Tracxn is an online data intelligence platform that expanded its Employee Stock Option Plan by offering its employees more than 1,82,892 equity shares. These newly allocated shares increased the paid-up share capital of the firm to worth around Rs 10.47 crore.
The company provides information about the company’s private market investors and helps the users track the company across various categories like sectors, geographies, and other networks.
The company mentioned in a stock exchange filing that the nomination and Remuneration committee of the board allowed the allocation of 18,28,92 equity shares at an issue price of Rs 1 per share under Tracxn’s employee stock option scheme. The allocated shares will be exercised upon vested options under the Employee Stock Option Scheme 2016.
The ESOPs are provided to employees, and they can be encashed after a specific duration at a pre-determined value. The expansion of employee stock option plans helps the firm to hire the employee stock option plan to find new talent, gain new employees, and enhance productivity. The company’s share decreased by 0.71 percent at Rs 93.54 per share on the BSE.
Inc42 mentioned that Tracxn previously allotted over 99,707 equity shares in August under its employee stock option plan scheme. The development came when several startups across different sectors expanded their employee stock option plan pool size and allocated employee stock option plans for their eligible employees. This year, many companies have increased their ESOP pool size. Nykka allocated additional equity shares to its ESOP after mass suspension to re-create its employee brand. The fintech startup Paytm also expanded its ESOP pool size by allocating 1,10,357 new equity shares under its ESOP 2019 scheme.
The data intelligence platform reported a 3.6% increase in operational revenue to Rs 20.53 crore in the first quarter of FY25. The profit after tax increased by 84.5 percent to Rs 1.27 crore in the same duration. Tracxn had a market capitalization of Rs 978.14 crore after the last loss. The company has been working on scaling its services and improving its platform.
The board issued a resolution to grant the newly allocated stock options to those under the Tracxn employee stock option scheme. Many startups announced their ESOP pool expansion programs to offer liquidity to employees including PB Fintech, Honasa Consumer Limited, and Purplle.
Conclusion:
The startup data and market intelligence platform Tracxn announced its plan to expand its employee stock option Plan by allocating 1.8 lakh equity shares to its employees. These newly allocated shares increased the worth of paid-up share capital to around 10.47 crore. The ESOPs will help Tracxn improve its company image while gaining new employees and enhancing its productivity.
The employee stock option plan shares provided to employees with the company stock can be encashed after a specific duration at a predetermined value. This startup offers an online platform to provide detailed information about the company’s investors and their investments. The company reported revenue from options to be Rs 20.53 crore in the first quarter of FY25.
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