Home / Markets / Ipo /  Tracxn Technologies IPO's share allotment likely next week. Check latest GMP

The three-day initial public offering (IPO) of Tracxn Technologies was subscribed two times at the close of the offer on Wednesday. The 309-crore IPO received bids for 4.27 crore shares against 2.12 crore shares on offer, according to NSE data. The price band was fixed at 75-80 per share.

As per market observers, Tracxn Technologies shares have fallen from premium (GMP) and now available at a discount of (-) 4 in the grey market today. The shares of the company are expected to list on stock exchanges BSE and NSE on Thursday, September 20, 2022.

The finalization of basis of share allotment of Tracxn Technologies IPO is expected to take place next week on Monday, October 17, 2022 and if allotted, then the credit of shares to demat account of bidders will be done on Wednesday, October 19, 2022. The registrar for this IPO is Link Intime India Private Ltd, therefore the allotment application can be checked on the registrar's website here or on the BSE website here.

Tracxn Technologies' IPO is 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.

"On the financials front, the company’s revenue has grown at a CAGR of 30.4%. Although the revenues have increased, EBITDA and PAT have been in negative for the past 2 years. So, an investor needs to keep a watch on the financials for FY23," said Religare Broking research.

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.

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