Tracxn Technologies is bringing his IPO, Flipkart will also sell its share

Tracxn Technologies (an analytics company) is coming up with its initial public offering (IPO) soon as the company has also enrolled its draft papers with market regulator body SEBI for the same. According to DRHP, the initial share will be sold as 38.67 million equity shares. Tracxn saw 12.4% jump in operating revenue which grew from Rs 33.2 crore in FY19 to Rs 37.33 crore in FY20 and annual losses reduce by 11% to Rs 19.3 crore in FY20.

Earlier, retail wealth management firm Prudent Corporate Advisory Services Company launched its Initial public offering (IPO)n. The private market intelligence platform Tracxn Technologies is soon going to bring its IPO to the market for investors. The company has also enrolled its draft papers with market regulator body SEBI for the same. As per the draft Red Herring Prospectus (DRHP), the initial share under OFS will be available for sale to promoters as 38,672,208 equity shares and shareholders selling their stake.

Shares worth Rs 7.62 lakh will be sold under OFS and shares worth Rs 12.63 lakh will be sold by Neha Singh and Abhishek Goel who hold hold 25.46 per cent stake each in Tracxn Technologies. In addition, shares worth Rs 1.09 crore will also be sold under Elevation Capital by Flipkart founders Binny Bansal and Sachin Bansal. While Excel India IV Mauritius will sell shares worth Rs 40.2 lakh, SCI investment V will also sell its shares worth Rs 40.2 lakh. In addition, shares will also be sold by other shareholders.

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The company acts as a software as a service-based (SaaS) model and is one of the few leading and leading companies to provide market intelligence for data of private companies. The headquarters of this company is located in Bengaluru and it provides a comprehensive B2B information platform that identifies and tracks analysis deal sourcing, deal delivery for private market companies and startups, besides the firm providing the largest global coverage in emerging technology sectors such as Artificial Intelligence, Virtual Reality, Robotics, and Blockchain.