RateGain Travel Technologies Limited submitted its mandatory statement regarding the utilization of funds raised through a Qualified Institutional Placement (QIP). For the quarter ending December 31, 2025, the company confirmed that the ₹5,862.91 million raised was fully utilized. The primary intended object, strategic investments and acquisitions, received the total allocated amount, with no material deviation reported.
Quarterly Disclosure on QIP Fund Deployment
RateGain Travel Technologies Limited has released its mandatory statement detailing the utilization of capital procured via a Qualified Institutional Placement (QIP). This report covers the performance for the quarter that concluded on December 31, 2025.
Fund Raising Context
The QIP was successfully completed on November 20, 2023, raising net proceeds amounting to ₹5,862.91 million (after accounting for issue expenses). The company noted that the actual offer-related expenses were lower than initially estimated, resulting in a minor surplus of ₹1.41 million, which was added to the object of utilization as of the quarter ending June 30, 2024.
Utilization Details for Q3 FY26
The original object for the funds raised was designated for Strategic investments, acquisitions, and inorganic growth, with an initial allocation of ₹5,861.50 million. The utilization table confirms the following status for the quarter ended December 31, 2025:
- Modified Allocation: ₹5,862.91 Million
- Funds Utilized During the Quarter: ₹5,862.91 Million
- Total Funds Utilized vs. Applicable Object: Nil Deviation
The disclosure explicitly notes that the proceeds were fully utilized towards the acquisition of Sojern Inc., indicating complete deployment against the primary strategic objective defined during the fundraising process.
Conclusion on Deviation
The company confirmed that there was No Deviation or Variation in the use of the QIP funds as reported for the quarter. The Audit Committee reviewed this statement during its meeting on February 13, 2026.
Source: BSE
