Tracxn Tech IPO opens on Oct 10
Private market intelligence platform Tracxn Technologies, based in Bengaluru, has set the pricing range for its upcoming initial public offering at Rs. 75 to Rs. 80 per equity share. The subscription period for the initial public offering (IPO) (Tracxn Tech IPO ) will run from October 10 to October 12, 2022. Investors may place a minimum 185 equity share bid and any subsequent bids in multiples of 185 equity shares.
The promoters and current owners of the company are offering 38,672,208 equity shares for sale.
Abhishek Goyal and Neha Singh, the co-founders of Tracxn, will sell up to 7,662,655 and 7,662,655 equity shares, respectively.
Binny Bansal and Sachin Bansal, the founders of Flipkart, will also sell up to 1,263,096 and 1,263,096 equity shares, respectively.
Tracxn Tech IPO
According to the Frost & Sullivan report stated in its RHP, Tracxn Technologies is one of the top global market intelligence providers for private company data and ranks among the top five players globally in terms of the number of companies profiled offering data of private market companies across sectors and geographies.
In addition to funding from Ratan Tata, the NRJN Family Trust, Neeraj Arora, Sachin Bansal, Binny Bansal, Amit Ranjan, Girish Mathrubootham, Anand Rajaraman, Amit Singhal, and Ashish Gupta, Elevation Capital, Accel Partners, Sequoia Capital, Prime Venture Partners, and KB Investments, Tracxn was founded in 2012 by Neha Singh and Abhishek Goyal.
As of June 30, 2022, the company’s software as a service (“SaaS“)-based platform, Tracxn, which is based on an asset-light business model, had scanned over 662 million web domains and had profiled over 1.84 million entities across 2,003 feeds categorised across industries, sectors, sub-sectors, geographies, affiliations, and networks globally.
Through its subscription-based platform, the company provides customers with private corporate data for deal sourcing, identifying M&A targets, deal diligence, analysis, and tracking emerging patterns across industries and markets, among other applications.
As of June 30, 2022, the company has 3,271 users across 1,139 Customer Accounts in more than 58 countries, and certain Fortune 500 companies and/or their affiliates were among its clients.
Link Intime India Private Limited serves as the issue’s registrar, while IIFL Securities Limited is the only book-running lead manager.