Jobaaj Stories
Tracxn Technologies IPO is going to hit Dalal street on 10th October 2022. The public issue will be open for three days ending on 12th October 2022.
The issue will be a 100% Offer for Sale (OFS) worth Rs. 309.38 crores. The company has fixed the price band of the public offer at ₹75 to ₹80 per equity share, offering 185 shares of the company for a lot size.
Binny Bansal and Sachin Bansal, the founders of Flipkart will be offloading up to 12.63 lakh shares each.
Titan Q2 results are out, see if its a good stock pick.
"Tracxn has emerged as a major player in the private market data service provider, providing enterprise-grade data curation. The company’s operations being based in India provide an advantage in cost-effectiveness as compared to its global competitors. The offer is a complete OFS and hence the proceeds won’t be available to the company. The company was loss-making till FY 22 and has posted positive results for 3MFY23." Abhay Doshi, Founder of UnlistedArena.com said.
Tracxn Technologies is a software as a service (SaaS) platform that has scanned over 66 crore web domains to profile 18.4 lakh companies. Customers can source and track companies across sectors and geographies due to the company's large global database network.
Speaking of the company’s financials, revenue has grown at a CAGR of 30.4%, but the EBITDA and PAT of the company have been negative for the past 2 years. The company's negative bottom line is still a matter of concern for investors.
As on June 30, 2022, the Company has a base of 1,139 Customer Accounts present in over 58 countries with some belonging to ‘The Fortune 500’.
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