The public offering of TAC Infosec begins its subscription today (March 27). The IPO is priced in the range of ₹100 to ₹106 per equity share with a face value of ₹10 each. Investors have until April 2 to participate, with each lot comprising 1,200 shares. Bids can be placed for a minimum of 1,200 equity shares and in multiples of 1,200 thereafter.
The IPO is valued at approximately ₹29.99 crores and comprises a fresh issue of 2,829,600 equity shares. There is no offer-for-sale component in this IPO. The promoters of the company are Trishneet Arora and Charanjit Singh. Vijay Kishanlal Kedia holds a 15% stake in the company, while Ankit Vijay Kedia, Charanjit Singh, and Subinder Jeet Singh Khurana hold 5%, 4%, and 2% stakes, respectively. The allocation of shares will be determined on April 3, with refunds initiated on April 4. Shares will be credited to the demat accounts of allottees on the same day.
On Tuesday, March 26, TAC Infosec IPO raised ₹8.55 crore from the sale of 8.06 lakh equity shares at ₹106 apiece from its anchor investors. The anchor book was subscribed to by marquee investors such as LC Radiance Fund VCC, Zinnia Global Fund PCC – Cell Dewcap Fund, Astorne Capital VCC, Beacon Stone Capital VCC – Beacon Stone I, and NAV Capital VCC – NAV Capital Emerging Star Fund.
TAC Infosec specializes in security software solutions and products, catering to clients both domestically and internationally. Notable customers include HDFC, Bandhan Bank, BSE, National Payments Corporation of India, DSP Investment Managers Private Limited, Motilal Oswal Financial Services Limited, and NSDL e-Governance.
The company has witnessed a significant increase in profit after tax (PAT) by 735.05% and revenue by 93.7% between March 31, 2022, and March 31, 2023.
