Flipkart-Founders Backed Technology Stock Opens IPO, Bid Starts Tomorrow, Check Price Band To Buy

Tracxn Technologies, a top private market intelligence company is set to bid its IPO or a public issue tomorrow. The offer will be open from October 10 to October 12. The IPO is will be available on BSE and NSE, it is expected to be listed on October 20, 2022. The IPO will comprise only an offer for the sale of around 3.86 crore equity shares by promoters and existing shareholders. Tracxn is expecting to raise more than Rs. 300 crore via IPO. Flipkart co-founders Binny Bansal and Sachin Bansal two prominent investors of Tracxn.

The price band for the IPO has been fixed at Rs. 75 to Rs. 80 per share by the company. Investors will be able to bid for a minimum of 185 shares and in multiples of 185 shares thereafter. According to reports, Tracxn has raised Rs. 139.22 crore via anchor book ahead of its public issue opening, last Friday, October 7.

The company has informed that out of the total allocation to anchor investors, 75.26 lakh equity shares were allocated to 4 domestic mutual funds through a total of 6 schemes.

The Tracxn IPO is a book build issue, which will be 100% offer for sale (OFS) in nature. So, the IPO will not be available to the company.