Freshworks Inc on Monday raised its target price range for an IPO in the United States, which could bring the valuation of the enterprise and customer engagement software company to nearly $ 9.6 billion.
The San Mateo, Calif., Based company plans to raise $ 969 million at the top of its new price range of $ 32 to $ 34 per share, down from $ 28 to $ 32 per share previously.
Reuters reported in April that Freshworks, which competes with Salesforce.com Inc, could be valued at around $ 10 billion when it debuts on the stock market.
Freshworks’ technology is used by more than 50,000 companies in 120 countries, including leading names such as Delivery Hero SE, Vice Media and Swedish payments company Klarna.
Morgan Stanley, JP Morgan and Bofa Securities are the main subscribers of the Freshworks offering.
Freshworks, which was launched from the southern Indian city of Chennai, will be listed on the Nasdaq under the symbol “FRSH”, according to a regulatory filing.