Tracxn Technologies announces buyback with 21% premium, shares rally 3%
Tracxn Technologies
were in focus on Thursday, rising 2.9% at Rs 59.80, after the company announced that its shareholders had approved its share buyback proposal. The buyback price has been set at Rs 70 per share, offering a 21% premium over the previous day's closing price of Rs 58.04.
In a regulatory filing, the company confirmed that shareholders passed a special resolution via postal ballot, approving the repurchase of up to 11,42,857 fully paid-up equity shares, representing 1.07% of the total equity share capital.
The buyback will be carried out through the tender offer route, in accordance with the Companies Act, 2013 and SEBI Buyback Regulations, 2018. The total buyback size is capped at Rs 7.99 crore, which accounts for 23.70% of the company's paid-up equity capital and free reserves, based on audited financials for FY25.
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The company has set Friday, July 18, 2025, as the record date to determine the entitlement and names of eligible shareholders who can participate in the buyback.
The buyback will be funded in cash, and the record date for identifying eligible shareholders will be announced by the Buyback Committee in due course. The buyback size excludes transaction-related costs such as taxes, SEBI filing fees, brokerage, and legal expenses.
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The move is aimed at enhancing shareholder value and optimizing the company's capital structure.
On the technical front, the 14-day Relative Strength Index (RSI) for Tracxn Technologies stands at 52.1, indicating a neutral momentum. RSI is a commonly used indicator to assess whether a stock is overbought or oversold — values below 30 suggest oversold conditions, while above 70 indicate overbought levels.
Currently, the stock is trading above 6 out of 8 key Simple Moving Averages (SMAs), reflecting short- to mid-term strength. However, it continues to trade below the longer-term 150-day and 200-day SMAs, signaling that the broader trend may still be weak or yet to confirm a long-term reversal.
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