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date of ipo
This IPO will open on 10th October i.e. Monday and can be bid on it till 12th October i.e. Wednesday. Each equity share with a face value of Re 1 has been fixed at Rs 75 to 80. The company plans to raise Rs 310 crore through this. This is completely offer for sale. That is, no fresh shares will be issued in it. Shareholders and promoters will sell 38,672,208 equity shares through OFS. Post the issue, the promoters’ shareholding in the company will come down from 15.28 per cent to 35.65 per cent. He currently holds 50.93 per cent stake in the company.
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how much quota for whom
One lot of Tracxn Tech consists of 185 shares. That is, the retail investor will have to invest a minimum of Rs 14,800. He can bid for a maximum of 13 lots i.e. 2405 shares and invest a maximum of Rs 1,92,400. The IPO will have 75 per cent quota reserve for Qualified Institutional Investors (QII), while the non-institutional investors will have a quota reserve of 15 per cent. A 10% stake will be reserved for retail investors.
company promoter
Among the promoters of the company, co-founders Neha Singh and Abhishek Goyal are about to sell 76.6 lakh shares. At the same time, Flipkart founders Binny Bansal and Sachin Bansal will sell 12.63 lakh shares. Also Elevation Capital, Accel India IV (Mauritius) Limited, SCI Investments V, Prashant Chandra, WGG International Limited, Sahil Barua, Deepak Singh, Trustees, NRJN Family Trust, Milliways Fund LLC, Rathnagirish Mathrubootham, Trustees, Kolluri Living Trust, Apoletto Asia Ltd and Manoj Kumar Gandhi will also sell their stake.
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what does the company do
The allotment of shares of Tracxn Technologies is likely to happen on October 17. At the same time, the listing of the company can be done on BSE and NSE on October 20. Link Intime India Private Limited has been appointed as the Official Registrar of Public Issues. Tracxn Technologies was started in the year 2012. Its founders are Neha Singh and Abhishek Goyal. It provides market intelligence data for private companies. The company has an asset-light business model and operates software as TraxN, a SaaS based platform. As of June 30, 2022, the company has 1,139 customer accounts and 3,271 users in 58 countries.
financial status
The company’s turnover in the financial year 2020 was Rs 6.3 crore and then the company had a loss of Rs 54 crore. The company’s turnover in 2021 was Rs 55.7 crore and loss was Rs 5.4 crore. The turnover of the company in the financial year 2022 was Rs 65.2 crore while the loss stood at Rs 4.9 crore. The company’s business grew 22.9 percent in the first quarter of the financial year 2023. Before the issue opened, the company raised Rs 139.22 crore from anchor investors. Experts have expressed a cautious stance on this. Some have advised investors to stay away from it. He says that the company is yet to recover from the loss and its valuation seems high.
