Tracxn Technologies IPO share listing date today. Experts predict ’muted’ debut
- Tracxn Technologies share price may open at around ₹75 to ₹80, signals grey market
Tracxn Technologies IPO listing: Shares of Tracxn Technologies Limited are going to hit secondary markets today as Tracxn Technologies IPO listing date is 20th October 2022. As per the information available on the BSE website, effective from Thursday, October 20, 2022, the equity shares of Tracxn Technologies Limited shall be listed and admitted to dealings on the Indian stock market exchanges in the list of 'B' group of securities in Special Pre-open Session (SPOS).
According to stock market experts, financial market is going to face major challenges like global recession, rising interest rates that may hit activities and tractions of capital markets,, investment banks and family offices. They said that such challenges are expected to hit Tracxn Technologies as well. Apart from this, Tracxn Technologies share price has been oscillating at a grey market premium (GMP) of zero to minus ₹3 for last few days. So, the company share may have a 'muted to negative' debut today.
Speaking on Tracxn Technologies IPO listing price prediction, Aayush Agrawal, Senior Research Analyst at Swastika Investmart said, "Tracxn Technologies Ltd. is expected to have a muted to negative listing owing to high valuations, less than stellar subscription numbers and the nature of the issue being OFS; the current GMP is -3 around 3.75% below its issue price. Due to the rising interest rates globally & recessionary conditions in major markets like North America & Europe the Private Equity Markets, Venture Capital markets, Investment Banks, and Family offices are witnessing a significant cutback in terms of activities and traction; additionally, M&A activities have been subdued." He went on to add that the company will find it difficult to substantially grow its client base and top line in the coming years.
"The exorbitant valuation of Price to Sales of ~12.5 (Based on FY 22 numbers and Upper band price) and high competition from global players made it very difficult to recommend this issue. Thus we had assigned Avoid Rating for this issue. And investors must wait for a few quarters before deciding whether to invest or not for the long term," said Aayush Agrawal of Swastika Investmart.
Expecting Tracxn Technologies IPO listing around its issue price, Abhay Doshi, Founder at UnlistedArena.com said, "Tracxn Technologies IPO got a lack-lustered response from investors from all the segments even though the issue size was small. The company has just started posting profits and its business operations are also not large which could be the reason behind weak subscription. Hence, listing might be a muted one around its issue price only."
What GMP signals
Tracxn Technologies IPO grey market premium (GMP) today is zero that means grey market is expecting that Tracxn Technologies IPO may have an opening around its issue price of ₹75 to ₹80 per equity share.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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