TAC Security IPO (initial public offering) will launch on March 27. The IPO will include a new issuance of 28,29,600 equity shares. The price band for the IPO is set at INR 100-106 per share. The business hopes to generate approximately INR 29.9 crore at the upper end of the pricing range. The lot size is 1,200 equity shares.
The company has set aside 1.41 lakh shares for market makers, 4.03 lakh shares for non-institutional investors. Further, 13.44 lakh shares is set for qualified institutional buyers (QIBs), which includes anchor investors.
The anchor component will begin on March 26, and the IPO will end on April 2.
TAC Infosec filed a draft red herring prospectus (DRHP) in January of this year. This was to list the NSE’s small and medium enterprises (SME)-focused platform, NSE Emerge.
TAC Infosec, founded in 2016 by Trishneet Arora, provides risk-based vulnerability management and assessment tools. It provides cybersecurity quantification and penetration testing to businesses of all sizes and industries via the SaaS model.
The business intends to use the net proceeds of the IPO to invest in human resources and product development. This will promote organic growth in India. The company will use a portion of the generated funds to invest in its US-based subsidiary, and it will allocate the remaining funds to fulfill other corporate demands.
Beeline Capital Advisors Private Limited is the book-running lead manager for the offering.
All About the Tac Security IPO
Arora, the startup’s founder and CEO, holds the majority interest (74%), followed by ace investor Vijay Kedia, who owns 15%. Ankit Vijay Kedia, Charanjit Singh, and Subinder Jeet Singh Khurana have 5%, 4%, and 2% holdings, respectively.
TAC Infosec earns the majority of its revenue from foreign markets. It intends to continue its efforts to promote and sell its products and solutions to users in these markets by investing in brand development, advertising, and marketing activities.
In the first half of FY24, the firm generated INR 5.31 crore in total sales and INR 1.94 crore in profit (PAT). In FY23, their PAT was INR 5.07 crore on a revenue of INR 10.14 crore.
It is worth noting that several new-age technology businesses have listed on SME markets in recent years. This include Yudiz Solutions, a blockchain and IT development company, listed on the NSE SME platform in 2023. The other includes DroneAcharya Aerial Innovations, listed on the BSE SME platform in 2022.
Trust Fintech Limited, a fintech SaaS firm, is also trying to list on the NSE Emerge. Its initial public offering will take place on Tuesday, March 26.
