The initial public offering (IPO) of Tracxn Technologies, the private data and market intelligence company was subscribed 0.54 percent on day two of the issue opening with strong participation from the retail investors segment.
According to data available on BSE, the IPO of Tracxn on Tuesday saw 1,15,81,555 shares subscribed out of the 2,12,69,714 on offer. The retail portion was subscribed 2.61 times while it was 0.25 percent from the non institutional investors. The qualified institutional investors were yet to start bidding and generally place their bids on the last day.
This offer for sale issue has been fixed at a price in the range of Rs 75-80 and is open from October 10-12. It comprised 38,672,208 equity shares by promoters and other key shareholders.
Tracxn has raised a little more than Rs 139 crore from anchor investors. It has allocated a total of 1.74 crore equity shares to anchor investors at Rs 80 apiece, aggregating the transaction size to Rs 139.22 crore.
India Acorn Fund, BNP Paribas Arbitrage, Whiteoak Capital, Kotak Mutual Fund, ICICI Prudential MF, Nippon India MF and Reliance General Insurance Company are among the anchor investors.
As per the issue, Tracxn co-founders Abhishek Goyal and Neha Singh will offload up to 7,662,655 equity shares each. The IPO will also see Flipkart co-founders Binny Bansal and Sachin Bansal offloading up to 1,263,096 equity shares each.
Other stakeholders including Delhivery co-founder Sahil Barua, Elevation Capital, Accel India, will also be offloading their shares.
