Tracxn Technologies IPO: What experts say as GMP signals ‘par listing’ of shares

Tracxn Technologies IPO: Shares of Tracxn Technologies are going to hit secondary market on 20th October 2022 as Tracxn Technologies IPO listing date has been fixed on Thursday, October 20, 2022. Meanwhile, ahead of share listing, grey market is signals are not convincing for Dalal Street observers. Market observers said that shares of Tracxn Technologies are available at zero premium, which means Tracxn Technologies IPO may have a par listing, signals grey market. Even stock market experts believe that the public issue had a lackluster response from investors and it may have a muted listing on Thursday.

Tracxn Technologies IPO GMP today

According to market observers, Tracxn Technologies IPO grey market premium (GMP) today is zero that means Tracxn Technologies IPO GMP has fallen from ₹3 to zero in last one day. They went on to add that the public issue had a weak response from investors that hit the grey market sentiments. They said that Tracxn Technologies IPO GMP has come down from ₹6 to zero in last one week, which doesn't signal any positive news for the public issue.

What this GMP mean

Market observers said that zero GMP means par listing. They said that grey market is signaling that Tracxn Technologies IPO listing price could be around ₹80 apiece as Tracxn Technologies IPO GMP today has come down at zero. They also said that weak grey market response is taking place at a time when the Dalal Street has been rising for last three days in a row.

What experts believe

Speaking on the kind of opening Tracxn Technologies may have, Abhay Doshi, Founder at UnlisteArena.com said, "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."

As per the Religare Broking report, "Competition intensity is high across industry and company's revenue may decline, if customers do not renew their subscription." So, these factors played its role in the minds of investors during subscription and it is going to play post-listing as well.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.