On Wednesday the leading global market intelligence platform’s share dipped after a foreign investor sold nearly 7.57 lakh equity shares of the company.
With a market cap of Rs. 1,145 crores, Tracxn Technologies opened today at Rs. 110.55 versus Rs. 114.5 on the previous day. The share price has moved down by 1.85 per cent as of now from its previous close of Rs. 110.95.
As per the NSE data, Foreign investor Seabright II sold nearly 7.57 lakh equity shares on January 9th, which is around 0.74 per cent of the equity stake, in Tracxn at an average price of Rs. 111.1 per share.
Before this, Seabright II had sold 5.8 lakh shares in Tracxn Technologies on January 4th, at an average price of Rs. 114.4 apiece, and the total value of the transaction was Rs. 6.63 crores.
Seabright has so far sold 33.36 lakh equity shares, or a 3.26 per cent stake, since Q4CY23 in the company, against its shareholding of 4.16 per cent in Tracxn as of Q3CY23.
Tracxn Technologies Ltd., released its annual exclusive report last month, where it witnessed a significant decline in funding by 72 per cent in 2023, compared to $25 billion in the previous year.
Whereas, Q4 recorded the lowest funding of around $957 million to date, marking it the lowest-funded quarter after Q3 of 2016.
As of September 2023, ace investor Mr. Mukul Agrawal holds 20 lakh equity shares in Tracxn Technologies, which is equivalent to a 1.96 per cent stake. Tracxn is held by 3.93 per cent of FIIs and 17.05 per cent of DIIs, aggregating to 20.9 per cent of institutional holding.
The company’s revenues from operations grew from Rs. 19.82 crores in Q2 of 2023 to Rs. 21.49 crores in Q3, accompanied by profits of Rs 69 lakhs in the June 2023 quarter to Rs. 2.17 crores in the September 2023 quarter.
Tracxn has spent less than 1 per cent of their operating revenues towards interest expenses so far and 85.76 per cent towards employee costs in FY23. It has had no debt for the last five years and has sufficient cash reserves to pay off its contingent liabilities.
Founded in 2012, Tracxn is a data intelligence platform for private market research that provides data and software for the global private markets.
Written by Shivani Singh
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