Tracxn Technologies, a market intelligence platform focused on tracking startups and private companies, has announced the expansion of its Employee Stock Option Plan (ESOP) 2016 by allotting 4,47,036 equity shares to eligible employees.
This move follows the approval from the company’s Nomination and Remuneration Committee, with the shares allotted at a nominal exercise price of INR 1 per share.
With this latest allocation, Tracxn’s paid-up share capital has risen to 10.54 crore shares, up from 10.49 crore shares.
The newly allotted shares can be exercised by the recipients within five years from their respective vesting dates.
Founded in 2013 by Abhishek Goyal and Neha Singh, Tracxn went public in October 2022, listing on the Bombay Stock Exchange (BSE) at INR 83 per share.
The company’s market intelligence platform primarily serves venture capital firms, private equity companies, corporate clients, government agencies, and academic institutions globally.
India has emerged as its largest market, contributing 34% of its total revenue, according to the company’s recent earnings report.
Despite its growing market presence, Tracxn reported a net loss of INR 4.66 crore for Q2 FY25, a decline from the net profit of INR 2.17 crore reported in the same quarter last year.
Revenue from operations remained relatively flat, totaling INR 21.39 crore, compared to INR 21.49 crore in Q2 FY24.
Employee benefit expenses, however, increased to INR 18.20 crore during the quarter, becoming the company’s largest expense item.
This new allotment marks Tracxn’s third ESOP issuance in recent months, following similar allotments of 2.42 lakh shares in October and 1.82 lakh shares in September 2024.
Shares of Tracxn were trading at INR 81.68 on Friday, down 2.58% from the previous close. The company’s market capitalization stands at INR 857.60 crore.
