Market intelligence platform Tracxn Technologies said on Friday that it has raised a little over Rs 139 crore from anchor investors.
The company’s initial public offering (IPO) will be entirely an offer for sale (OFS) of 38,672,208 equity shares by promoters and investors. It will open by subscription on October 10.
It has decided to allot a total of 1.74 crore equity shares to anchor investors at Rs 80 each, taking the deal size to Rs 139.22 crore, according to a circular posted on the BSE website.
India Acorn Fund, BNP Paribas Arbitrage, Whiteoak Capital, Kotak Mutual Fund (MF), ICICI Prudential MF, Nippon India MF and Reliance General Insurance Company are among the anchor investors.
The SFO will see the sale of up to 76.62 lakh shares each by promoters — Neha Singh and Abhishek Goyal — up to 12.63 lakh shares each by Flipkart founders — Binny Bansal and Sachin Bansal.
Elevation Capital will offload up to 1.09 million shares, 40.2 lakh shares of Accel India IV Mauritius, 21.81 lakh shares of SCI Investments V, 2.07 lakh shares of Sahil Barua, others.
The issue, with a price band of Rs 75-80 per share, will open for public subscription on October 10 and close on October 12. At the higher end of the price range, the IPO is expected to fetch Rs 309 crore.
The Bengaluru-based company operates on a software-as-a-service (SaaS) model and is among the leading providers of market intelligence for private enterprise data.
Tracxn was launched in 2015 by Neha Singh and Abhishek Goyal, who have had stints as venture capitalists at Sequoia and Accel Partners, respectively.
As of June this year, the company had 3,271 users in 1,139 customer accounts in more than 58 countries.