TAC Security is set to open its IPO, aims to raise Rs. 29.9 crore

TAC Infosec (TAC Security) 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 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.