Vijay Kedia backed TAC Infosec IPO opens for subscription

The price band has been set in the range of Rs 100 to Rs 106 apiece of the face value of Rs 10 each. Investors can place a bid for a minimum for 1,200 equity shares and in multiples of 1,200 thereafter.

Vijay Kedia backed TAC Infosec’s IPO opened for subscription on Wednesday (March 27), and was fully subscribed. Valued at about Rs 29.99 crore, the issue comprises a new issuance of 2,829,600 equity shares.

The price band has been set in the range of Rs 100 to Rs 106 apiece of the face value of Rs 10 each. Investors can place a bid for a minimum for 1,200 equity shares and in multiples of 1,200 thereafter. The issue will close on Tuesday, April 2.

TAC Infosec IPO has raised Rs 8.55 crore from the sale of 8.06 lakh equity shares on Tuesday, March 26. Its anchor book was subscribed to by marquee investors such as Beacon Stone Capital VCC – Beacon Stone I, Astorne Capital VCC, NAV Capital VCC – NAV Capital Emerging Star Fund, LC Radiance Fund VCC among others.

The company offers security software products and solutions to large banks and financial institutions, government agencies and regulatory bodies that includes the likes of BSE, NSDL e-Governance, Motilal Oswal Financial Services Limited, HDFC, Bandhan Bank, National Payments Corporation of India, DSP Investment Managers Private Limited.

Its profit after tax (PAT) increased by 735.05 per cent with its revenue jumped by 93.7 per cent between March 31, 2022, and March 31, 2023.

Allotment of shares will be held on April 3, 2024, with the company initiating refunds for the remaining investors on the same day. TAC Infosec shares are likely to be listed on National Stock Exchange’s (NSE) SME on April 5, 2024.

First uploaded on: 27-03-2024 at 15:52 IST

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