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Truecaller Made Trading Debut on Nasdaq Stockholm

Truecaller made its trading debut at $6.82 per share on Nasdaq Stockholm, giving the company a market cap of about $2.5 billion. Truecaller valued its initial public offering (IPO) at $5.91, matching the market cap of $2.2 billion. The company was trying to raise around $428.2 million from the offering. The principal capital raised is $114 million. The firm set a rate of $5 to $7 per share for its listing of shares on September 29. It had first declared plans to list on Nasdaq Stockholm on September 15.

Truecaller claims to have 205.5 million monthly active users in India as of the 2nd quarter of 2021. It is the third-largest communication platform in the country. The company also said that 76.8 per cent of its 215.5 million daily active users are from India. Overall, Truecaller have 278.1 million monthly active users in 175 countries. The Swedish firm has raised revenues of $32.95 million in India in the first six months of 2021, recording a 170.8 per cent growth from $12.17 million in 2020. The change was driven by enhanced ad load, an increase in new users, and optimisation of programmatic advertisements.

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