Bangalore-based private market intelligence platform — Tracxn Technologies — has set a price band of Rs 75-80 per share for its public offer that opens for subscription on October 10 and closes on October 12.
The issue consists of an offer for sale (OFS) of 3.86 crores (38,672,208) shares and at the upper price band the offer value works out to Rs 309.36 crore.
The selling shareholders in the OFS include founders Neha Singh and Abhishek Goyal, Elevation Capital, Flipkart founders Binny Bansal and Sachin Bansal, Delhivery founder Sahil Barua, Freshwork’s Girish Mathrubootham, SCI Investments V, Accel India, among others.
Tracxn has some marquee angel investors such as Ratan Tata, Neeraj Arora, Amit Ranjan, Anand Rajaraman, Amit Singhal and VC investors such as Accel, Elevation, KB Investment, and Sequoia among others.
The company will not receive any proceeds from the offer and the listing of the shares will enhance the brand name and provide liquidity to existing shareholders, the offer document said.
With an asset-light business, Tracxn currently operates as a Software as a Service (SaaS) platform with 3271 users across 1139 customer accounts in over 58 countries as of June 30.
Tracxn, which was launched in 2015 as a subscription-based platform, offers data of private companies for deal sourcing, identifying M&A targets, analysis and tracking emerging themes across industries and markets.
Tracxn has profiled over 1.84 million entities and rank samong the top five players globally in terms of the number of companies profiled, which offers data of private companies across sectors and geographies according to a Frost and Sullivan report.
The company’s revenue from operations for the year ended March 31 was Rs 63.5 crore compared with Rs 43.7 crore in the previous year.
