Tracxn Technologies, a data platform for startups, has filed draft papers with the Securities and Exchange Board of India (SEBI) to seek funds through an initial public offering (IPO). According to the draft red herring prospectus (DRHP), the initial share sale would be an offer for sale (OFS) of 38,672,208 equity shares by promoter and investor selling stockholders.
The OFS will see promoters Neha Singh and Abhishek Goyal sell up to 76.62 lakh shares each, Flipkart founders Binny Bansal and Sachin Bansal sell up to 12.63 lakh shares each, Elevation Capital sell up to 1.09 crore shares, Accel India IV Mauritius sell up to 40.2 lakh shares, and SCI Investments V sell up to 21.81 lakh shares, among others.
Bengaluru-based Tracxn uses a SaaS approach and is one of the top private business data market information producers. It’s a comprehensive B2B information platform that discovers, follows, and analyses private market businesses and startups for deal sourcing and due diligence, with the most worldwide coverage in new technology areas, including artificial intelligence, virtual reality, robotics, and blockchain.
Tracxn was founded in 2015 by first-generation entrepreneurs Neha Singh and Abhishek Goyal, who previously worked as venture capitalists at Sequoia Capital and Accel Partners, respectively.
The business presently analyses over 1.4 million private companies. It has 855 subscription clients in 50 countries, including private market investors such as venture capital and private equity funds and big corporations.
The issue’s only book-running lead manager is IIFL Securities Ltd.
Source: SaaS Industry