Elevation Capital’s Executes Strategic Share Sale of Tracxn, Raking in INR 15 Crores
In a strategic move, venture capital firm Elevation Capital has successfully divested a portion of its holdings in the market intelligence platform, Tracxn. The sale, conducted through two block deals, saw Elevation Capital offload over 15.66 lakh shares, resulting in a substantial transaction worth INR 15.09 Crores.
The block deals transpired at an average price of INR 96.35 per share, reflecting the investor’s astute decision-making. The initial tranche involved the sale of 7.66 lakh shares at INR 95.93 each, followed by a subsequent transaction of 8 lakh shares at INR 96.78 per share.
This strategic move by Elevation Capital is indicative of its discerning approach to market dynamics and financial trends. The decision to divest a portion of its Tracxn stake aligns with an apparent positive trajectory in both market sentiments and the financial well-being of the company.
Notably, Elevation Capital’s sale of Tracxn shares is not an isolated event, as the startup witnessed additional block deals involving prominent entities such as Crony Vyapar, Graviton Research Capital, and QE Capital. These transactions underscore the dynamic nature of the market and the active participation of key players in buying and selling startup shares.
The strategic share sale by Elevation Capital is a testament to the evolving landscape of venture capital investments and underscores the importance of timely decision-making to capitalize on favorable market conditions.