FreshworksThe $ 10 billion IPO will go down as a red letter day in Indian SaaS history. After the extravagant NASDAQ listing on September 22, its stock (traded under the ticker symbol “FRSH”) quickly gained popularity with Indian retail investors.
At the close of trading on Friday, September 24, FRSH was already the most purchased share by Indians, according to Funding acquiredLive inventory tracking. The platform registered with the United States Securities and Exchange Commission (SEC) allows Indians to invest in foreign stocks, primarily NASDAQ and NYSE stocks.
In shared data exclusively with Your story, Vested Finance revealed that FRSH traded more than popular stocks such as Microsoft (MSFT), Shopify (SHOP), Salesforce (CRM), Amazon (AMZN), Apple (AAPL), Zoom (ZM), Adobe (ADBE) , Facebook (FB) and Tesla (TSLA). More than Rs 2 crore has been invested in FRSH since its registration.
FRSH has managed to keep its top position on acquired even if its the stock price fell 1.66% to $ 46.75 (from $ 47.54) at market close on Friday.
The data source: Funding acquired
Viram Shah, co-founder and CEO, Invested Finance, Recount Your story,
“Investigations were made by Indian investors even before the listing. But unfortunately, they are not allowed to invest directly in IPOs in the US markets. Since Freshworks was listed, the observed trend has been phenomenal. Over the past three days, this has been the # 1 action on our platform. This shows that investors are riding the global wave and investing in big IPO stocks like Freshworks. “
“We witnessed a 50% increase in daily new account openings on our platform in recent days due to the excitement of Freshworks, ”added Viram.
At the time of registration, the Giant SaaS founded by Girish Mathrubootham made 10 percent of the company’s shares available for retail purchase. The IPO event enabled Freshworks to raise $ 1.03 billion public procurement.
“It gives me a great sense of accomplishment today because I feel like this IPO has given me the opportunity as CEO to fulfill my responsibility to all Freshworks employees to this day. , including those who are former employees today, and everyone who believed in us over the past 10 years and contributed to Freshworks, ”Girish told the media.
Given the positive sentiment in the market, with FRSH up 30 percent on opening day, Freshworks’ current valuation of nearly $ 15 billion, according to Forbes estimates. This not only makes it the Most Popular SaaS Unicorn from India, but also one of the top three Indian startups in terms of valuation.
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