The IPO, featuring a price band of Rs. 100 to Rs. 106 per share, will offer 28,29,600 Equity Shares at a face value of Rs. 10 each
TAC Infosec Limited, a prominent name in the global arena of risk and vulnerability management, has announced its forthcoming initial public offering (IPO) slated to commence on Wednesday, March 27, 2024. The company disclosed that the anchor portion will be opened a day prior, on Tuesday, March 26, 2024, with the IPO concluding on Tuesday, April 02, 2024. TAC Security aims to raise approximately Rs. 29.9 crore at the upper band of the price range and is eyeing a listing on the NSE Emerge.
The IPO, featuring a price band of Rs. 100 to Rs. 106 per share, will offer 28,29,600 Equity Shares at a face value of Rs. 10 each. It is categorised as a fresh issue through the book-building route. The lot size for the IPO has been set at 1,200 Equity Shares. Noteworthy reservations have been made for different investor categories, including 1,41,600 Equity Shares for Market Makers, 4,03,200 Equity Shares for Non-Institutional Investors (NIIs), 13,44,000 Equity Shares for Qualified Institutional Buyers (QIBs), and 9,40,800 Equity Shares for Retail investors.
Beeline Capital Advisors Private Limited has been appointed as the Book Running Lead Manager, while Skyline Financial Services Private Limited will serve as the Registrar for the issue.
TAC Security, under the guidance of stock market luminary Vijay Kedia, specialises in providing risk-based vulnerability management and assessment solutions, cybersecurity quantification, and penetration testing services to organizations globally, operating under the Software-as-a-Service (SaaS) model.
According to the Red Herring Prospectus (RHP) document, the company intends to utilise the net proceeds from the IPO for strategic investments. These include bolstering human resources and product development to facilitate organic growth in India and expanding investments in TAC Security INC. (Delaware, USA) to recruit skilled personnel, thereby fostering organic growth beyond Indian borders. The remaining funds will be allocated towards general corporate purposes.
The brainchild of millennial entrepreneur Trishneet Arora, TAC Security boasts a robust leadership in cybersecurity and vulnerability management. Arora, aged 30, has been instrumental in shaping the company’s business growth trajectory. His remarkable contributions have earned him numerous accolades, including recognition as one of GQ’s Top 50 Most Influential Young Indians in 2017, Entrepreneur of the Year in 2020, and being named among the Leaders of Tomorrow in 2018 and 2022 by the St. Gallen Symposium, Switzerland. Additionally, he has been featured on esteemed lists such as Forbes “30 Under 30” Asia 2018 and Fortune India’s “40 Under 40” in 2018 and 2021, showcasing his profound impact in the field.
