RateGain Travel Technologies Promoter Trims Stake For Rs 160.69 Crore

Promoter of RateGain Travel Technologies Ltd.—Avataar Holdings—sold a 1.98% stake in the company for Rs 160.69 crore through an open market transaction on Thursday.

Avataar Holdings offloaded 21.56 crore shares, at Rs 745 apiece, according to block deal data on the NSE. As of March, the promoter held 1.83% equity in the company.

Axis Mutual Fund bought 9.48 lakh shares (0.87%), ICICI Prudential Mutual Fund acquired 6.04 lakh shares (0.55%) and Morgan Stanley Asia Singapore obtained 2.68 lakh shares (0.24%) at Rs 745 apiece. Tata Mutual Fund and Societe Generale are among the other buyers.

Shares of RateGain Travel Technologies closed 3.28% higher at Rs 776.75 apiece on the BSE, as compared with a 0.18% rise in the benchmark Sensex.