te IPO Alert: Tracxn Technologies IPO to open on October 10 — check price band, IPO closing date, other details | Zee Business

IPO Alert: Tracxn Technologies IPO to open on October 10 — check price band, IPO closing date, other details

IPO Alert: 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.

IPO Alert: Tracxn Technologies IPO to open on October 10 — check price band, IPO closing date, other details
IPO Alert: At the upper end of the price band, the IPO is expected to garner Rs 309 crore. Pic: PTI

Private market intelligence platform Tracxn Technologies on Tuesday said it has fixed a price band of Rs 75-80 per share for its Rs 309-crore initial public offering (IPO).

The initial share-sale will open for public subscription on October 10 and close on October 12, the company said in a statement.

The IPO will be entirely an offer-for-sale (OFS) of 38,672,208 equity shares by promoters and investors.

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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 Accel India IV Mauritius, 21.81 lakh shares by SCI Investments V, 2.07 lakh shares by Sahil Barua, among others.

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.

It is a comprehensive B2B information platform that identifies, tracks and analyses private market companies and startups on deal sourcing, deal diligence and has the largest global coverage in emerging technology sectors such as artificial intelligence, virtual reality, robotics, and blockchain.

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 and its customers include a number of Fortune 500 companies and/or their affiliates.

IIFL Securities is the sole book-running lead manager to the issue.

Written By: PTI
Updated: Tue, Oct 04, 2022
04:51 pm
New Delhi, PTI
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