Tracxn Technologies IPO: The initial public offering (IPO) of Tracxn Technologies, a market intelligence data analytics provider, doubled subscribed on the last day. According to the data available on NSE, the offer of 2.12 crore shares under the Rs 309 crore IPO received bids for 4.27 crore shares.
The reserve share in the Retail Individual Investors (RII) category was filled 4.87 times. On the other hand, the share of non-institutional investors (NIIs) was 80% subscribed. The share of Qualified Institutional Buyers (QIBs) was subscribed 1.66 times. The price band for the IPO of 3,86,72,208 shares of the company was Rs 75-80 per share. Traxon Technologies had earlier on Friday raised Rs 139 crore from anchor investors.
Tracxn Technologies works on a B2B platform that identifies, tracks and analyzes private market companies and startups. This company is working since 2015 and it was started by Neha Singh and Abhishek Goyal.
The price band of Tracxn Technologies IPO was Rs 75-80 per share. One lot was of 185 shares. Accordingly, a minimum investment of Rs 14,800 was required for one lot. The allotment of shares of Tracxn Technologies can happen on October 17. Whereas on October 19, shares can be allotted in the demat account. At the same time, the listing of the company can be done on BSE and NSE on October 20.
It was purely an offer for sale. During this, the promoters of the company sold 38,672,208 shares. Through the OFS, the company’s promoters Neha Singh and Abhishek Goyal sold 76.62 lakh shares and Flipkart founders Binny Bansal and Sachin Bansal up to 12.63 lakh shares. Apart from this, 1.09 crore shares of Elevation Capital, 40.2 lakh shares of Accel India IV Mauritius, 21.81 lakh shares of SCI Investments V and 2.07 lakh shares of Sahil Barua were issued.