RateGain Travel Technologies IPO opens: Is this SaaS player worth a shot?

At the upper end of the price band, the company is available at a price-to-book (P/B) value of 16.04 times in FY2021. The company has no listed peers but analysts are flagging the pricey valuation. Also, the company has been reporting losses for the previous two financial years, thanks to the adverse effects of the Covid-19 pandemic.
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