Tracxn Applied sciences Itemizing Value: Tracxn Tech makes lacklustre debut, lists at 6% premium over IPO value

The shares of Tracxn Applied sciences made a lacklustre debut on the bourses on Thursday because the inventory listed at Rs 84.5, a premium of 5.63% over its subject value of Rs 80 on the Nationwide Inventory Alternate (NSE).

On BSE, the counter listed at Rs 83, a premium of three.75%.

The gray market had yesterday hinted at a tepid itemizing as shares had been out there at a reduction of Rs 3 apiece.

The Rs 309.38-crore preliminary public providing (IPO) of Tracxn Applied sciences was open for subscription between October 10-12 whereby the corporate offered its 38,672,208 fairness shares by way of provide on the market (OFS) route within the vary of Rs 75-80 per share.

The problem was general subscribed simply above two occasions throughout the bidding course of. The quota for retail bidders was subscribed 4.87 occasions, whereas institutional patrons’ allocation was subscribed 1.66 occasions. The HNI portion fetched solely 80% bids.

The corporate is not going to obtain any proceeds from the difficulty and your entire sum will go to the promoting shareholders. The corporate mentioned that it intends to achieve the advantages of itemizing the shares on the inventory exchanges.

Based in 2013, Tracxn Applied sciences offers market intelligence knowledge for personal firms. The corporate has an asset-light enterprise mannequin and operates a Software program as a Service (SaaS) primarily based platform named Tracxn.

The corporate’s intensive world database and customised options and options enable its clients to supply and observe firms throughout sectors and geographies to handle their necessities.

For the fiscal yr 2021, the corporate clocked a complete income of Rs 55.74 crore, which was Rs 63.13 crore a yr in the past. The corporate reported a web lack of Rs 5.35 crore, which was considerably decrease than a web lack of Rs 54.03 crore final yr.

Analysts had been involved concerning the IPO’s excessive valuations, lower than stellar subscription numbers and the difficulty being completely an OFS.

“Traders should look ahead to just a few quarters earlier than deciding whether or not to speculate or not for the long run,” mentioned Aayush Agrawal, Senior Analysis Analyst,

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(Disclaimer: Suggestions, solutions, views, and opinions given by the consultants are their very own. These don’t symbolize the views of Financial Occasions)