Enfusion, Inc (ENFN) IPO Opens 18% Higher, Valuing Co. at $2.3 Billion

Today's IPO for Enfusion, Inc (NYSE: ENFN) opened for trading at $20 after pricing 15,322,660 shares of its Class A common stock offered by Enfusion and 3,427,340 shares of Class A common stock to be sold by certain of Enfusion’s existing stockholders at a price to the public of $17.00 per share, thehigh end of the expected range.

Enfusion valuation based on the opening price is approximately $2.3 billion.

Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC are acting as lead book-running managers for the proposed offering, with BofA Securities, Credit Suisse Securities (USA) LLC, Piper Sandler & Co., Stifel, Nicolaus & Company, Incorporated and William Blair & Company, L.L.C. acting as additional bookrunners, and Loop Capital Markets acting as co-manager.

Enfusion, Inc. is a global, high-growth SaaS provider, designed to eliminate technology and information barriers, empowering investment managers to confidently make and execute better-informed investment decisions in real-time.

Enfusion generated sales of $50.8 million for the first six months of the year. Profit came in at $8.4 million. Grown Annual Recurring Revenue from $33.1 million for the month ended December 31, 2017 to $93.4 million for the month ended December 31, 2020 (representing a compound annual growth rate of 41.4%).

Enfusion estimates its total addressable market in excess of $19 billion.

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