Vijay Kedia-backed TAC Infosec IPO Opens: Key Details Investors Must Know

• ByStartupStory     |    March 27, 2024

TAC Infosec, backed by renowned investor Vijay Kedia, is set to launch its Initial Public Offering (IPO) on the NSE SME platform, with the subscription window opening on Wednesday, March 27, and closing on Tuesday, April 2. The company aims to raise approximately Rs 30 crore through this IPO. Here are the crucial highlights potential investors should be aware of before considering subscription:

About TAC Infosec: TAC Infosec, also known as Tas Security, specializes in providing risk-based vulnerability management and assessment solutions, cybersecurity quantification, and penetration testing services to organizations of all sizes through a Software as a Service (SaaS) model.

Industry Overview: The Information Technology (IT) and Business Process Management (BPM) sector have emerged as significant growth drivers for the Indian economy, contributing substantially to GDP and public welfare. As of FY22, the IT industry accounted for 7.4% of India’s GDP, with projections indicating a potential rise to 10% by 2025.

IPO Size: The IPO consists entirely of fresh equity, with 28.2 lakh shares on offer, aiming to raise Rs 30 crore for the company.

Price Band: TAC Infosec is offering its shares at a price band of Rs 100 to Rs 106 per share, with a lot size of 1,200 shares.

Financial Performance: As of September 2023, TAC Infosec reported revenues of Rs 5.02 crore and a net profit of Rs 1.94 crore.

Objects of the Offer: The proceeds from the IPO will primarily be utilized for acquiring TAC Security Inc., investment in human resources and product development, general corporate purposes, and covering public issue expenses.

Lead Managers and Registrar: Beeline Capital Advisors serves as the lead manager for the IPO, while Skyline Financial Services has been appointed as the registrar.

Issue Structure: The IPO allocation is divided, with 50% reserved for Qualified Institutional Buyers (QIBs), 35% for retail investors, and the remaining 15% for other investors.

Important Dates: The IPO subscription window opens on March 27 and closes on April 2. Allotments are expected to be finalized by April 3, with shares likely to be listed on April 5.

TAC Infosec GMP: In the unlisted market, TAC Infosec’s shares are trading with a high Grey Market Premium (GMP) of Rs 80.

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