Tracxn Technologies' IPO worth up to Rs 309 crore will hit Dalal Street on October 10. The public offer of Tracxn Tech — a Bengaluru-based provider of market intelligence data — is entirely an offer for sale (OFS) of 3.9 crore shares by existing shareholders and promoters, which means the company will not get any proceeds from the issue. The bidding process will remain open for three trading days till October 12.

Share Market Live

NSE

Here's all you need to know about the Tracxn Tech IPO:

Important dates

The basis of allotment is likely to be finalised on October 17 followed by credit of shares to demat accounts on October 19. Tracxn Tech shares are likely to be listed on bourses BSE and NSE on October 20.

Issue price

The company has set a price range of Rs 75-80 per share for the IPO.

Lot size

Potential investors will have to bid for Tracxn Tech shares in lots of 185 — which means one lot will be priced at Rs 13,875-14,800.

Investor quota

Out of the overall issue, 75 percent shares are reserved qualified institutional bidders (QIBs), 15 percent for non-institutional investors (NII) and 10 percent for retail investors.

Promoters

Co-founders Neha Singh and Abhishek Goyal plan to offload up to 77 lakh shares each. Flipkart founders Binny Bansal and Sachin Bansal aim to sell up to 13 lakh shares each. Elevation Capital will sell up to 1.1 crore shares, Accel India IV Mauritius about 40 lakh and SCI Investments V about 21.8 lakh.

Both the co-founders hold a stake of 25.46 percent stake each in the company. Sachin Bansal and Binny Bansal hold 1.26 percent each and Elevation Capital 21.89 percent.

Tracxn counts Elevation Capital, Accel India, Sequoia Capital, 3One4Capital, Ratan Tata, Sachin Bansal and Binny Bansal among its marquee investors.

First Published:Oct 4, 2022 2:41 PM IST