Tracxn Technologies gets listed

20 Oct 2022 , 11:24 AM

On October 20, Tracxn Technologies shares made their market debut as the data provider listed at a 5% premium following a lackluster initial public offering.

In comparison to the issue price of Rs80, the stock opened at Rs83 on the BSE and at Rs84.50 on the NSE.

Just 2.01 times bids were received from investors in the public offering of Traxcn, one of the top providers of private market data services, between October 10 and 12, with the majority of purchases coming from qualified institutional purchasers who had a quota of 75%. 
As the transaction was exclusively an offer for sale, the Rs 309 crore raised through the IPO will go to the selling shareholders (promoters and investors). 

The offer’s price range was between Rs75 and Rs80 per share.

Tracxn launched its platform in FY15 and has since emerged as a prominent participant in the field of private market data service providers. It is listed among the top five players internationally by the number of companies profiled across industries and geographies. It is one of the top global market intelligence suppliers for private company data.

In the fiscal quarter that concluded in June FY23, Tracxn, a company with an asset-light business model and a software-as-a-service platform, achieved breakeven and turned a profit.

It reported revenue and a profit of Rs. 0.8 crore. In contrast to a loss of Rs0.7 crore and revenue of Rs14.97 crore during the same period last fiscal year, it earned a profit of Rs. 0.8 crore and operating revenue of Rs. 18.4 crore for the June quarter.

It reported a loss of Rs4.8 crore in FY22, compared to losses of Rs5.3 crore in FY21 and Rs5.4 crore in FY20, despite revenue increasing at a compound annual rate of 30.4% over these years, with international activities accounting for 70% of its income. 

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