Tracxn Technologies IPO opens tomorrow: 10 key things to know before you buy it – Moneycontrol
My Account
Follow us on:
Powered By
Learn, discover & invest in smallcases across different types to build your long term portfolio.
Invest Now
Explore from India`s leading investment managers and advisors curating their strategies as smallcases.
Invest Now
Powered By 
Diversify your portfolio by investing in Global brands.
Invest Now
Pre-configured baskets of stocks & ETFs that you can invest
in with a single click. Developed by hedge funds, global
asset management companies, experienced wealth
management firms and portfolio managers.
Invest Now
AMBAREESH BALIGA
Fundamental, Stock Ideas, Multibaggers & Insights
Subscribe
CK NARAYAN
Stock & Index F&O Trading Calls & Market Analysis
Subscribe
SUDARSHAN SUKHANI
Technical Call, Trading Calls & Insights
Subscribe
T GNANASEKAR
Commodity Trading Calls & Market Analysis
Subscribe
MECKLAI FINANCIALS
Currency Derivatives Trading Calls & Insights
Subscribe
SHUBHAM AGARWAL
Options Trading Advice and Market Analysis
Subscribe
MARKET SMITH INDIA
Model portfolios, Investment Ideas, Guru Screens and Much More
Subscribe
TraderSmith
Proprietary system driven Rule Based Trading calls
Subscribe
Curated markets data, exclusive trading recommendations, Independent equity analysis & actionable investment ideas
Subscribe
Curated markets data, exclusive trading recommendations, Independent equity analysis & actionable investment ideas
Explore
STOCK REPORTS BY THOMSON REUTERS
Details stock report and investment recommendation
Subscribe
POWER YOUR TRADE
Technical and Commodity Calls
Subscribe
INVESTMENT WATCH
Set price, volume and news alerts
Subscribe
STOCKAXIS EMERGING MARKET LEADERS
15-20 High Growth Stocks primed for price jumps
Subscribe
Tracxn Technologies Limited (TTL) is a leading market intelligence data provider and is backed by the co-founders of Flipkart. It will be launching its Initial Public Offer today.
Here are 10 key things to know before subscribing to the public issue:
1. IPO Dates
The offer will open for subscription on October 10 (Monday) and the last day to subscribe to the public offer is October 12 (Wednesday).
2. Price Band
The price band for the offer has been fixed at Rs 75 – 80 per equity share of face value Rs 1 each.
Tracxn Tech sets IPO price band at Rs 75-80 a share
3. Offer Details
The company intends to garner ~Rs 310 crore through an offer for sale of 38,672,208 equity shares by the shareholders and promoters.
Post the issue, the promoter shareholding will decline 15.28 percent and come down to 35.65 percent from the current 50.93 percent stake held by the them in the company.
Of the total offer size, 75 percent of the net offer will be reserved for qualified institutional buyers, 15 percent for non-institutional investors and the remaining 10 percent is for retail investors.
4. Objectives of the Issue
The objects of the Offer are to achieve the benefits of listing the equity shares on the stock exchanges and the sale of shares by the selling shareholders (being Neha Singh, Abhishek Goyal, Elevation Capital, Accel India IV (Mauritius) Limited, SCI Investments V, Prashant Chandra, Binny Bansal, Sachin Bansal, WGG International Limited, Sahil Barua, Deepak Singh, Trustees, NRJN Family Trust, Milliways Fund LLC, Rathnagirish Mathrubootham, Trustees, Kolluri Living Trust, Apoletto Asia Ltd and Manoj Kumar Gandhi) in the offer.
The company will not get any proceeds from this public offer and the proceeds will entirely go to the promoters.
5. Lot Sizes
Investors can bid for a minimum lot size of 185 shares and in multiples thereof. The minimum investment for a retail investor works out to Rs 14,800 at the upper end of the price band for 185 shares. A retail investor can apply for up to 13 lots or 2,405 shares for an amount of Rs 1,92,400.
6. Company Profile & Industry
The company was incorporated in 2012 and is among the leading global market intelligence providers for private company data and rank among the top five players globally in terms of number of companies profiled offering data of private market companies across sectors and geographies.
