TAC Infosec IPO: Check Out Price Band, Issue Size & More

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by Sandip Das on 27 March 2024,  5 min read

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TAC Infosec Limited opened its initial public offering (IPO) for subscription on March 27, 2024. The company has set the IPO price band between Rs 100 to Rs 106 per share, and it will close the issue on April 2, 2024. An application requires a minimum lot size of 1,200 shares, with retail investors needing to invest a minimum amount of Rs 1,27,200.

About the Company

TAC Infosec Limited, founded in 2016, offers risk-based solutions for vulnerability management and assessment, cyber security quantification, and penetration testing in a Software as a Service (SaaS) model. The company’s clientele includes banks, financial institutions, government regulators and departments, as well as large enterprises such as HDFC, Bandhan Bank, BSE, National Payments Corporation of India, DSP Investment Managers Private Limited, Motilal Oswal Financial Services Limited, and NSDL e-Governance.

Price Band

The company has set the IPO price band between Rs 100 to Rs 106 per share.

Issue Size

The issue is worth about Rs 29.99 crore and it consists of a fresh issue of 28,29,600 equity shares with a face value of Rs 10. There is no offer-for-sale component in the IPO.

Also read: Radiowalla Network IPO: Top Things to Know Before Subscribing to Issue
IPO Reserve Portion

Qualified Institutional Buyers (QIB): 19% of the issue
Non-Institutional Investors (NII): 14.25% of the issue
Retail Investors: 33.25% of the issue

Objectives of the Issue

Acquisition of TAC Security Inc (Delaware, USA) and establishment as a Wholly Owned Subsidiary.
Investment directed towards human resources and product development initiatives.
Pursuit of general corporate objectives.

Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment.

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