Tracxn Technologies Ltd., a Ratan Tata-backed company, launched its Rs 309-crore initial public offering on Oct. 10 amid a volatile market.
The IPO by the market intelligence provider for private company is an offer for sale with a price band of Rs 75-80 apiece.
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.
The retail investor portion was fully subscribed on the first day of share sale.
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 1
The IPO subscribed 23% as of 05:00 p.m. on Oct. 10.
Institutional investors: 0.
Non-institutional investors: 4%.
Retail investors: 1.23 times.
Watch BQ Prime's IPO Adda With Tracxn Technolgies
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