Tracxn Tech sets IPO price band at Rs 75-80 a share

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Tracxn Technologies Ltd has set price band at Rs 75-80 a share for its initial public offering (IPO) which will open for subscription on October 10 and close on October 12.

Anchors bidding will start on October 7 and shares will be allotted on October 17. The stock will be listed on October 20.

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. At the upper end of the price band, the firm will raise around Rs 310 crore.

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.

Also planning to sell are Sahil Barua, Deepak Singh, Trustees, Kolluri Living Trust, Milliways Fund LLC, Rathnagirish Mathrubootham, Apoletto Asia Ltd, Trustees, NRJN Family Trust, Manoj Kumar Gandhi, and WGG International Ltd.

Sachin and Binny Bansal hold 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 25.46 percent stake each, Tracxn Technologies ranks among top five players globally by number of companies profiled.

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.

The firm has an asset-light business model and operates Software as a Service (SaaS)-based platform Tracxn that scans over 662 million web domains, and profiles over 1.84 million entities across 2,003 feeds categorised across industries, sectors, sub-sectors, geographies, affiliations and networks globally.

As of June 30, the platform had 3,271 users across 1,139 customer accounts in over 58 countries and customers included several Fortune 500 companies and/or their affiliates such as Unilever Industries, the draft papers for the IPO said.