The ₹310-crore initial public offering of Flipkart-backed Tracxn Technologies Ltd (TTL), a market intelligence data provider, opens for public subscripton on Monday, October 10. The issue, which comes at price band of ₹75-80, will close on Wednesday. Investors can bid for a minimum of 185 equity shares and in multiples of 185 equity shares thereafter.
As the entire issue is an offer-for-sale, the company will not receive any funds from the IPO.
Through the issue, promoters and shareholders plan to sell 3,86,72,208 shares. After the issue, the promoter shareholding will decline by 15.28 percentage points to 35.65 per cent.
Anchor investors
On Friday, Tracxn Technologies garnered ₹139.22 crore from anchor investors by deciding to allocate 1.74 crore shares at ₹80 a share to anchor investors.
Foreign Portfolio Investors who participated in the anchor included India Acorn, BNP Paribas Arbitrage- ODI, Ashoka India Equity Investment PLC, Tara Emerging Asia Liquid Fund, Kotak Offshore (India Midcap Fund).
Among the domestic funds were Nippon Life, ICICI Prudential, Whiteoak Capital Flexi Cap Fund, Kotak Pioneer Fund, Reliance General Insurance, Motilal Oswal are among the investors that participated in the anchor book.
The company has an asset light business model and operates a Software as a Service (SaaS)-based platform. The firm offers customers private company data for deal sourcing, identifying M&A targets, deal diligence, analysis and tracking emerging themes across industries and markets, through its subscription-based platform.
IIFL Securities Limited is the sole book running lead manager and Link Intime India Private Limited is the registrar to the issue.
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Published on October 10, 2022
