Home / Markets / Flipkart founders-backed Tracxn Technologies' IPO opens next week: Price band, key details to know

As the IPO season is back, Tracxn Technologies will launch its three day initial public offering (IPO) for public subscription next week on Monday, October 10, 2022 and the issue will conclude on October 12, 2022. The company on Tuesday said it has fixed a price band of 75-80 per share for its 309-crore public issue.

Tracxn Technologies' 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.

The finalisation of the basis of share allotment could happen on Monday, October 17, 2022 and the shares of the company are expected to list on leading stock exchanges BSE and NSE this month on Thursday, October 20, 2022.

Founded in 2013, Bengaluru-headquartered company Tracxn Technologies operates on a software as a service (SaaS) model and provides market intelligence data for private companies. As of June this year, the company had 3,271 users across 1,139 customer accounts in over 58 countries.

It is a comprehensive B2B information platform that identifies, tracks and analyses private market companies and startups on deal sourcing, deal diligence and has the largest global coverage in emerging technology sectors such as artificial intelligence, virtual reality, robotics, and blockchain.

IIFL Securities is the sole book-running lead manager to the public issue and Link Intime India Private Ltd is the registrar of the initial share sale.

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