Private market intelligence firm Tracxn files for an IPO

Advertisement
Private market intelligence firm Tracxn files for an IPO
Canva
  • Tracxn is looking to sell 38.67 million shares in its IPO.
  • The issue will purely consist of an offer for sale to provide exits to existing investors.
  • It now tracks over 1.4 million private companies and works with 855 subscribers.
Advertisement
Bengaluru-based private market intelligence platform Tracxn has filed the draft red herring prospectus (DRHP) to sell 38.67 million shares in its initial public offering (IPO). The eight-year-old company has not disclosed the amount it plans to raise with this public issue.

The IPO would only consist of secondary share sale to provide exits to existing shareholders and promoters. Investors such as Flipkart’s Sachin Bansal and Binny Bansal, Elevation Capital, Accel India and Sequoia Capital India would be selling their shareholdings.

IIFL Securities has been appointed as the book running lead manager to the issue.

Complimentary Tech Event
Discover the future of SaaS in India
The 6-part video series will capture the vision of Indian SaaS leaders and highlight the potential for the sector in the decades to come.Watch on Demand
Our Speakers
Girish Mathrubootham
Brian E. Taptich
ShareholdersOffer for Sale (OFS)
Tracxn’s founders Neha Singh and Abhishek Goyal7.66 million shares
Flipkart’s Binny Bansal and Sachin Bansal1.26 million
Elevation Capital10.98 million shares
Accel India IV Mauritius4.02 million
Sequoia Capital2.18 million shares

Elevation Capital has 21.89% stake in Tracxn, whereas Sachin and Binny Bansal hold 1.26% stake each. Founders Goyal and Singh hold 25.46% stake in the company.

Tracxn was founded in 2013 and launched in 2015. The firm offers private company data for deal sourcing, identifying mergers and acquisition (M&A) targets, deal diligence, analysis and tracking emerging themes across industries and markets.
Advertisement


It claims to track over 1.4 million private companies and works with 855 subscription customers across 50 countries. Its customer base would include venture capital (VC) firms, private equity funds and large corporates.

Tracxn reported a revenue of ₹55.7 crore in the financial year that ended March 2021. The company claims that 70% of its revenue comes from outside India, primarily Europe, Middle East, and Africa (EMEA) and North American markets.

SEE ALSO
From Byju’s to Eruditus — India now has four edtech unicorns, thanks to a $4 billion funds flowing in since 2020
Travel app ixigo files for a ₹1,600 crore IPO
Swiggy reports nearly three-fold increase in annual revenue, in neck and neck race with Zomato

Advertisement
{{}}