Tracxn Technologies IPO: GMP, subscription status, other details in 10 points

Tracxn Technologies IPO: The initial public offering (IPO) of Flipkart founders-backed Tracxn Technologies Limited is going to hit primary markets today. The three days subscription of Tracxn Technologies (IPO) initial public offering has opened today and it will remain open for bidding till 12th October 2022. The market intelligence data provider company has fixed Tracxn Technologies IPO price at ₹75 to ₹80 per equity share. Meanwhile, shares of Tracxn Technologies are available at a premium of ₹6 in grey market today.

Till 1 PM on day one of bidding, the public issue has been subscribed 0.11 times while its retail portion has been subscribed 0.58 times.

Here we list out important Tracxn Technologies IPO details in 10 points:

1] Tracxn Technologies IPO GMP: According to market observers, Tracxn Technologies IPO grey market premium (GMP) today is ₹6.

2] Tracxn Technologies IPO price: The price band of the public issue has been fixed at ₹75 to ₹80 per equity share.

3] Tracxn Technologies IPO subscription status: Till 1 PM on day 1 of bidding, the public issue has been subscribed 0.11 times whereas its retail portion has been subscribed 0.58 times.

4] Tracxn Technologies IPO size: The market intelligence data provider company aims to generate ₹309.38 crore from its public offer.

5] Tracxn Technologies IPO lot size: A bidder will be able to apply in lots and one lot will comprise 185 company shares.

6] Tracxn Technologies IPO type: The public issue is a book build issue and it is 100 per cent offer for sale (OFS) in nature.

7] Tracxn Technologies IPO investment limit: A bidder will be able to apply for minimum one lot and maximum 13 lots. So, an investor will require minimum ₹14,800 ( ₹80 x 185) to apply for the IPO and one investor can invest a maximum of ₹1,92,400 [( ₹80 x 185) x 13].

8] Tracxn Technologies IPO allotment date: The tentative date for share allocation is 17th October 2022.

9] Tracxn Technologies IPO listing date: The public issue is proposed for listing on both NSE and BSE and it is likely to hit secondary market on 20th October 2022.

10] Tracxn Technologies IPO review: On whether one should apply for the IPO or not, Abhay Doshi, Founder at said, “Tracxn has emerged as a major player in the private market data service provider, providing enterprise grade data curation. The company’s operations being based in India provide an advantage in cost effectiveness as compared to its global competitors. The offer is a complete OFS and hence the proceeds won’t be available to the company. The company was loss-making till FY 22 and has posted positive results for 3MFY23. Hence, it will be too early to comment on the performance and valuations of the company.”

“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,” reports Religare Broking research.


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