TAC Infosec Limited ("TAC Security" or "The Company"), a global leader in risk and vulnerability management, announced that its initial public offering (IPO) will open on Wednesday, March 27, 2024. The anchor portion will be opened on Tuesday, March 26, 2024, and the issue will conclude on Tuesday, April 02, 2024. The company intends to raise approximately Rs. 29.9 crore (at upper band) from the offering and aims to be listed with NSE Emerge. The price band for the issue has been fixed at Rs. 100 - Rs. 106 per share, and the lot size will be 1,200 equity shares.
Beeline Capital Advisors Private Limited is the Book Running Lead Manager, and Skyline Financial Services Private Limited is the Registrar for the issue.
The IPO will comprise a fresh issue of 28,29,600 Equity Shares with a face value of Rs. 10/- through the book-building route. As many as 1.41 lakh equity shares have been reserved for the Market Maker, 4.03 lakh equity shares for NIIs, 13.44 lakh equity shares allocated for QIBs (including Anchor Reservation), and Retail (RII) portion accounts for 9.4 lakh equity shares.
The company, backed by stock market maven Vijay Kedia, offers risk-based vulnerability management and assessment solutions, cybersecurity quantification and Penetration testing to organisations of any scale, size, and business through the "SaaS model".
According to the RHP document, the company proposes to use the net proceeds from the IPO to invest in human resources and product development to support organic growth in India and investment in TAC Security INC. (Delaware, USA) to hire skilled personnel for organic growth outside India. The remaining capital will be used for general corporate purposes.
TAC Security was founded by the millennial entrepreneur Trishneet Arora. With extensive experience in cybersecurity and vulnerability management, the founder has been steering the company's business growth strategy. Trishneet Arora, 30, is accredited with numerous recognitions and awards, including GQ's Top 50 Most Influential Young Indians in 2017, Entrepreneur of the Year in 2020 and Leaders of Tomorrow in 2018 and 2022 by St. Gallen Symposium, Switzerland. He was also featured on the coveted Forbes "30 Under 30" Asia 2018 list and Fortune India's "40 Under 40" list twice in 2018 and 2021.
IPO details - TAC Infosec Limited
No. of shares (FV Rs. 10 each) - 28,29,600 Equity Shares
Price band - Rs. 100 - 106
Issue size (at upper band) - Rs. 29.9 crore
Issue type - Fresh Issue
Issue opens on - Wednesday, March 27, 2024
Issue closes on - Tuesday, April 02, 2024
Anchor opening date - Tuesday, March 26, 2024
Reservation for Market Maker - 1,41,600 Equity Shares
Reservation for NIIs - 4,03,200 Equity Shares
Reservation for QIBs (including Anchor Reservation) - 13,44,000 Equity Shares
Reservation for Retail - 9,40,800 Equity Shares
Lot Size - 1,200 Equity Shares |