It has one of the largest coverage of private companies in emerging technology segment such as IoT, artificial intelligence, virtual reality, robotics, block chain and electric vehicles.
TTL has an asset light business model and operate a Software as a Service (“SaaS”)-based platform that scanned over 662 million web domains, and profiled over 1.84 million entities. It offers customers private company data for deal sourcing, identifying M&A targets, deal diligence, analysis and tracking emerging themes across industries and markets, among other uses, through subscription-based platform.
Its platform has 3,271 users across 1,139 Customer Accounts in over 58 countries, as of June 30, 2022. The customers include a number of Fortune 500 companies and/or their affiliates. Customer accounts have increased at a CAGR of 30.42 percent, from 642 Customer Accounts, as of March 31, 2020 to 1,092 Accounts, as of March 31, 2022, and 1,139 Customer Accounts as of June 30, 2022.
The company had last raised close to Rs 20 crore from KG Global Platform Fund in August 2019 by issuing 70,872 Series B2 CCPS at price of Rs 2954.62 per share.
The total addressable market for private market data was $ 1,322 million in 2021 and is expected to grow at a compounded annual growth rate (CAGR) of around 12 percent over 2021-25 to reach a size of $ 2,097 million by 2025. The growth of the market is expected to be mainly dependent on the growth of the number of private equity, venture capital & other investment firms, large corporates and other entities who will be willing to invest in private companies.
7. Financials
During the previous three financial years, TTL had recorded a turnover of Rs 6.3 crore in FY20 when its net loss stood at Rs 54.0 crore. For FY21, the company’s turnover improved to Rs 55.7 crore and its net loss dipped to Rs 5.4 crore. In FY22, TTL registered a turnover of Rs 65.2 crore while the net loss stood at Rs 4.9 crore. FY22.
During Q1FY23, the company reported a 22.9 percent YoY growth in the business, mainly supported by a 20.4 percent higher customer base. Lower employee cost, as percent of top-line led to an EBITDA profit of Rs. 0.2 crore, compared to a loss of Rs 0.6 crore in Q1FY22. Other income (net of exceptional items) stood at Rs 0.7 crore (compared to net other income loss of Rs 0.1 crore in Q1 FY22). As a result, reported profit stood at Rs 0.8 crore in Q1FY23, compared to a reported loss of Rs 0.2 crore in Q1FY22.
On trailing twelve month (TTM) basis, top-line stood at Rs 66.9 crore with reported earnings before interest, tax, depreciation and amortization (EBITDA) of Rs 1.1 crore and a PAT loss of Rs 3. 3crore.
For the last three fiscals, TTL has reported an average negative EPS of Rs – (1.67) and an average negative return on net worth (RoNW) of – (26.42%).
8. Strengths and business strategy
The company is a leading global provider of differentiated private market data & intelligence with diverse, longstanding and growing global customer base. Its secure technology platform is conceptualized & developed in-house and is easily scalable which results in significant cost advantages from India-based operations. The company also gains its strength from experienced promoters, Board of Directors and senior management team backed by marquee investors
9. Anchor Book
The company on October 7 has raised Rs 139.22 crore via anchor book ahead of public issue opening. The anchor investors have subscribed for 1.74 crore equity shares at a price of Rs 80 per share. Total 15 investors were participants in the company via anchor book included Nippon Life India, ICICI Prudential, India Acorn Fund, Ashoka India Equity Investment Trust Plc, Whiteoak Capital, Kotak MF, Abakkus Emerging Opportunities Fund, Reliance General Insurance Company, BNP Paribas Arbitrage, Tara Emerging Asia Liquid Fund, and Motilal Oswal Fund.
Out of the total allocation to anchor investors, 75.26 lakh equity shares were allocated to 4 domestic mutual funds through a total of 6 schemes.
10. Grey Market, Allotment & Listing Dates
The company’s shares are not commanding any premium in the grey market currently, according to IPO Watch and IPO Central, both of which track the grey market movements.
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited.
Copyright © e-Eighteen.com Ltd All rights resderved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited.