Truecaller IPO soon, the company has fixed the price range of the public offer, know

Truecaller, a Swedish mobile phone directory and caller identification service company, said on Wednesday that the price range for its listing of Class B shares would be between 44 Swedish crowns and 56 crowns.

Market valuation will be between $1.9 billion and $2.4 billion

The company will have a market valuation of between $1.9 billion and $2.4 billion, depending on the pricing range after the Nasdaq Stockholm listing is completed. The company will start trading under the trading symbol “TRUE” from October 8. Truecaller counts Sequoia, Atomico, OpenOcean and Kleiner Perkins among its investors, and more than 10% of the company is owned by its employees.

Plans to achieve $116 million

The Swedish company, which runs caller identification service, plans to raise $116 million from the IPO. India is the biggest market for this company. This app of the company has about 205 million monthly active users.

WhatsApp, Facebook third largest platform after

The company claims in India that it is the third largest communication platform in this country after WhatsApp, Facebook. This company was started in the year 2009, currently it is spread in 175 countries. Where it has more than 27 crore users. Major investors in the company include Sequoia Capital, Atomico, Kleiner Perkins and Open Ocean. Sequoia held 19.9 per cent stake in the company at the end of last year.

On the other hand, if we talk about the company’s office, then this company has offices in Sweden, India and Kenya. With the increase in the use of smartphones day by day, the company’s app is also growing rapidly. Its service helps to avoid fraudulent spam numbers.

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