InvestorQ : Can you tell me about the listing day performance of Tracxn Technologies IPO on 20th October 2022?
Arti Chavan made post

Can you tell me about the listing day performance of Tracxn Technologies IPO on 20th October 2022?

Rutuja Nigam answered.
1 month ago

Tracxn Technologies had a rather unimpressive listing on 20th October, although it must be said that the stock managed to gain and hold above those levels. It may be recollected that the IPO was subscribed 2.01 times overall while the QIB portion was subscribed just 1.66 times and the HNI / NII portion was undersubscribed. Hence it was rather surprising that the IPO price was fixed at the upper end of the band at Rs80 per share. The stock had a price band of Rs.75 to Rs.80in the IPO. Listing was at a marginal premium, but the good news is that the stock held on to gains and even built on it. Here is the listing update.

On 20th October, Tracxn Technologies IPO got listed on the NSE at a price of Rs.84.50, which translates into a very paltry premium of 5.63% above the issue price of Rs.80. If you look at the listing on the BSE, the stock listed at Rs.83.00, which is again a very marginal premium of 3.75% over the issue price. At the end of the first day of trading, Tracxn Technologies closed at a price of Rs.94.20 on the NSE. That is 17.75% higher than the issue price of Rs80 and 11.48% higher than the listing price in the morning. If you look at the BSE, Tracxn closed at Rs.93.35 per share; 16.69% above the issue price and premium of 12.47% over listing price.

In short, on both the exchanges, the stock may have marginally listed just about marginally above the IPO issue price but closed the day with relatively healthy premium over the IPO price of Rs80. On Day-1 of listing, Tracxn Technologies scaled a high price of Rs.100 on the NSE and a low of Rs.83. On the BSE, Tracxn Technologies Ltd touched a high of Rs.99.60 and a low of Rs.83. The key takeaway was that on both the stock exchanges, Tracxn Technologies listed close to the low of the day but closed the trading day very near to the high of the day, showing underlying strength in the stock through the day.

How were the volumes at the close of Day-1? On the first day of listing, Tracxn Technologies traded 217.24 lakh shares on NSE translating into traded value of Rs.200.02 crore. In terms of stock ranking the stock was ranked 17th on the NSE by traded volumes but it did not figure anywhere in the top 25 on value rankings, which is obvious. On the BSE, Tracxn traded a total of 21.86 lakh shares with a traded value of Rs.20.23 crore. The stock of Tracxn was ranked at 25th place in terms of traded value, but did not rank anywhere in the top in terms of traded volumes. However, it was ranked 11th in terms of the number of trades.