Theranautilus Secures $1.2 Mn in Seed...
19 Nov 2024
The TAC Infosec IPO, which opened for subscription on Wednesday, March 27, will end on Tuesday, April 2. The lot size for the IPO is 1,200 equity shares; buyers may bid for a minimum of 1,200 equity shares. The price band for the issue is ₹100 to ₹106 per share, with a face value of ₹10.
On Tuesday, March 26, TAC Infosec IPO garnered ₹8.55 crore by selling 8.06 lakh equity shares to its anchor investors at a price of ₹106 each. The anchor book was subscribed to by well-known investors, such as Astorne Capital VCC, Zinnia Global Fund PCC - Cell Dewcap Fund, LC Radiance Fund VCC, Beacon Stone Capital VCC - Beacon Stone I, and NAV Capital VCC - NAV Capital Emerging Star Fund.
According to the company's red herring prospectus (RHP), the "SaaS model" is utilised by the organisation to provide cybersecurity quantification, risk-based vulnerability management and assessment solutions, penetration testing services, and collaboration with organisations of varying sizes.
The RHP lists Sigma Solve Limited (P/E of 100.86), Infobeans Technologies Limited (P/E of 29.63), and Dev Information Technology Limited (P/E of 23.73) as the company's listed peers.
Between March 31, 2022, and March 31, 2023, TAC Infosec Limited's profit after tax (PAT) soared by 735.05% and its revenue jumped by 93.7%.
TAC Infosec IPO subscription status is 69.62 times, on day 3, so far. The issue has received positive response from retail investors who's portion set was subscribed 115.43 times, and non-institutional buyers who's portion set was subscribed 51.98 times, according to data on chittorgarh.com. Qualified institutions buyers (QIBs) subscribed 2.67 times.
The company has received bids for 13,09,89,600 shares against 18,81,600 shares on offer, at 17:41 IST, according to data on chittorgarh.com.
The issue was subscribed 10.34 times on day 1, and the issue was booked 24.86 times.
The TAC Infosec IPO, valued at about ₹29.99 crore, comprises a new issuance of 2,829,600 equity shares, each having a face value of ₹10. There is no offer-for-sale component.
With regard to the issue, the following goals will be achieved: making investments in product development and human resources; acquiring TAC Security Inc. (Delaware, USA) and converting it into a fully owned subsidiary; and pursuing general commercial objectives.
Beeline Capital Advisors Pvt Ltd is the book running lead manager and Skyline Financial Services Private Ltd is the registrar for the TAC Infosec IPO. Market maker X Securities is in charge here.
Charanjit Singh and Trishneet Arora are the promoters of the firm. Trishneet Arora, the company's CEO and founder, owns 74% of TAC Security. 15% of the firm is owned by well-known stock market investor Vijay Kishanlal Kedia. A five percent ownership is held by Ankit Vijay Kedia, four percent by Charanjit Singh, and two percent by Subinder Jeet Singh Khurana.
TAC Infosec IPO GMP or grey market premium is +125. This indicates TAC Infosec share price were trading at a premium of ₹125 in the grey market, according to investorgain.com.
Taking into consideration the upper end of the IPO price band and the current premium on the grey market, the estimated listing price of TAC Infosec shares was suggested at ₹231 apiece, which is 117.92% more than the IPO price of ₹106.
Grey market activity for the last 13 days indicates that the IPO GMP is increasing and a strong listing is expected. The greatest GMP is ₹125, while the lowest GMP is ₹0, according to analysts at investorgain.com.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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