Tracxn Technologies IPO: Flipkart Founders-Backed IPO Launch

Tracxn Technologies IPO: The IPO (initial public offering) of Flipkart founders-backed Tracxn Technologies Limited is going to launch its Initial Public Offer today.

Tracxn Technologies IPO: Today marks the beginning of the initial public offering (IPO) of Tracxn Technologies Limited, which is supported by the Flipkart founders. 

The public offer will accept subscriptions until the 12th of October, which is the last day (Wednesday).

Price Band of Tracxn Technologies IPO

The range of prices for the offer has been set at ₹75 to ₹80 per equity share with a face value of ₹1. The net offer will be divided into three parts: 

• 15% for non-institutional investors
• 10% for retail investors, and
• 75% of the entire offer size will be allocated for qualified institutional buyers.

An initial lot size of 185 shares and multiples thereof are available for investors to bid on. At the upper end of the pricing range, the minimum investment for a retail investor equals out to Rs 14,800 for 185 shares. 

For a sum of Rs 1,92,400, an individual investor may apply for up to 13 lots, or 2,405 shares.

Objectives of Tracxn Technologies IPO

The purpose of the Offer is to capitalize on the advantages of the equity shares’ listing on stock exchanges and the sale of shares by the selling shareholders –

(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) in the offer.

The company won’t receive any money from this public offering; all of the money will go to the promoters.

Financials of Tracxn Technologies IPO

According to the company’s DRHP, as of June 30, 2022, the portal had 3,271 users spread among 1,139 customer accounts in more than 58 countries, and its clients included a number of Fortune 500 corporations and/or their affiliates.

The company reported total sales of Rs 55.74 crore for the fiscal year 2021, down from ₹ 63.13 crore the previous year. 

A net loss of ₹ 5.35 crore was reported by the company, which is a considerable decrease from the net loss of ₹ 54.03 crores the previous year.

Link Intime India has been chosen as the issue’s registrar, while IIFL Securities is the only book-running lead manager. Both the BSE and NSE will list the company’s shares.

GMP of Tracxn Technologies IPO

Tracxn Technologies’ initial public offering (IPO) gray market premium (GMP) is currently valued at Rs 6, according to market experts.