New Delhi: Market intelligence platform Tracxn Technologies on Friday said it has raised a little more than Rs 139 crore from anchor investors. The company’s Initial Public Offering (IPO) will be entirely an Offer For Sale (OFS) of 38,672,208 equity shares by promoters and investors. It will open for subscription on October 10.
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 BSE website.
India Acorn Fund,
Arbitrage, Whiteoak Capital, Kotak Mutual Fund (MF), MF, Nippon India MF and General Insurance Company are among the anchor investors.
The OFS will see sale of up to 76.62 lakh shares each by promoters — Neha Singh and Abhishek Goyal –, up to 12.63 lakh shares each by Flipkart founders — Binny Bansal and Sachin Bansal.
Up to 1.09 crore shares will be offloaded by Elevation Capital, 40.2 lakh shares by
India IV Mauritius, 21.81 lakh shares by SCI Investments V, 2.07 lakh shares by Sahil Barua, among others.
The issue, with a price band of Rs 75-80 per share, will open for public subscription on October 10 and close on October 12. At the upper end of the price band, the IPO is expected to garner Rs 309 crore.
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.
Tracxn was launched in 2015 by Neha Singh and Abhishek Goyal who have had their stints as venture capitalists at Sequoia and Accel Partners, respectively.
As of June this year, the company had 3,271 users across 1,139 customer accounts in over 58 countries.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsBit.us is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
