Latest News | Tracxn Technologies IPO Subscribed 23 Pc on First Day of Offer

New Delhi, Oct 10 (PTI) The Initial Public Offering (IPO) of Tracxn Technologies received 23 per cent subscription on the first day of offer on Monday.

The IPO received bids for 49,56,520 shares against 2,12,69,714 shares on offer, according to a NSE data.

Also Read | Bibiano Fernandes, India U-17 Coach, Reacts After Qualifying for AFC Asian Cup, Says 'World Cup Qualification is Our Next Goal'.

The portion for Retail Individual Investors (RIIs) got subscribed 1.23 times. The category for non-institutional investors received 4 per cent subscription.

The IPO of up to 3,86,72,208 equity shares is in a price range of Rs 75-80 a share.

Also Read | Diwali 2022: What Are Green Crackers? Are They Eco-Friendly and Less Polluting Than Traditional Firecrackers? All You Need To Know.

Market intelligence platform Tracxn Technologies on Friday said it has raised a little more than Rs 139 crore from anchor investors.

At the upper end of the price band, the IPO is expected to garner Rs 309 crore.

The Bengaluru-headquartered company operates on a Software as a Service (SaaS) model and is among the leading market intelligence providers for private company data.

Tracxn was launched in 2015 by Neha Singh and Abhishek Goyal who have had their stints as venture capitalists at Sequoia and Accel Partners, respectively.

IIFL Securities is the manager to the offer.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)