Tracxn Technologies Ltd's initial public offering will open for subscription on October 10. The IPO of the Bengaluru-based analytics firm is an offer for sale (OFS) of up to 38.67 million shares by shareholders and promoters.
The issue closes October 12 and shares will be allotted on October 17. The stock will list three days later.
Co-founders Neha Singh and Abhishek Goyal are looking to sell up to 7.66 million shares each, Flipkart founders Binny Bansal and Sachin Bansal 1.26 million each, Elevation Capital 10.98 million, Accel India IV Mauritius 4.02 million and SCI Investments V 2.18 million shares.
Apart from these, Sahil Barua, Deepak Singh, Trustees, Kolluri Living Trust, Milliways Fund LLC, Rathnagirish Mathrubootham, Apoletto Asia Ltd, Trustees, NRJN Family Trust, Manoj Kumar Gandhi, WGG International Ltd also plans to sell.
Sachin and Binny Bansal hold a 1.26 percent stake each, while Elevation Capital has a 21.89 percent stake in the firm.
IIFL Securities is the sole book-running manager for the issue.
Founded by Goyal and Singh, who hold a 25.46 percent stake each, Tracxn Technologies ranks among the top five players globally in terms of number of companies profiled offering data of private market companies across sectors and geographies, draft documents show.
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 the subscription-based platform, Tracxn.
The firm has an asset-light business model and operates Software as a Service (SaaS)-based platform Tracxn that scanned over 662 million web domains, and profiled over 1.84 million entities across 2,003 feeds categorised across industries, sectors, sub-sectors, geographies, affiliations and networks globally.
As of June 30, 2022, the platform had 3,271 users across 1,139 customer accounts in over 58 countries and its customers include several Fortune 500 companies and/or their affiliates such as Unilever Industries Pvt Ltd, the DRHP said.
For the fiscal year 2021, its total income stood at Rs 55.74 crore against Rs 63.13 crore a year ago. Net loss for the period stood at Rs 5.35 crore down from Rs 54.03 crore last year.