TAC Infosec IPO: Price band, issue size, key dates, other details to know

TAC Infosec IPO price band has been fixed in the range of ₹100 to ₹106 per equity share of face value of ₹10 each. TAC Infosec IPO will open for subscription on Wednesday, March 27, and close on Tuesday, April 2. TAC Infosec IPO lot size consists of 1,200 shares. Bids can be made for a minimum of 1,200 equity shares and in multiple of 1,200 equity shares thereafter. The floor price is 10 times of the face value and the cap price is 10.6 times of the face value.

As mentioned in the company's red herring prospectus (RHP), the firm works with enterprises of all sizes to offer risk-based vulnerability management and assessment solutions, cybersecurity quantification, and penetration testing services through the use of the "SaaS model."

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The firm provides security software solutions and products in India and abroad. Banks and financial institutions, government agencies and regulatory bodies, large corporations (including business offices) 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 are among the company's customers.

As per the RHP, the company's listed peers are Dev Information Technology Limited (with a P/E of 23.73), Infobeans Technologies Limited (with a P/E of 29.63), and Sigma Solve Limited (with a P/E of 100.86). 

Between March 31, 2022, and March 31, 2023, TAC Infosec Limited's profit after tax (PAT) soared by 735.05% and its revenue jumped by 93.7%.

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TAC Infosec IPO details 

TAC Infosec IPO, which is worth about ₹29.99 crore, consists of a fresh issue of 2,829,600 equity shares with a face value of ₹10. There is no offer-for-sale component. 

The following objectives will be achieved with the issue's object: purchasing TAC Security Inc. (Delaware, USA) and establishing it as a wholly owned subsidiary; investing in product development and human resources; and general company goals.

The TAC Infosec IPO's book running lead manager is Beeline Capital Advisors Pvt Ltd, and the registrar is Skyline Financial Services Private Ltd. Spread X Securities is the market maker. 

The company's promoters are Trishneet Arora and Charanjit Singh.  The founder and CEO of TAC Security, Trishneet Arora, holds a 74% stake in the company. Prominent stock market investor Vijay Kishanlal Kedia holds a 15% stake in the business. Ankit Vijay Kedia, Charanjit Singh and Subinder Jeet Singh Khurana hold 5%, 4% and 2% stakes, respectively.

Also Read: Vijay Kedia backed TAC Security files IPO papers with SEBI, to list with NSE Emerge

It has reserved not more than 50% of the net issue for the Qualified institutional buyer (QIBs), the retail individual bidders portion reserved is not less than 35% and non-institutional bidders portion is not less than 15%. 

Tentatively, TAC Infosec IPO basis of allotment of shares will be held on Wednesday, April 3, and the company will initiate refunds on Thursday, April 4, while the shares will be credited to the demat account of allottees on the same day following refund. TAC Infosec share price is likely to be listed on NSE SME on Friday, April 5.

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