Tracxn Technologies IPO subscribed 23% on day 1 of offer

The Initial Public Offering (IPO) of Tracxn Technologies received 23 per cent subscription on the first day of offer on Monday.

The IPO received bids for 49,56,520 shares against 2,12,69,714 shares on offer, according to a 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.

Market intelligence platform Tracxn Technologies on Friday said it has raised a little more than Rs 139 crore from anchor investors.

At the upper end of the price band, the IPO is expected to garner Rs 309 crore.

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.