Comments
The initial public offering of the Flipkart founders backed Tracxn Technologies Ltd (TTL) will close today. The issue so far was subscribed to 0.54 times on the second day of public launch.
The ₹310-crore IPO of the market intelligence data provider that opened for the public on Tuesday saw the retail portion subscribed 2.60 times.
The issue comes at a price band of ₹75-80. Investors can bid for a minimum of 185 equity shares and in multiples thereafter.
As the entire issue is an offer-for-sale, the company will not receive any funds from the IPO.
QIBs yet to bid
While the quota for qualified institutional portion didn’t see any bids so far, the non-institutional segment saw a muted response of 0.40 times.
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.
On Friday, Tracxn Technologies garnered ₹139.22 crore from anchor investors by allocating deciding to allocate 1.74 crore shares at ₹80 a share.
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.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.