Mumbai, October 07, 2022 (GPN): Tracxn Technologies, the leading global market intelligence providers for private company data has garnered Rs 139.22 crore from anchor investors ahead of its initial share sale that opens for public subscription on Monday, October 10, 2022. The company informed the bourses that it allocated 17,402,494 shares at Rs. 80 per share on Friday, October 07, 2022, to anchor investors.

Foreign Portfolio Investors who participated in the anchor were India Acorn, BNP Paribas Arbitrage- ODI, Ashoka India Equity Investment PLC, Tara Emerging Asia Liquid Fund, Kotak Offshore (India Midcap Fund).

In addition, shares have been allocated to domestic funds Nippon Life, ICICI Prudential, Whiteoak Capital Flexi Cap Fund, Kotak Pioneer Fund, Reliance General Insurance, Motilal Oswal are among the investors that participated in the anchor book. Out of the total allocation of 17,402,494 equity shares to the anchor investors, 7,526,910 equity shares were allocated to 4 mutual funds through 6 schemes amounting to Rs 60.22 crore i.e. 43.25% of the Total Anchor Book Size.

Founded in 2012 by Neha Singh and Abhishek Goyal, Tracxn have received investments from Ratan Tata, the NRJN Family Trust, Neeraj Arora, Sachin Bansal, Binny Bansal, Amit Ranjan, Girish Mathrubootham, Anand Rajaraman, Amit Singhal and Ashish Gupta, Elevation Capital, Accel Partners, Sequoia Capital, Prime Venture Partners and KB Investments.

The company has an asset light business model and operates a Software as a Service (“SaaS”)-based platform, Tracxn, that has scanned over 662 million web domains, and profiled over 1.84 million entities across 2,003 Feeds categorized across industries, sectors, sub-sectors, geographies, affiliations and networks globally, as of June 30, 2022.

The firm offers customers private company data for deal sourcing, identifying M&A targets, deal diligence, analysis and tracking emerging themes across industries and markets, among other uses, through its subscription-based platform.

The company has 3,271 users across 1,139 Customer Accounts in over 58 countries, as of June 30, 2022 and its customers include a number of Fortune 500 companies and/or their affiliates

Over 70% of the company’s revenue comes from outside India – primarily APAC, EMEA and North America, the release said. In FY22, 29% revenue from India, 27% from US, and 44% from other countries. Significant cost advantages from India-based operations as a result of lower remuneration cost.

Tracxn Technologies’ for fiscal 2021-22 posted a revenue of Rs 63.45 crore from operations, a rise by 44.94% as compared to Rs 43.78 crore in fiscal 2020-21, primarily due to an increase in income from sale of subscription services of its platform. However, there was a decreased in restated loss to Rs 4.85 crore for fiscal 2022 against a restated loss of Rs 5.35 crore for fiscal 2021. For the three months ended 30 June, 2022 it posted a rise of 22.93% in its revenue from operations to Rs 18.40 crore from Rs 14.97 crore for the same period a year ago. However, it posted a net profit of Rs 0.84 crore in the three months ended June 30, 2022 compared to a loss of Rs 0.72 crore in the three months ended June 30, 2021.

IIFL Securities Limited is the sole book running lead manager and Link Intime India Private Limited is the registrar to the issue.

IPO Details

The offer is an Offer for Sale aggregating to 38,672,208 equity shares by the company’s promoters and existing shareholders.

Tracxn cofounders Abhishek Goyal will offload up to 7,662,655 equity shares and Neha Singh will offload up to 7,662,655 equity shares. Flipkart founders Binny Bansal will offload up to 1,263,096 equity shares and Sachin Bansal will offload up to 1,263,096 equity shares, up to 207,548 by Sahil Barua, up to 315,774 by Deepak Singh, up to 10,980,885 by Elevation Capital, up to 267,915 by Trustees, Kolluri Living Trust, up to 147,976 by Milliways Fund LLC, up to 295,952 by Rathnagirish Mathrubootham, up to 147,976 by Apoletto Asia Ltd, up to 591,904 by Trustees, NRJN Family Trust, up to 147,976 by Manoj Kumar Gandhi, up to 881,602 by WGG International Ltd, up to 4,017,506 by Accel India IV (Mauritius) Ltd, up to 2,181,692 by SCI Investments V and up to 636,000 by Prashant Chandra.

The Company is proposing to open its initial public offering of Equity Shares (the “Offer”) on Monday, October 10, 2022, and closes on Wednesday, October 12, 2022. The price band for the Offer has been determined at Rs 75 – Rs 80 per equity share.

The IPO will fetch Rs 309.38 crore at the upper end of the price band.

Investors can bid for a minimum of 185 equity shares and in multiples of 185 equity shares thereafter.

The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended, read with Regulation 31 of the SEBI ICDR Regulations.

The Offer is being made through the Book Building Process, wherein not less than 75% of the Offer shall be available for allocation to Qualified Institutional Buyers, not more than 15% of the Offer shall be available for allocation to Non-Institutional Bidders and not more than 10% of the Offer shall be available for allocation to Retail Individual Bidders.Ends