Tracxn Tech Shares Climb Nearly 6% In Debut Trade

Shares of Tracxn Technologies climbed nearly 6 per cent in debut trade on Thursday against the issue price of Rs 80.
    
The stock made its debut at Rs 83, registering a rise of 3.75 per cent against the issue price on BSE. It further climbed 23.68 per cent to Rs 98.45.
    
At the NSE, it listed at Rs 84.50, higher by 5.62 per cent. In the broader market, the 30-share BSE benchmark was trading 116.15 points or 0.20 per cent lower at 58,991.04.
    
The initial public offering (IPO) of Tracxn Technologies was subscribed two-times on the final day of the offer last week.
    
The IPO of up to 3,86,72,208 equity shares had a price range of Rs 75-80 a share.
    
The Bengaluru-headquartered company operates on a Software as a Service (SaaS) model and is among the leading market intelligence providers for private company data.
    
Tracxn was launched in 2015 by Neha Singh and Abhishek Goyal, who have had their stints as venture capitalists at Sequoia and Accel Partners, respectively.