Market intelligence platform Tracxn Technologies received bids for 49,56,520 shares against 2,12,69,714 shares on offer on the first day of its initial public offering on Monday, as per NSE data.
The IPO will remain open for bidding till Wednesday.
On the first day of the subscription, the portion for retail individual investors (RIIs) was subscribed 1.23 times. The category for non-institutional investors received 4% subscription.
The IPO of up to 3,86,72,208 equity shares is in a price range of Rs 75-80 a share.
Tracxn had said on Friday that it had raised a little more than Rs 139 crore from anchor investors. It has decided to allocate a total of 1.74 crore equity shares to anchor investors at Rs 80 apiece, aggregating the transaction size to Rs 139.22 crore, according to a circular uploaded on the BSE website.
India Acorn Fund, BNP Paribas Arbitrage, Whiteoak Capital, Kotak Mutual Fund, ICICI Prudential MF, Nippon India MF and Reliance General Insurance Company are among the anchor investors.
The offer-for-sale will see sales of up to 76.62 lakh shares each by the promoters–Neha Singh and Abhishek Goyal–and up to 12.63 lakh shares each by Flipkart founders Binny Bansal and Sachin Bansal.
At the upper end of the price band, the IPO is expected to garner Rs 309 crore. IIFL Securities is the manager to the offer.
Tracxn was launched in 2013 by Neha and Abhishek who earlier worked as venture capitalists at Sequoia Capital and Accel Partners, respectively.
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 in India.
Tracxn offers information on private companies to its customers for deal sourcing, identifying mergers and acquisitions targets, deal diligence, analysis, and tracking emerging themes across industries and markets, among other uses, through its subscription-based platform.
(Additional inputs added for context)