilized Amount: Nil.
The agency noted that proceeds were utilized towards the acquisition of Sojern Inc. The report explicitly states that all utilization was in line with disclosures made in the Offer Document, with no deviations observed.
Monitoring Agency Confirmation
CRISIL Ratings, acting as the Monitoring Agency, confirmed receiving necessary documentation, including a management undertaking and a Statutory Auditor Certificate dated February 11, 2026. Since both the QIP Escrow account balance and the monitoring account balance stand at Nil as on December 31, 2025, this marks the final Monitoring Agency report for this specific QIP issue.
Object Description
The primary stated objective of the QIP was to facilitate strategic value creation through inorganic growth, allowing RateGain to seek attractive acquisition opportunities that align with its business objectives. The finalized utilization confirms deployment toward this core strategy.
Source: BSE
