Tracxn Technologies IPO opens today for subscription: Private market intelligence platform Tracxn Technologies has said it has fixed a price band of Rs 75-80 per share for its Rs 309-crore initial public offering (IPO) starting today on Monday, October 10. The initial share-sale will close on October 12.

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The IPO will be entirely an offer-for-sale (OFS) of 38,672,208 equity shares by promoters and investors. The OFS will see sale of up to 76.62 lakh shares each by promoters Neha Singh and Abhishek Goyal, up to 12.63 lakh shares each by Flipkart founders Binny Bansal and Sachin Bansal.

Market intelligence platform Tracxn Technologies on Friday said it has raised a little more than Rs 139 crore from anchor investors. The company's Initial Public Offering (IPO) will be entirely an Offer For Sale (OFS) of 38,672,208 equity shares by promoters and investors.

 

Tracxn Technologies IPO Allotment Date

Tracxn Technologies IPO allotment date is October 17. The public issue is proposed for listing on both NSE and BSE October 20. It has decided to allocate 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 (MF), ICICI Prudential MF, Nippon India MF and Reliance General Insurance Company are among the anchor investors.

The OFS will see sale of up to 76.62 lakh shares each by promoters -- Neha Singh and Abhishek Goyal --, up to 12.63 lakh shares each by Flipkart founders -- Binny Bansal and Sachin Bansal. Up to 1.09 crore shares will be offloaded by Elevation Capital, 40.2 lakh shares by Accel India IV Mauritius, 21.81 lakh shares by SCI Investments V, 2.07 lakh shares by Sahil Barua, among others.

The issue, with a price band of Rs 75-80 per share, will open for public subscription on October 10 and close on October 12. At the upper end of the price band, the IPO is expected to garner Rs 309 crore. 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. 

Tracxn was launched in 2015 by Neha Singh and Abhishek Goyal who have had their stints as venture capitalists at Sequoia and Accel Partners, respectively. As of June this year, the company had 3,271 users across 1,139 customer accounts in over 58 countries.