The Vijay Kedia backed TAC Infosec IPO will end today (Tuesday, April 2), having opened for subscription on Wednesday, March 27. The price band for the issue is ₹100 to ₹106 per share, with a face value of ₹10. Investors can bid for a minimum of 1,200 equity shares, which make up the lot size for the IPO.
By selling 8.06 lakh equity shares to its anchor investors at a price of ₹106 per, TAC Infosec’s IPO on Tuesday, March 26, raised ₹8.55 crore. Prominent investors like 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 subscribed to the anchor book.
Also Read: Vijay Kedia backed TAC Infosec IPO oversubscribed on day 3 on robust retail interest; check GMP, subscription status
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The company’s red herring prospectus (RHP) states that it uses the “SaaS model” to collaborate with organisations of different sizes, offer cybersecurity quantification, and offer risk-based vulnerability management and assessment solutions as well as penetration testing services.
The company offers security software products and solutions on a national and international level. Financial institutions, banks, governmental and regulatory bodies, and large corporations (including business offices) like DSP Investment Managers Private Limited, Motilal Oswal Financial Services Limited, NSDL e-Governance, HDFC, Bandhan Bank, BSE, National Payments Corporation of India, and BSE are among the company’s clientele.
TAC Infosec IPO subscription status
TAC Infosec IPO subscription status is 412.17 times, on day 4, so far. The issue has received positive response from retail investors who’s portion set was subscribed 414.51 times, and non-institutional buyers who’s portion set was subscribed 767.88 times, according to data on chittorgarh.com. Qualified institutions buyers (QIBs) subscribed 141.29 times.
The company has received bids for 77,55,36,000 shares against 18,81,600 shares on offer, at 15:59 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. TAC Infosec IPO subscription status on day 3 was 70.12 times.
Also Read: Vijay Kedia backed TAC Infosec IPO continues to see strong demand from retail, NIIs on day 2; check GMP, other details
TAC Infosec IPO details
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.
The following objectives will be achieved in relation to the matter at hand: investing in product development and human resources; purchasing TAC Security Inc. (Delaware, USA) and turning it into a fully owned subsidiary; and pursuing general commercial aims.
For the TAC Infosec IPO, Skyline Financial Services Private Ltd is the registrar and Beeline Capital Advisors Pvt Ltd is the book running lead manager. 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.
Also Read: Vijay Kedia backed TAC Infosec IPO fully subscribed on day 1; check latest GMP, subscription status, other key details
TAC Infosec IPO GMP today
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.
An estimated listing price of ₹231 per share, or 117.92% higher than the IPO price of ₹106, was suggested for TAC Infosec shares, taking into account the upper end of the IPO price band and the existing premium on the grey market.
The IPO GMP is rising, and a good listing is expected, according to the grey market activity for the past 14 days. Based on analysis by experts at investorgain.com, the highest GMP is ₹25, and the lowest is ₹0.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Also Read: TAC Infosec IPO: Price band, issue size, key dates, other details to know
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.
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