Tracxn Technologies IPO Share Allotment Soon: The preliminary public providing of worldwide market intelligence supplier Tracxn Technologies has seen a muted response on the ultimate day of bidding. Now all eyes are on the share allotment course of which is able to occur subsequent week.
Tracxn Technologies IPO: Subscription Status
The Rs 309-crore IPO obtained bids for 4.27 crore shares in opposition to 2.12 crore shares on provide, in accordance to NSE information. The class for retail particular person traders (RIIs) was subscribed 4.87 instances and the portion for Qualified Institutional Buyers (QIBs) obtained 1.66 instances subscription and the quota for non-institutional traders bought subscribed 80 per cent.
Tracxn Technologies IPO: Price Band
Flipkart founders Sachin Bansal and Binny Bansal-backed Tracxn Technologies is ready to mop up Rs 309.37 crore by way of its IPO on the higher finish of the worth band of Rs 75-80 per share. It is totally an offer-for-sale and so the corporate is not going to obtain any funds from the problem.
Tracxn Technologies IPO: Objectives of the Issue
The objects of the Offer are to obtain the advantages of itemizing the fairness shares on the inventory exchanges and the sale of shares by the promoting shareholders (being Neha Singh, Abhishek Goyal, Elevation Capital, Accel India IV (Mauritius) Limited, SCI Investments V, Prashant Chandra, Binny Bansal, Sachin Bansal, WGG International Limited, Sahil Barua, Deepak Singh, Trustees, NRJN Family Trust, Milliways Fund LLC, Rathnagirish Mathrubootham, Trustees, Kolluri Living Trust, Apoletto Asia Ltd and Manoj Kumar Gandhi) within the provide.
The firm is not going to get any proceeds from this public provide and the proceeds will totally go to the promoters.
Tracxn Technologies IPO: Financials
“On the financials front, the company’s revenue has grown at a CAGR of 30.4 per cent. 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,” stated Religare Broking analysis.
Tracxn Technologies IPO: GMP Today
As per market observers, Tracxn Technologies shares have fallen from premium (GMP) and now obtainable at a reduction of Rs(-) 4 within the gray market in the present day. The shares of the corporate are anticipated to listing on inventory exchanges BSE and NSE on Thursday, September 20, 2022.
Tracxn Technologies IPO: Share Allotment Process
The finalization of foundation of share allotment of Tracxn Technologies IPO is predicted to happen subsequent week on Monday, October 17, 2022 and if allotted, then the credit score of shares to demat account of bidders will be performed on Wednesday, October 19, 2022. The registrar for this IPO is Link Intime India Private Ltd, due to this fact the allotment utility can be checked on the registrar’s web site right here or on the BSE web site right here.
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