Flipkart founders-backed Tracxn Technologies mobilises Rs 139 crore from anchor investors ahead of IPO

Market intelligence data provider Tracxn Technologies on October 7 said it has raised Rs 139.22 crore via anchor book ahead of its public issue opening. The bidding for offer will start from October 10 and close on October 12.

The company, in its BSE filing, said anchor investors have subscribed for 1.74 crore equity shares at a price of Rs 80 per share.

Total 15 investors were participants in the company via anchor book, which included Nippon Life India, ICICI Prudential, India Acorn Fund, Ashoka India Equity Investment Trust Plc, Whiteoak Capital, Kotak MF, Abakkus Emerging Opportunities Fund, Reliance General Insurance Company, BNP Paribas Arbitrage, Tara Emerging Asia Liquid Fund, and Motilal Oswal Fund.

Out of the total allocation to anchor investors, 75.26 lakh equity shares were allocated to 4 domestic mutual funds through a total of 6 schemes, the company said.

The Bengaluru-based private market intelligence platform will launch its public issue next week, which comprises only offer for sale of more than 3.86 crore equity shares by promoters and existing shareholders. The fund raising via IPO would be more than Rs 300 crore.

Tracxn co-founders Abhishek Goyal and Neha Singh, and Flipkart founders Binny Bansal and Sachin Bansal are the sellers through offer for sale. Sahil Barua, Deepak Singh, Elevation Capital, Kolluri Living Trust, Milliways Fund LLC, Rathnagirish Mathrubootham, Apoletto Asia, NRJN Family Trust, Manoj Kumar Gandhi, WGG International, Accel India IV (Mauritius), SCI Investments V, and Prashant Chandra were other sellers in offer for sale.

The price band for the offer has been fixed at Rs 75 to Rs 80 per share. Investors can bid for a minimum of 185 shares and in multiples of 185 shares thereafter.

The company has an asset light business model and operates a software as a service (SaaS)-based platform, Tracxn, offering customers private company data for deal sourcing, identifying M&A targets, deal diligence, analysis and tracking emerging themes across industries and markets, through its subscription-based platform.