Avataar Venture Partners Exits RateGain Travel Technologies with Rs 160 Crore Stake Sale

Avataar Venture Partners exited RateGain Travel Technologies by selling its 1.8% stake for Rs 160 crore through an open market transaction on Thursday. The shares were bought by major mutual funds and financial institutions at Rs 745 apiece. RateGain's shares rose by 3.54% post-transaction.

In a significant financial move, VC firm Avataar Venture Partners has divested its entire 1.8 per cent stake in RateGain Travel Technologies for a considerable Rs 160 crore through an open market transaction, finalized on Thursday.

According to data provided by the National Stock Exchange (NSE), Avataar Holdings, a subsidiary of Avataar Venture Partners, offloaded 21,56,960 shares at Rs 745 apiece. Major buyers included prominent mutual funds such as Axis MF, ICICI Prudential MF, Tata MF, Morgan Stanley Asia Singapore, and Societe Generale.

As a result of this transaction, shares of RateGain Travel Technologies saw a 3.54 per cent increase, closing at Rs 778.80 per share on the NSE. It's noteworthy that this follows an earlier divestment by Avataar Holdings of a 5 per cent stake in the same company for Rs 206 crore in June of the previous year.

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