Based on the stock’s closing price on Friday, the total value of these stock options stands at INR 2.09 Cr
With the fresh allotment, the total paid-up equity share of the company has increased to over 10.49 Cr from 10.47 Cr
Notably, all stock options can be exercised within five years from the date of vesting of the options
Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
Market intelligence platform Tracxn has expanded its employee stock option plan by allocating over 2.42 Lakh stock options to eligible employees.
In an exchange filing, Tracxn said, “We wish to inform you that the nomination and remuneration committee of the company vide circular resolution dated October 05, 2024, has approved the allotment of 2,42,855 equity shares under TRACXN ESOP 2016 to the eligible grantees.”
Based on the stock’s closing price on Friday, the total value of these stock options stands at INR 2.09 Cr.
With the fresh allotment, the total paid-up equity share of the company has increased to over 10.49 Cr from 10.47 Cr.
Notably, all these newly allotted stock options can be exercised within five years from the date of vesting of the options.
The latest ESOP expansion follows its September allotment of 1.8 Lakh equity shares under its Employee Stock Option Plan 2016 (ESOP 2016) to eligible employees. Prior to that, the company allotted 99,707 equity shares under its ESOP plan in early August.
Tracxn began expanding its Employee Stock Option Plan (ESOP) pool in August 2023, when it allocated 99,707 equity shares to eligible employees under its ESOP 2016 plan.
It made its debut on the bourses in October 2022 at the listing price of INR 83 on the BSE, a premium from the issue price of INR 80.
Founded in 2013 by Abhishek Goyal and Neha Singh, both of whom have backgrounds in venture capital, Tracxn is a SaaS platform based in Bengaluru that specializes in providing market intelligence and data on private companies.
The development comes against the backdrop of a Bengaluru-based company reporting an 84.6% yearly jump in the June quarter (Q1) of the financial year 2024-25 (FY25). It posted a profit after tax (PAT) of INR 1.27 Cr in Q1 FY25, an 84.6% jump from INR 68.93 Lakh in the year-ago period.
Its revenue from operations stood at INR 20.53 Cr in Q1 FY25, up 3.6% from INR 19.82 Cr in the corresponding quarter previous year.
Shares of Tracxn were trading 2.96% low at INR 83.65 at 12:40 PM on the BSE.
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.