Private Equity

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Caller identification firm Truecaller lists at Stockholm

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Sequoia Capital India-based, Sweden-headquartered caller identification software firm Truecaller made its trading debut at USD 6.82 (60 Swedish Krona) per share on Nasdaq Stockholm, up 15.4 % from the company's listing price, giving the company a market cap of around $2.5 billion. Truecaller priced its public offering at USD 5.91, corresponding to a market cap of USD 2.2 billion. The firm was looking to mop up around USD 428.2 million (through the offering, assuming the over-allotment option is exercised in full. Of this, the primary capital being raised is USD 114 million. Through this IPO, the company is offering 53.4 million Class B shares (53,414,532 Class B shares), of which 19.23 million shares (19,230,770 shares) are newly issued and 34.18 million shares (34,183,762 Class B shares) are sold by existing shareholders including the company's founders and investors Sequoia Capital India, Atomico, and Kleiner Perkins. Sequoia Capital India, Atomico, Kleiner Perkins, OpenOcean and Zenith Venture Capital have also committed to sell 9.46 million shares (9,456,520 Class B shares) in order to cover any over-allotments in relation to the offering. If the over-allotment option is exercised in full, the offering will comprise a total of 72.5 million shares (72,500,000 Class B shares). Truecaller claims to have 205.5 million monthly active users in India as of second quarter of 2021.

From the Venture Intelligence PE-VC Deal Database: Truecaller had first attracted funding from Sequoia Capital India in 2014.