The IPO, featuring a price band of Rs. 100-106 per equity share and a face value of Rs. 10 per share, comprises a fresh issue of 28.29 lakh Equity Shares through the book-building route
TAC Infosec Limited, a global leader in risk and vulnerability management, commenced its Initial Public Offering (IPO) today, March 27, 2024, aiming to raise approximately Rs. 29.9 crore from the offering. The IPO, which will run until April 2, 2024, marks a significant milestone for the cybersecurity firm.
TAC Security successfully completed its Anchor book subscription, garnering substantial interest from prominent investors. Noteworthy participants included NAV Capital VCC – NAV Capital Emerging Star Fund, Astorne Capital VCC, Beacon Stone Capital VCC – Beacon Stone I, Zinnia Global Fund PCC – Cell Dewcap Fund, and LC Radiance Fund VCC. The company secured Rs. 8.55 crore from the sale of 8.06 lakh equity shares at Rs. 106 per share.
Marquee investors displayed confidence in TAC Security’s prospects, with significant contributions from NAV Capital VCC – NAV Capital Emerging Star Fund, Astorne Capital VCC, and Beacon Stone Capital VCC – Beacon Stone I, each subscribing 23.51% of the anchor book. Zinnia Global Fund PCC – Cell Dewcap Fund and LC Radiance Fund VCC also participated, contributing 11.76% each to the anchor book.
TAC Security’s IPO focuses on human resources and product development to foster organic growth in India. Additionally, the company intends to invest in TAC Security INC. (Delaware, USA) to recruit skilled personnel, further enhancing its global footprint.
The IPO, featuring a price band of Rs. 100-106 per equity share and a face value of Rs. 10 per share, comprises a fresh issue of 28.29 lakh Equity Shares through the book-building route. Beeline Capital Advisors Private Limited serves as the sole Book Running Lead Manager, with SpreadX Securities Private Limited acting as the market maker to the issue.
Furthermore, the company’s allocation strategy includes 1.41 lakh equity shares for Market Maker, 4.03 lakh equity shares for Non-Institutional Investors (NIIs), 13.44 lakh equity shares for Qualified Institutional Buyers (QIBs), and 9.4 lakh equity shares for Retail Investors (RIIs). The lot size is set at 1,200 shares.
TAC Security, founded by millennial entrepreneur Trishneet Arora, offers risk-based vulnerability management solutions, cybersecurity quantification, and penetration testing through the Software as a Service (SaaS) model. Trishneet Arora’s leadership has propelled the company’s growth trajectory, earning him accolades such as GQ’s Top 50 Most Influential Young Indians in 2017 and Fortune India’s “40 Under 40” list twice in 2018 and 2021.
With the IPO in motion, TAC Security aims to leverage its expertise in cybersecurity to navigate the evolving landscape, offering innovative solutions to organizations across industries.
