Tracxn Technologies IPO opens today
Oct 10, 2022
New Delhi [India], October 10 : The initial public offering (IPO) of Tracxn Technologies has opened on the equity markets today. The three-day subscription of Tracxn Technologies IPO will remain open for bidding till Wednesday.
The global market intelligence provider has fixed its IPO prices at Rs 75 and Rs 80 per equity share. The market intelligence data provider company aims to generate Rs 309.38 crore from its public offer. The public issue is a book build issue and it is 100 per cent offer for sale (OFS) in nature.
The company supplies its products to customers in over 25 countries covering five continents i.e., North America, Europe, Asia, South America and Africa.
The company offers private company data to its customers for deal sourcing, identifying mergers and acquisitions (M&A) targets, deal diligence, analysis, and tracking emerging themes across industries and markets, among other uses, through its subscription-based platform, Tracxn.
The objectives of the offer are to achieve the benefits of listing the equity shares on the stock exchanges and the sale of shares by the selling shareholders in the offer.
Among the shareholders, prominent ones are Neha Singh, Abhishek Goyal, Elevation Capital, Accel India IV (Mauritius), SCI Investments V, Prashant Chandra, Binny Bansal, Sachin Bansal, WGG International Limited, Sahil Barua, Deepak Singh, Trustees, NRJN Family Trust, and Milliways Fund, among others.
The company will not get any proceeds from this public offer and the proceeds will entirely go to the promoters.
The company also said that it has been incurring losses in the last three years. However, it turned into profits for the quarter ending June 2022.
