Tracxn Technologies IPO Subscribed 54% On Day 2

The Initial Public Offering (IPO) of Tracxn Technologies was subscribed 54 per cent on the second day of offer on Tuesday.
     
The IPO received bids for 1.15 crore shares against 2.12 crore shares on offer, according to data available with the NSE.
     
The category for Retail Individual Investors (RIIs) was subscribed 2.60 times and the non-institutional investors received 25 per cent subscription.
     
The IPO of up to 3,86,72,208 equity shares is in a price range of Rs 75-80 a share.
     
On Friday, market intelligence platform Tracxn Technologies said it has raised a little more than Rs 139 crore from anchor investors.
     
At the upper end of the price band, the IPO is expected to garner Rs 309 crore.
     
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.
     
IIFL Securities is the manager to the offer.