TAC Infosec Limited announces its Initial Public Offering (IPO) with a price band set at Rs. 100–106 per share. The IPO will commence on Wednesday, March 27, 2024. Here are the key details:
- Anchor Book: Opens on Tuesday, March 26, 2024
- Issue Closure: Tuesday, April 02, 2024
- Issue Type: Fresh Issue, comprising 28,29,600 equity shares with a face value of Rs. 10 each through the book-building route
- Utilization of Proceeds: The company intends to utilize the net proceeds from the IPO for strategic investments in human resources and product development to foster organic growth within India. Additionally, investments in TAC Security INC. (Delaware, USA) are planned to recruit skilled personnel to facilitate organic growth outside India.
- Company’s Offerings: TAC Infosec Limited provides risk-based vulnerability management and assessment solutions, cybersecurity quantification, and penetration testing services to domestic and international organizations of varying scales, sizes, and industries through the “SaaS model.”
- Key Players: Beeline Capital Advisors Private Limited serves as the Book Running Lead Manager, while Skyline Financial Services Private Limited is appointed as the Registrar to the Issue.
- Backing: TAC Security is supported by renowned stock market expert Vijay Kedia.
IPO Details for TAC Infosec Limited:
- Number of Shares: 28,29,600 Equity Shares (Face Value Rs. 10 each)
- Price Band: Rs. 100 – 106
- Issue Size (at upper band): Rs. 29.9 crore
- Issue Opens: Wednesday, March 27, 2024
- Issue Closes: Tuesday, April 02, 2024
- Reservation for Market Maker: 1,41,600 Equity Shares
- Reservation for Non-Institutional Investors (NIIs): 4,03,200 Equity Shares
- Reservation for Qualified Institutional Buyers (QIBs) (including Anchor Reservation): 13,44,000 Equity Shares
- Reservation for Retail Investors: 9,40,800 Equity Shares
- Lot Size: 1,200 Equity Shares”
Gurgaon; March 20, 2024: TAC Infosec Limited (“TAC Security” or “The Company”), a global leader in risk and vulnerability management, announced that its initial public offering (IPO) will open on Wednesday, March 27, 2024. The anchor portion will be opened on Tuesday, March 26, 2024, and the issue will conclude on Tuesday, April 02, 2024. The company intends to raise approximately Rs. 29.9 crore (at upper band) from the offering and aims to be listed with NSE Emerge. The price band for the issue has been fixed at Rs. 100 – Rs. 106 per share, and the lot size will be 1,200 equity shares.
Beeline Capital Advisors Private Limited is the Book Running Lead Manager, and Skyline Financial Services Private Limited is the Registrar for the issue.
The IPO will comprise a fresh issue of 28,29,600 Equity Shares with a face value of Rs. 10/- through the book-building route. As many as 1.41 lakh equity shares have been reserved for the Market Maker, 4.03 lakh equity shares for NIIs, 13.44 lakh equity shares allocated for QIBs (including Anchor Reservation), and Retail (RII) portion accounts for 9.4 lakh equity shares.
The company, backed by stock market maven Vijay Kedia, offers risk-based vulnerability management and assessment solutions, cybersecurity quantification and Penetration testing to organisations of any scale, size, and business through the “SaaS model”.
According to the RHP document, the company proposes to use the net proceeds from the IPO to invest in human resources and product development to support organic growth in India and investment in TAC Security INC. (Delaware, USA) to hire skilled personnel for organic growth outside India. The remaining capital will be used for general corporate purposes.
TAC Security was founded by the millennial entrepreneur Trishneet Arora. With extensive experience in cybersecurity and vulnerability management, the founder has been steering the company’s business growth strategy. Trishneet Arora, 30, is accredited with numerous recognitions and awards, including GQ’s Top 50 Most Influential Young Indians in 2017, Entrepreneur of the Year in 2020 and Leaders of Tomorrow in 2018 and 2022 by St. Gallen Symposium, Switzerland. He was also featured on the coveted Forbes “30 Under 30” Asia 2018 list and Fortune India’s “40 Under 40” list twice in 2018 and 2021.
Disclaimer: TAC Infosec Limited is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its Equity Shares and has filed the RHP with the NSE Emerge. The RHP is available on the website of BRLM, website of NSE and website of the Company. Any potential investors should note that investment in equity shares involves a high degree of risk, and for details relating to the same, please refer to the RHP, including the section titled “Risk Factors”, beginning on page 28.
The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act) or any state securities laws in the United States, and unless so registered, and may not be issued or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in accordance with any applicable U.S. state securities laws. The Equity Shares are being issued and sold outside the United States in offshore transactions in reliance on Regulation “S* under the Securities Act and the applicable laws of each jurisdiction where such issues and sales are made. There will be no public offering in the United States.
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