Retail investors led bidding for shares of Tracxn Technologies Ltd., a Ratan Tata-backed company, on the second day of its Rs 309-crore initial public offering.
The IPO by the market intelligence provider for private company is an offer for sale with a price band of Rs 75-80 apiece. It was subscribed 23% on the first day.
Flipkart promoters, which were early-stage investors in the company, will be exiting via the offer for sale. Tata will continue to remain invested in the company.
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The sale of shares, at the higher end of the price band, will fetch Rs 309 crore for the company.
The issue represents 38.55% of the company's equity capital following the offering. At the upper end of the price range, the company is worth Rs 802 crore.
Subscription Status: Day 2
The IPO was subscribed 0.54 times as of 5 p.m. on Oct. 11.
Institutional investors: 0 times.
Non-institutional investors: 0.25 times.
Retail investors: 2.6 times.
Watch BQ Prime's IPO Adda With Tracxn Technologies
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