Tracxn Tech's IPO oversubscribed by 2.01 times on final day; Retail portion booked 4.87 times

Tracxn Technologies, the leading global market intelligence providers for private company data has received bids of 4,27,29,820 shares against the offered 2,12,69,714 equity shares, at a price band of ₹75-80, according to the data available on the stock exchanges. Overall the issue was subscribed 2.01 times on the final day of bidding.

The Retail Portion saw a positive response and was subscribed 4.87 times. The reserved portion for qualified institutional buyer portion was subscribed 1.66 times and non-institutional segment saw a response of 0.80 times. The issue kicked off for subscription on Monday, October 10.

The offer is an Offer for Sale aggregating to 38,672,208 equity shares by the company's promoters and existing shareholders. Sachin Bansal and Binny Bansal are exiting fully, while Elevation Capital and the NRJN Family Trust, Rathnagirish Mathrubootham and other marquee shareholders are selling a part of their stake.

IIFL Securities Limited is the sole book running lead manager and Link Intime India Private Limited is the registrar to the issue. The equity shares are proposed to be listed on BSE and NSE.

Source : Equity Bulls

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TracxnTechnologies IPO FundRaising Subscription