Tracxn Technologies: Allotment Of IPO Shares May Happen Next Week

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Tracxn Technologies: Allotment Of IPO Shares May Happen Next Week
15 Oct 2022
6 min read

News Synopsis

The IPO of Tracxn Technologies, which was open for three days, has been almost double subscribed till the time of its close on Wednesday. The IPO worth ₹309 crores has received bids for 4.27 crore shares as against 2.12 crore shares, as per NSE data. The price band was fixed at ₹75 to ₹80 per share.

According to market experts, Tracxn Technologies shares have fallen at a premium (GMP) in the gray market and are now available at a discount of ₹(-) 4. The company's stock is expected to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on 20 September 2022 (Thursday).

It is believed that the final sale of shares of Tracxn Technologies IPO may take place next week on 17 October 2022 (Monday). If this happens, the shares in the Demat account of the bidders will be credited on October 19, 2022 (Wednesday). The registrar of this IPO is Link Intime India Pvt Ltd, hence the status of its allotment application can be checked on the registrar's website or BSE's website.

The IPO of Tracxn Technologies is an offer-for-sale (OFS) of 38,672,208 equity shares issued entirely by the promoters and investors. The company's promoters Neha Singh and Abhishek Goyal will separately sell 76.62 lakh shares in the OFS. At the same time, 12.63 lakh shares of Flipkart founders Binny Bansal and Sachin Bansal will be sold.

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