The 3-day initial public offering (IPO) of global market intelligence provider Tracxn Technologies has closed successfully with a 2.01 times subscription at closing on October 12, 2022. This IPO marked the 22nd IPO for this calendar year.
As per data shared by the National Stock Exchange (NSE), the Tracxn Technologies IPO, which was worth ₹309 Crore for an offer of 2.12 Crore shares, received bids for 4.27 Crore shares. The price bank for the IPO was fixed at ₹75-₹80 per share.
Tracxn Technologies IPO Subscription Details
The retail individual investors (RIIs) and qualified institutional buyers (QIBs) helped the Tracxn Technologies IPO get subscribed fully. The RIIs category was subscribed 4.87 times and the QIBs category was subscribed 1.66 times. The response from the non-institutional investors remained muted, with a subscription of only 80% of the allotted quota.
Tracxn Technologies IPO Allotment And Listing Details
The shares of Tracxn Technologies are expected to list on the Bombay Stock Exchange and the National Stock Exchange on Thursday, October 20, 2022.
The company is expected to finalise the allotment of shares on Monday, October 17, 2022. The bidders will receive the credit of their shares (if allotted) in their demat accounts on Wednesday, October 19, 2022.
Link Intime India Private Ltd. is the registrar for the Tracxn Technologies IPO. To check the allotment status of the IPO, bidders can visit the official Link Intime India Private Ltd. website or the BSE website.
More Details About Tracxn Technologies
Founded in the year 2013, Tracxn Technologies has its headquarters in Bengaluru. The company operates on a Software as a Service (SaaS) model and offers market intelligence data to private companies. As of June 2022, Tracxn Technologies had 3,271 users across 1,139 customer accounts and in over 58 countries.
Since the Tracxn Technologies IPO was entirely an offer-for-sale (OFS) by the company's promoters and investors, the company will not get any funds from the IPO. With the OFS, the company will see a sale of up to 76.62 Lakh shares each by its promoters Abhishek Goyal and Neha Singh, and a sale of up to 12.63 Lakh shares each by the founders of Flipkart, Sachin and Binny Bansal.
As per market observers, the grey market premium (GMP) of Tracxn Technologies shares has now fallen from premium and is available at a discount of ₹(-) 4 in the grey market today.
Also Read: Tracxn Technologies IPO: All You Need To Know
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