Tracxn Technologies IPO listing on NSE, BSE: Tepid debut, share price gains 5%
Tracxn Technologies IPO Listing, Tracxn Technologies Share Listing Price NSE BSE: Tracxn Technologies shares made a positive start on the NSE, BSE. The shares were listed at a premium of around 5 per cent.
Tracxn Technologies IPO Listing, Tracxn Technologies Share Listing Price NSE BSE: Tracxn Technologies shares made a positive start on the NSE, BSE today, October 20. The stock made its debut at Rs 83, registering a rise of 3.75 per cent against the issue price on BSE. It further climbed 23.68 per cent to Rs 98.45. At the NSE, it listed at Rs 84.50, higher by 5.62 per cent.
As per the information available on the BSE website, Tracxn Technologies shares listed and admitted to dealings in the list of B group of securities in Special Pre-open Session (SPOS).
The IPO was subscribed 2.01 times. The IPO received bids for 49,56,520 shares against 2,12,69,714 shares on offer, according to NSE data. The portion for Retail Individual Investors (RIIs) got subscribed 1.23 times. The category for non-institutional investors received 4 per cent subscription.
The IPO of up to 3,86,72,208 equity shares is in a price range of Rs 75-80 a share. At the upper end of the price band, the IPO is expected to garner Rs 309 crore.
The Bengaluru-headquartered company, launched in 2015 by Neha Singh and Abhishek Goyal, operates on a Software as a Service (SaaS) model and is among the leading market intelligence providers for private company data. They had their stints as venture capitalists at Sequoia and Accel Partners, respectively.
The public issue, an offer for sale (OFS) of 38.67 million shares by its promoters Singh and Goyal and shareholders that include Flipkart founders Sachin Bansal and Binny Bansal and VC firms like Sequoia Capital and Accel.
Tracxn Technologies Stop Loss
Zee Business Managing Editor Anil Singhvi had given a neutral rating on IPO. On the expected listing price, Singhvi had said that the listing could take place around the issue price and suggested keeping the stop loss at Rs 70.
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. IIFL Securities is the manager to the offer.
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