Multibagger Stock: Vijay Kedia backed TAC Infosec share price jumps over 400% in less than one month of listing

Since its debut on the NSE SME on April 5, Vijay Kedia backed TAC Infosec share price has surged by more than 400% in less than a month. As of right now, the investors who received shares would have earned about ₹6.36 lakhs. TAC Infosec share price today were locked at 10% upper circuit, the stock opened at ₹518 apiece on NSE, it touched an intraday high of ₹530.05 and an intraday low of ₹509.

TAC Infosec share price made a bumper debut this month, where it opened at ₹290, which is 173.58% higher than the issue price of ₹106. The stock closed with a listing gain of 187.3%. On day four, the TAC Infosec IPO subscription status was 422.03 times. According to data on chittorgarh.com, the issue has got excellent response from non-institutional investors, whose portion set was subscribed 768.89 times, and retail investors, whose portion set was subscribed 433.80 times. Qualified institutions buyers (QIBs) fetched 141.29 subscriptions.

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In a major move to improve app security across platforms, TAC Infosec has been named as a major Cyber Security Assessor for the App Defense Alliance (ADA), according to an exchange filing. The Android Development Alliance (ADA), which was first introduced by Google in 2019 to combat fraudulent Android apps, is currently moving to the Joint Development Foundation (JDF) under the Linux Foundation.

TAC Security bolsters the alliance's protection against emerging digital threats by joining the ADA alongside prominent players in the sector including ESET, Lookout, and Zimperium. The ADA's steering group now includes digital behemoths like Microsoft and Meta (previously Facebook), which highlights even more the cooperative effort to develop app security standards and practices.

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“We are proud to partner with Microsoft and Meta’s App Defense Alliance to enhance app security globally,” said Trishneet Arora, Founder and CEO, TAC Security. “Through our expertise and collaborative efforts within the ADA framework, we are committed to creating a safer digital environment for users worldwide.”

Dr. Ravi Singh, SVP, Retail Research at Religare Broking Ltd, explained that TAC Infosec Limited provides risk-based Software as a Service (SaaS) solutions, including penetration testing, cyber security quantification, and viability management and evaluation. The share price of the company is overvalued if we look at the current scenario. The net profit of the company has not shown healthy growth in the past three years, and the cash flow is very low. So as an investor, one should refrain from investing in it, and currently this stock lacks liquidity.

TAC Infosec IPO details

The TAC Infosec IPO, was alued at about ₹29.99 crore, comprised of fresh issuance of 2,829,600 equity shares, each having a face value of ₹10. There was no offer-for-sale component.

The funds were to utilise it to acquire TAC Security Inc. (Delaware, USA) and turn it into a fully owned subsidiary, engage in product development and human resources, and pursue general business goals.

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

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