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Shares of Tracxn Technologies Ltd made a positive stock market debut on Thursday with the stock listing at ₹84.5 apiece on the NSE, a premium of nearly 6% as compared to its IPO issue price of ₹80 per share. On the BSE, Tracxn Technologies shares started trading at ₹83 apiece, up over 4% from the issue price.
The initial public offering (IPO) of Tracxn Technologies was subscribed two times at the close of the offer last week on Wednesday. The three-day public issue received bids for 4.27 crore shares against 2.12 crore shares on offer, according to NSE data. The market intelligence platform had raised a little more than ₹139 crore from anchor investors ahead of its initial share sale.
The category for retail individual investors (RIIs) was subscribed 4.87 times and the portion for Qualified Institutional Buyers (QIBs) received 1.66 times subscription. The quota for non-institutional investors (NIIs) got subscribed 80%.
The issue of up to 3,86,72,208 equity shares was in a price range of ₹75-80 a share. The initial share sale was entirely an offer-for-sale (OFS) of shares by promoters and investors. The OFS saw sale of up to 76.62 lakh shares each by promoters Neha Singh and Abhishek Goyal, up to 12.63 lakh shares each by Flipkart founders Binny Bansal and Sachin Bansal.
Tracxn Technologies Ltd, the Bengaluru-headquartered company, operates on a Software as a Service (SaaS) model and is among the leading market intelligence providers for private company data. Tracxn was launched in 2015 by Neha Singh and Abhishek Goyal who have had their stints as venture capitalists at Sequoia and Accel Partners, respectively. As of June this year, the company had 3,271 users across 1,139 customer accounts in over 58 countries.
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(This story has not been checked by Kashmir Bulletin and is auto-generated from other sources)
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