Market intelligence platform Tracxn Applied sciences acquired bids for 49,56,520 shares towards 2,12,69,714 shares on provide on the primary day of its preliminary public providing on Monday, as per NSE information.
The IPO will stay open for bidding until Wednesday.
On the primary day of the subscription, the portion for retail particular person buyers (RIIs) was subscribed 1.23 instances. The class for non-institutional buyers acquired 4% subscription.
The IPO of as much as 3,86,72,208 fairness shares is in a worth vary of Rs 75-80 a share.
Tracxn had mentioned on Friday that it had raised somewhat greater than Rs 139 crore from anchor buyers. It has determined to allocate a complete of 1.74 crore fairness shares to anchor buyers at Rs 80 apiece, aggregating the transaction measurement to Rs 139.22 crore, in line with a round uploaded on the BSE web site.
India Acorn Fund, BNP Paribas Arbitrage, Whiteoak Capital, Kotak Mutual Fund, ICICI Prudential MF, Nippon India MF and Reliance Normal Insurance coverage Firm are among the many anchor buyers.
The offer-for-sale will see gross sales of as much as 76.62 lakh shares every by the promoters–Neha Singh and Abhishek Goyal–and as much as 12.63 lakh shares every by Flipkart founders Binny Bansal and Sachin Bansal.
On the higher finish of the value band, the IPO is anticipated to garner Rs 309 crore. IIFL Securities is the supervisor to the provide.
Tracxn was launched in 2013 by Neha and Abhishek who earlier labored as enterprise capitalists at Sequoia Capital and Accel Companions, respectively.
The Bengaluru-headquartered firm operates on a software-as-a-service (SaaS) mannequin and is among the many main market intelligence suppliers for personal firm information in India.
Tracxn affords data on personal corporations to its prospects for deal sourcing, figuring out mergers and acquisitions targets, deal diligence, evaluation, and monitoring rising themes throughout industries and markets, amongst different makes use of, by its subscription-based platform.
(Extra inputs added for context)