Tracxn Tech IPO listing: Stock debuts at Rs 84.50, 6% premium over issue price

Tracxn Tech IPO had received ‘avoid’ ratings from a few brokerages namely Anand Rathi, Choice Broking and Swastika Investmart. The issue was sold from October 10 to October 12 in the Rs 75-80 price band.

Updated Oct 20, 2022 9:57 AM IST

Tracxn Tech IPO listing: Stock debuts at Rs 84.50, 6% premium over issue price

Tracxn Tech IPO attracted 4.87 times retail bids. The quota reserved for qualified institutional buyers was subscribed 1.66 times

Tracxn Technologies on Thursday made a decent market debut, as the scrip got listed at Rs 84.50 on NSE, a 5.63 per cent premium over its issue price of Rs 80. On BSE, the stock got listed at Rs 83, up 3.75 per cent.

A global provider of differentiated private market data and intelligence, Tracxn Technologies deals in a highly competitive industry. The Bengaluru-based firm posted losses in FY22 and FY21 but clocked profits in June quarter of FY23.

Many brokerages such as Anand Rathi, Choice Broking and Swastika Investmart had ‘avoid’ ratings on the Rs 309-crore IPO, which was sold from October 10 to October 12 in the Rs 75-80 price band.

The issue had received 2.01 times subscription, largely due to retail participation, as the quota reserved for non-institutional investors went undersubscribed at 80 per cent. Tracxn Technologies IPO attracted 4.87 times retail bids. The quota reserved for qualified institutional buyers was subscribed 1.66 times.

The previous two IPOs by Electronics Mart India (71.93 times bids) and Harsha Engineers International (74.70 times) had received strong investor response. While Electronics Mart India got listed at a 53 per cent premium to issue price, Harsha Engineers Shares had debuted at a 36 per cent premium.

Tracxn Technologies was commanding 'nil' grey market ahead of its market debut.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

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Amit Mudgill

A financial journalist with over 18 years of experience in print and digital media, I cover India's capital markets, focusing on stocks, IPOs, mutual funds, corporate earnings, and market trends. Currently with Business Today, I report on equities, corporate developments, fundraising activity, and the broader investment landscape, delivering timely, data-backed insights to investors and readers.

Previously, I worked with The Economic Times and Deccan Chronicle, covering business, markets, and corporate affairs. My experience spans breaking news, analysis, and long-form features, with a strong focus on financial markets and investment-related reporting.

I am on the go 24/7: Saying 'Good Night' to Dow Jones and 'Good Morning' to Gift Nifty comes naturally. Ask me about data and you'll hear stories. Away from markets, I enjoy stargazing, astrophotography, reading about India's neighbourhood, and playing video games.

Published on: Oct 20, 2022 9:57 AM IST

Tracxn Tech IPO listing: Stock debuts at Rs 84.50, 6% premium over issue price

Tracxn Tech IPO had received ‘avoid’ ratings from a few brokerages namely Anand Rathi, Choice Broking and Swastika Investmart. The issue was sold from October 10 to October 12 in the Rs 75-80 price band.

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