Shares of Tracxn Technologies will be listed today. The company has fixed the IPO price at ₹80 and the upper end of the IPO price at ₹75-80.
The IPO was subscribed over two times with retail investors’ portion seeing a robust response of over 4.9 times. Qualified institutional buyers’ portion was subscribed 1.66 times while the quota reserved for non-institutional investors witnessed just 0.8 times.
As the entire issue is an offer-for-sale, the company will not receive any funds from the IPO. Among others, the fund raised went to Tracxn co-founders, Abhishek Goyal and Neha Singh, and Flipkart founders, Binny Bansal and Sachin Bansal.
Ahead of the issue, Tracxn had garnered ₹139.22 crores from anchor investors — India Acorn, BNP Paribas Arbitrage- ODI, Ashoka India Equity Investment PLC, Tara Emerging Asia Liquid Fund, Kotak Offshore, Nippon Life, ICICI Prudential, Whiteoak Capital Flexi Cap Fund, Kotak Pioneer Fund, Reliance General Insurance, and Motilal Oswal.
The Bangaluru-based company, one of the leading global market intelligence providers, has an asset-light business model and operates a Software as a Service (SaaS)-based platform. The firm offers customers private company data for deal sourcing, identifying M&A targets, deal diligence, analysis, and tracking emerging themes across industries and markets, through its subscription-based platform.