Tracxn Technologies Ltd IPO lists at premium of 5.63% and edges higher

Tracxn Technologies Ltd had a tepid listing on 20th October 2022, listing at a premium of just 5.63%, but closing the day well above the issue price; and also well above the listing price. While the stock did show some bouts of volatility during the day, it closed the day with a strong rally on its shoulders and a robust return to the IPO investors. With overall subscription of just 2.01X, with QIB portion subscribed just 1.66X and the HNI / NII portion undersubscribed, the listing was expected to be rather tepid or even a discount listing. In that background, the actual listing performance was relatively a lot better. Here is the Tracxn Technologies Ltd listing story on 20th October 2022.

The IPO price was fixed at the upper end of the band at Rs80 per share which was rather surprising and ambitious considering the tepid 2.01X overall subscription. The price band for the IPO was Rs.75 to Rs.80. On 20th October, the stock of Tracxn Technologies Ltd listed on the NSE at a price of Rs.84.50, a premium of 5.63% above the issue price of Rs.80. On the BSE also, the stock listed at Rs.83.00 a marginal premium of 3.75% on the issue price.

On the NSE, Tracxn Technologies Ltd closed on 20th October 2022 at a price of Rs.94.20, a first day closing premium of 17.75% on the issue price of Rs80 and a premium of 11.48% on the listing price in the morning. On the BSE, the stock closed at Rs.93.35, a first day closing premium of 16.69% on the issue price and the closing price was also at a premium of 12.47% over the listing price as the stock gained traction sharply post listing on BSE. On both the exchanges, the stock may have marginally listed above the IPO issue price but closed Day-1 at a relatively healthy premium to the issue price. The trading action for the day showed a lot of inherent strength displayed by the stock on the day of listing.

On Day-1 of listing, Tracxn Technologies Ltd touched a high of Rs.100 on the NSE and a low of Rs.83. The premium held through the day. On Day-1 of listing, the Tracxn Technologies Ltd stock traded a total of 217.24 lakh shares on NSE amounting to value of Rs.200.02 crore.  On 20th October 2022, Tracxn Technologies Ltd was ranked the 17th most active share on NSE by traded volumes. However, in terms of traded value, Tracxn Technologies did not figure anywhere in the top 25 stocks for the day on NSE.

On the BSE, Tracxn Technologies Ltd touched a high of Rs.99.60 and a low of Rs.83. On BSE, the stock traded a total of 21.86 lakh shares amounting to value of Rs.20.23 crore. It was ranked at the 25th place in terms of traded value. However, by traded volumes, the stock of Tracxn Technologies was ranked 29th on the BSE. However, it was ranked 11th in terms of the number of trades executed on the counter on the day of listing.

At the close of Day-1 of listing, Tracxn Technologies Ltd had a market capitalization of Rs.936.40 crore with free-float market cap of Rs.196.64 crore.