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Oct. 12, 2021, 6:41 a.m. EDT

Enfusion's IPO terms could value the software company at nearly $2 billion

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By Tomi Kilgore

Enfusion Inc. /zigman2/quotes/230006699/composite ENFN -1.24% has set terms of its initial public offering, in which the profitable Chicago-based investment management software company could be valued at up to $1.9 billion. The company is looking to raise up to $260.49 million, as it is offering 15.32 million shares in the IPO, which is expected to price between $15 and $17 a share. Selling shareholders are also offering 3.43 million shares to raise up to $58.26 million. With 64.07 million Class A shares and 48.99 million Class B shares expected to be outstanding after the IPO, the expected IPO pricing could value Enfusion as up to $1.92 billion. The stock is expected to list on the NYSE under the ticker symbol "ENFN." Morgan Stanley and Goldman Sachs are the lead underwriters. The company reported net income of $8.4 million on revenue of $50.8 million during the six months ended June 30, after net income of $10.7 million on revenue of $37.1 million in the same period a year ago. The company is looking to go public at a time that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO +3.81% has slipped 1.8% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX +2.43% has eased 0.5%.

/zigman2/quotes/230006699/composite
US : U.S.: NYSE
$ 11.96
-0.15 -1.24%
Volume: 524,741
Jan. 28, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.37 billion
Rev. per Employee
N/A
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/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 43.09
+1.58 +3.81%
Volume: 140,311
Jan. 28, 2022 4:10p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,431.85
+105.34 +2.43%
Volume: 2.91B
Jan. 28, 2022 4:54p
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