Shares of RateGain Travel Technologies Ltd surged over 8% in opening trade on Thursday, June 20, after a huge block deal was executed on the stock counter.
According to data available on exchanges, around 21.6 lakh shares of RateGain Travel changed hands at ₹745 per share via open market transactions, for a total deal size of ₹161 crore.
The information about buyers and sellers in the deal was not immediately available on exchanges. However, media reports said that venture capital fund Avataar Holdings likely sold a 1.8% stake in RateGain Travel through the block deal.
According to reports, the floor price for the deal was set at ₹744.7 per share, which translated into a discount of 1% compared to RateGain Travel’s previous…