- Date : 11/10/2022
- Read: 4 mins
10 things to know before investing in Tracxn Technologies Limited IPO
You must know a few things before subscribing to the Tracxn Technologies IPO. Let's dive in!
Tracxn Technologies IPO Dates
The opening date for a subscription is October 10. The last day for a subscription is October 12.
Price Band
Its face value is Rs. 1 each, and the price band is Rs. 75- Rs. 80/share.
Also Read: Upcoming IPOs in October
Offer Details
The company wants to raise Rs. 310cr through the IPO by selling promoters' and shareholders' 38,672,208 equity shares. Promoters currently own a 50.93% stake in the company, which will come down to 35.65% (by 15.28%) after the Issue. Institutional buyers will have 75% of the net Offer reserved for them and 15% for non-institutional investors. The retail investors can subscribe to the remaining ten percent.
Issue Objectives
The Issue's objectives are to get listed on the stock market and benefit from the sale of shares by its shareholders. Its shareholders are Manoj Kumar Gandhi, Apoletto Asia Ltd, Kolluri Living Trust, Trustees, Rathnagirish Mathrubootham, Milliways Fund LLC, NRJN Family Trust, Deepak Singh, Sahil Barua, SCI Investments V, Neha Singh, Elevation Capital, Abhishek Goyal, and others. The promoters will get the full benefits from the sale, and the company will not get any money.
Lot Sizes
Investors can bid for at least 185 shares and in its multiples. The minimum amount is Rs. 14,000, and a retail investor can bid for 13 lots. The maximum amount is Rs. 1,92,400 or 2,405 shares.
Also Read: How is IPO price decided?
Company Industry and Profile
The company started in 2012 and is a leading provider of market intelligence data and is among the top 5 companies in the world in its sector. It has among the biggest private company coverage in the segment that contains emerging tech like EVs, blockchain, virtual reality, IoT, and artificial intelligence. Its business model is asset-light, and it works as a SaaS company. It has a subscription-based platform that offers people private company data to identify M&A targets, track emerging themes, analysis, deal diligence, and deal sourcing. It has customers in above 58 countries, 1,139 Customer Accounts, and 3,271 people using its platform. Many Fortune 500 companies are also its customers. CA (customer accounts) has seen a CAGR growth of 30.42%. TTL raised around 20cr in 2019 after it issued 70.872 Series B2 CCPS at Rs 2954.62/share.
Financials
The turnover for TLL for the years 2020, 2021, and 2022 is Rs. 6.3cr, Rs. 55.7cr, and Rs. 65.2cr, respectively. It reported a loss of Rs. 54cr in 2020 FY, Rs. 5.4cr in 2021 FY, and Rs. 4.9cr in 2022 FY. During the first quarter of 2023, it reported YoY growth of 22.9%.
Business Strategy and Strength
The company is a leading provider of market intelligence data, and Flipkart co-founders have backed it. It has a growing, longstanding, and diverse customer base. It has an in-house developed technology platform that is very secure and scalable. It benefits it as it saves a lot of money from Indian operations. It also has experienced senior management, a Board of Directors, and promoters. It also has competent investors.
Anchor Book
Tracxn Technologies raised Rs. 139.22cr on October 7 through an anchor book. The move came ahead of its public Issue when the investors subscribed for its 1.74cr equity shares at Rs. 80/share. 15 investors took part, which included Motilal Oswal Fund, Tara Emerging Asia Liquid Fund, BNP Paribas Arbitrage, Reliance General Insurance Company, Abakkus Emerging Opportunities Fund, Kotak MF, Whiteoak Capital, Ashoka India Equity Investment Trust Plc, and others.
Allotment, Grey Market, and Listing Dates
The grey market does not see the company commanding premiums. Successful bidders will be allotted the shares on October 17, and the unsuccessful bidders will get a refund on October 18.
Here is everything you need to know before investing in TTL.
You must know a few things before subscribing to the Tracxn Technologies IPO. Let's dive in!
Tracxn Technologies IPO Dates
The opening date for a subscription is October 10. The last day for a subscription is October 12.
Price Band
Its face value is Rs. 1 each, and the price band is Rs. 75- Rs. 80/share.
Also Read: Upcoming IPOs in October
Offer Details
The company wants to raise Rs. 310cr through the IPO by selling promoters' and shareholders' 38,672,208 equity shares. Promoters currently own a 50.93% stake in the company, which will come down to 35.65% (by 15.28%) after the Issue. Institutional buyers will have 75% of the net Offer reserved for them and 15% for non-institutional investors. The retail investors can subscribe to the remaining ten percent.
Issue Objectives
The Issue's objectives are to get listed on the stock market and benefit from the sale of shares by its shareholders. Its shareholders are Manoj Kumar Gandhi, Apoletto Asia Ltd, Kolluri Living Trust, Trustees, Rathnagirish Mathrubootham, Milliways Fund LLC, NRJN Family Trust, Deepak Singh, Sahil Barua, SCI Investments V, Neha Singh, Elevation Capital, Abhishek Goyal, and others. The promoters will get the full benefits from the sale, and the company will not get any money.
Lot Sizes
Investors can bid for at least 185 shares and in its multiples. The minimum amount is Rs. 14,000, and a retail investor can bid for 13 lots. The maximum amount is Rs. 1,92,400 or 2,405 shares.
Also Read: How is IPO price decided?
Company Industry and Profile
The company started in 2012 and is a leading provider of market intelligence data and is among the top 5 companies in the world in its sector. It has among the biggest private company coverage in the segment that contains emerging tech like EVs, blockchain, virtual reality, IoT, and artificial intelligence. Its business model is asset-light, and it works as a SaaS company. It has a subscription-based platform that offers people private company data to identify M&A targets, track emerging themes, analysis, deal diligence, and deal sourcing. It has customers in above 58 countries, 1,139 Customer Accounts, and 3,271 people using its platform. Many Fortune 500 companies are also its customers. CA (customer accounts) has seen a CAGR growth of 30.42%. TTL raised around 20cr in 2019 after it issued 70.872 Series B2 CCPS at Rs 2954.62/share.
Financials
The turnover for TLL for the years 2020, 2021, and 2022 is Rs. 6.3cr, Rs. 55.7cr, and Rs. 65.2cr, respectively. It reported a loss of Rs. 54cr in 2020 FY, Rs. 5.4cr in 2021 FY, and Rs. 4.9cr in 2022 FY. During the first quarter of 2023, it reported YoY growth of 22.9%.
Business Strategy and Strength
The company is a leading provider of market intelligence data, and Flipkart co-founders have backed it. It has a growing, longstanding, and diverse customer base. It has an in-house developed technology platform that is very secure and scalable. It benefits it as it saves a lot of money from Indian operations. It also has experienced senior management, a Board of Directors, and promoters. It also has competent investors.
Anchor Book
Tracxn Technologies raised Rs. 139.22cr on October 7 through an anchor book. The move came ahead of its public Issue when the investors subscribed for its 1.74cr equity shares at Rs. 80/share. 15 investors took part, which included Motilal Oswal Fund, Tara Emerging Asia Liquid Fund, BNP Paribas Arbitrage, Reliance General Insurance Company, Abakkus Emerging Opportunities Fund, Kotak MF, Whiteoak Capital, Ashoka India Equity Investment Trust Plc, and others.
Allotment, Grey Market, and Listing Dates
The grey market does not see the company commanding premiums. Successful bidders will be allotted the shares on October 17, and the unsuccessful bidders will get a refund on October 18.
Here is everything you need to know before investing in TTL.
