Shares of Tracxn Technologies closed 18 per cent higher after making a moderately positive listing. The stock, after listing at ₹83 on the BSE against the issue price of ₹80, ended at ₹93.35, a gain of 16.68 per cent over its IPO price. During the day, it hit a high of ₹93.35.

Similarly, on the NSE, the stock closed at ₹94.20 apiece, up 17.75 per cent, after listing at ₹84.50.

Entirely OFS issue

The initial public offering of the Flipkart founders-backed Tracxn Technologies was subscribed 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 did not receive any funds from the IPO. Among others, the funds raised went to Tracxn co-founders, Abhishek Goyal and Neha Singh, and Flipkart founders, Binny Bansal and Sachin Bansal.

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.

Ahead of the issue, Tracxn had garnered ₹139.22 crore from anchor investors — including 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.