TAC Infosec’s share price debuted spectacularly on NSE SME. TAC Infosec’s share price opened on NSE SME at ₹290, 173.58% more than the ₹106 issue price. After a strong opening, the stock was locked in the upper circuit at 5%.
The TAC Infosec IPO, which is backed by Vijay Kedia, went live for subscription on Wednesday, March 27, and ended on Tuesday, April 2.
With a face value of ₹10, the price band for the issue was set between ₹100 and ₹106 each. The TAC Infosec IPO lot size consisted of 1,200 equity shares that investors could bid on at minimum. On day four, the TAC Infosec IPO subscription status was 422.03 times.
TAC Infosec Limited was founded in 2016 and offers risk-based solutions for vulnerability management, penetration testing, cyber security quantification, and assessment.
The company’s clientele includes banks and other financial institutions, government agencies and regulators, as well as large businesses (including corporate headquarters) like Motilal Oswal Financial Services Limited, NSDL e-Governance, HDFC, Bandhan Bank, BSE, National Payments Corporation of India, DSP Investment Managers Private Limited, and BSE.
The TAC Infosec initial public offering (IPO), estimated to be worth ₹29.99 crore, consists of a fresh issue of 2,829,600 equity shares, with a face value of ₹10. There isn’t a component that is for sale.
The objectives to be achieved are as follows: investing in product development and human resources; acquiring TAC Security Inc. (Delaware, USA) and turning it into a fully owned subsidiary; and pursuing general commercial goals.
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. In this case, market maker X Securities is in charge.
Trishneet Arora and Charanjit Singh are the company’s promoters. Trishneet Arora, the CEO and founder of the company, owns 74% of TAC Security. 15% of the business is owned by well-known stock market investor Vijay Kishanlal Kedia. Five percent of the business is owned by Ankit Vijay Kedia, four percent by Charanjit Singh, and two percent by Subinder Jeet Singh Khurana.
