Tracxn Allots 4.47 Lakh Equity Shares Under ESOP Plan

Market intelligence platform TracxnTechnologies has expanded its employee stock option plan by allotting 4,47,036 equity shares to eligible employees under its Tracxn Employee Stock Option Plan 2016.

In an exchange filing today (November 8), the company said its nomination and remuneration Committee approved the allotment at an exercise price of INR 1 per share. 

With this fresh allotment, Tracxn’s paid-up share capital has increased to 10.54 Cr shares from 10.49 Cr shares.

The shares allotted under the ESOP plan can be exercised within five years from their vesting date.

Founded in 2013 by Abhishek Goyal and Neha Singh, Tracxn is a SaaS-based market intelligence platform that tracks startups and private companies globally. The company went public in October 2022, listing at INR 83 on the BSE.

The platform serves various clients including venture capital firms, private equity companies, corporate customers, government agencies and academic institutions. In its recent earnings, the company reported that India has become its largest market, contributing 34% to its total revenue.

The development comes on the same day when Tracxn reported slipping into losses for Q2 FY25. The company posted a net loss of INR 4.65 Cr for the quarter ended September 2024, compared to a net profit of INR 2.16 Cr in the corresponding quarter last year.

This is the company’s third ESOP allocation in recent months. In October, it allotted 2.42 Lakh equity shares, following a September allotment of 1.82 Lakh shares under the same ESOP 2016 plan.

Shares of Tracxn were trading at INR 81.68 on the BSE on Thursday, down 2.58% from the previous close. The company’s market capitalisation stood at INR 857.60 Cr.

The company’s revenue from operations remained nearly flat at INR 21.39 Cr in Q2 FY25 compared to INR 21.49 Cr in Q2 FY24, its employee benefit expenses stood at INR 18.20 Cr during the quarter, making it the largest expense component.