 "IPO, shares, company, firms, market")
Private Market Intelligence Platform Tracxn Technologies has filed draft papers with markets regulator Sebi to raise funds through an initial public offering (IPO).
The initial share sale will be an offer for sale (OFS) of 38,672,208 equity shares by promoter and investor selling shareholders, according to the draft red herring prospectus (DRHP).
The OFS 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-- up to 1.09 crore shares by Elevation Capital, up to 40.2 lakh shares by Accel India IV Mauritius, and 21.81 lakh shares by SCI Investments V among others.
The Bengaluru headquartered company operates on a software as a service-based (SaaS) model and is among the leading market intelligence providers for private company data.
It is a comprehensive B2B information platform that identifies, tracks and analyses private market companies and startups on deal sourcing, deal diligence and has the largest global coverage in emerging technology sectors such as artificial intelligence, virtual reality, robotics, and blockchain.
Tracxn was launched in 2015 by Neha Singh and Abhishek Goyal, first-generation entrepreneurs, who both have had their stints as venture capitalists at Sequoia and Accel Partners respectively.
The company now tracks over 1.4 million private companies and works with 855 subscription customers across 50 countries and its customers include private market investors-- venture capital, private equity funds, and large corporates.
IIFL Securities Ltd is the sole book-running lead manager to the issue.
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