Freshworks becomes first Indian software company to be listed in US market
The fortunes of an Indian IT company changed overnight and its employees became millionaires in an instant. An IT company named Freshworks is listed on the US Nasdaq Stock Exchange. With this it has become the first Indian Software and a Service (SaaS) company to be listed in the US market.
For information, let us tell you that Freshworks launched the IPO before the listing. The investors who bet in this IPO have made huge profits from their listing on the stock exchange. More than 500 employees of companies in India are now millionaires due to the impressive launch of Freshworks and almost 70 percent of them are below 30 years of age. On Wednesday, the shares of this tech firm closed at Rs 47.55 in New York trading. With this, its market capitalization becomes 13 billion.
Let us tell you that this Freshworks was established in India in 2010 by Girish Mathrubhumi and Shaan Krishnasamy in Chennai. The company has followed the Silicon Valley trend. However, the company has 4,300 freshworks employees globally with a substantial tenure in Chennai and 76 per cent of the employees hold shares in the company.
Freshworks aims to raise ₹91,912 million through an IPO in the United States. In a listing sent to the US Securities and Exchange Commission (SEBI), Freshworks Inc. said it plans to launch common stock in the range of ₹2.85 million and an additional ₹32 per share.