Tracxn Technologies made its public stock exchange debut on Thursday, with its shares listed on the National Stock Exchange (NSE) at a premium of 5.6%.
open on stock Against the issue price of 84.5 80 on NSE. On Bombay Stock Exchange (BSE), TraxN is listed at a premium of 3.75% 83.
The tepid debut came amid challenging markets and bearish sentiment, which has affected other startups as well.
Last week, Droom Technology withdrew its initial public offering (IPO). Meanwhile, digital payments firm MobiKwik, which filed its draft red herring prospectus in July last year, has also not gone ahead with its listing.
Share prices of tech-startups, which started in the midst of a boom in financial markets, have also declined in the current year.
The IPO of the Bengaluru-based private market data provider was open for subscription between October 10-12. Through an offer for sale, Tracxn offered to sell 38.67 million shares, each priced at . was between 75-80.
Only 309 cr issue got slow response, oversubscribed- more than 2X on last day of IPO. Qualified institutional investors bid for the third day, oversubscribing 1.66 times.
The retail segment garnered the most interest with oversubscription of 4.87 times. The non-institutional investors category was subscribed 0.8 times.
Tracxn was founded in 2012 by Neha Singh and Abhishek Goyal and is backed by Elevation Capital, Accel Partners, Prime Venture Partners and KB Investments. It has 3,271 users across 1,139 customer accounts in more than 58 countries (as of the end of June) and competes with the likes of Crunchbase, CB Insights, Privco and PitchBook.
Shares of Tracxn ended on 94.20 up 17.8% at the end of the day on NSE.
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