The retail part of the Tracxn Technologies IPO received 51% of the day's subscriptions
Funded by Flipkart founders Binny and Sachin Bansal Through its first public offering, Tracxn Technologies plans to raise Rs 309.37 crore at the higher end of the Rs 75–80 per share price range. The corporation won't get any money from the issue because it is solely an offer for sale.
admin
On October 10, the first day of bidding, Tracxn Technologies' initial public offering (IPO), which is for 2.12 crore shares and is a global provider of market analytics, received offers for 10%, or 20.26 lakh shares.
After raising Rs. 139 crore via anchor last friday, the company reduced the size of its offer to 2.12 crore shares from 3.86 crore shares.
Non-institutional investors bought 42,920 shares, or 51% of the allocated quota, while retail investors purchased 51%. Institutional buyers who are qualified have not yet begun to place bids.
A portion of the company's offer has been set aside for qualified institutional purchasers at 75%, non-institutional investors at 15%, and retail investors at the remaining 25%.
Tracxn Technologies, which is funded by the founders of Flipkart Sachin Bansal and Binny Bansal, plans to raise Rs 309.37 crore through an initial public offering (IPO) at the higher end of the Rs 75–80 per share price range. The corporation won't get any money from the issue because it is solely an offer for sale.
Co-founders Neha Singh and Abhishek Goyal, who together own 23.81 percent of the company, will each sell 76.62 lakh shares as part of the offering. The 12.63 lakh shares that each of the Flipkart founders will sell will be their last.
Sahil Barua, Deepak Singh, Milliways Fund LLC, Rathnagirish Mathrubootham, Apoletto Asia, NRJN Family Trust, Manoj Kumar Gandhi, WGG International, Accel India IV (Mauritius), SCI Investments V, and Prashant Chandra are additional sellers in the offering.
After the founders, Elevation Capital holds the third-largest investment in the business (20.47%).
