Vijay Kedia backed TAC Infosec share price makes a blockbuster debut, stock opens with 174% premium at ₹290 apiece

TAC Infosec share price made a blockbuster debut on NSE SME today. On NSE SME, TAC Infosec share price opened at ₹290, which is 173.58% higher than the issue price of ₹106. Following a bumper debut, the stock was locked in 5% upper circuit. 

The Vijay Kedia backed TAC Infosec IPO opened for subscription on Wednesday, March 27, and closed on Tuesday, April 2. The price band for the issue was set in the range of   ₹100 to ₹106 apiece, with a face value of ₹10. Investors could bid for a minimum of 1,200 equity shares, which made the lot size of TAC Infosec IPO. TAC Infosec IPO subscription status was 422.03 times, on day 4.

"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

Also Read: TAC Infosec IPO last bidding date today: Issue booked 422.03 times on strong NII, retail demand; check GMP

Established in 2016, TAC Infosec Limited provides risk-based solutions for cyber security quantification, penetration testing, vulnerability management, and assessment using a software as a service paradigm.

Banks and other financial institutions, government agencies and regulators, as well as major businesses (including corporate headquarters) like 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 clientele.

Also Read: TAC Infosec IPO allotment finalised today; latest GMP, 4 steps to check status

TAC Infosec IPO details

The TAC Infosec IPO, valued at about ₹29.99 crore, comprises a new issuance of 2,829,600 equity shares, each having a face value of ₹10. There is no offer-for-sale component.

The following goals will be fulfilled: making investments in human resources and product development; acquiring TAC Security Inc. (Delaware, USA) and converting it into a fully owned subsidiary; and pursuing general commercial objectives.

The book running lead manager for the TAC Infosec IPO is Beeline Capital Advisors Pvt Ltd, and the registrar is Skyline Financial Services Private Ltd. Market maker X Securities is in charge here.

The company's promoters are Trishneet Arora and Charanjit Singh. 74% of TAC Security is owned by the company's founder and CEO, Trishneet Arora. Renowned stock market investor Vijay Kishanlal Kedia owns 15% of the company. Ankit Vijay Kedia owns five percent of the company, Charanjit Singh owns four percent, and Subinder Jeet Singh Khurana owns two percent.

Also Read: Vijay Kedia backed TAC Infosec IPO oversubscribed on day 3 on robust retail interest; check GMP, subscription status

TAC Infosec IPO GMP today

TAC Infosec IPO GMP or grey market premium is +113. This indicates TAC Infosec share price were trading at a premium of ₹113 in the grey market, according to investorgain.com.

Taking into consideration the upper end of the IPO price band and the current premium on the grey market, an estimated listing price of ₹219 per share—or 106.6% more than the IPO price of ₹106—was suggested for TAC Infosec shares.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Vijay Kedia backed TAC Infosec IPO continues to see strong demand from retail, NIIs on day 2; check GMP, other details

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.