Very few initial public offerings (IPOs) in the unpredictable stock market attract the kind of attention and excitement that TAC Infosec Ltd. did. The company successfully made its public market debut, specializing in risk-based solutions for cyber security quantification, penetration testing, and vulnerability management and assessment. Investors rushed to purchase a piece of TAC Infosec as the subscription period came to an end, causing the IPO to be 61.32 times oversubscribed.
There was an immediate sense of excitement surrounding TAC Infosec’s IPO. When the offering went live for public subscription on March 27, investors were immediately captivated, and offers for 11,53,71,600 shares quickly poured in against the modest offering of 18,81,600 shares. Such a strong demand demonstrates the faith that investors have placed in the company’s capabilities and the growing significance of cybersecurity in the current digital era.
A closer look at the subscription data reveals an amazing story about investor appetite. The subscription rate for non-institutional investors was 42.61 times higher than that of retail individual investors (RIIs), which demonstrated an astonishing 102.85 times oversubscription. This indicates that TAC Infosec is very popular with the general public. Despite being relatively small in comparison to other categories, the Qualified Institutional Buyers (QIBs) quota managed to secure a respectable 2.67 times subscription, indicating institutional interest in the company’s prospects.
The journey of TAC Infosec has been closely watched by market observers, and the grey market is showing a significant premium of Rs 106 above its issue price. This equates to an astounding listing gain of 117.92 percent, demonstrating the bullish sentiment that permeates the market with respect to the company’s valuation and growth prospects. It’s important to remember that grey market premiums can change, so it’s important to interpret them carefully.
To be more precise, TAC Infosec’s IPO consisted of 28.3 lakh shares, all of which were newly issued. In order to balance investor affordability with sufficient capital infusion for the company’s expansion plans, the pricing, which ranged from Rs 100 to Rs 106 per share, was done. In order to facilitate widespread participation from retail investors, the IPO required a minimum investment of Rs 1,27,200 and a minimum lot size of 1,200 shares.
A tentative date of April 5, 2024, is set for TAC Infosec’s listing on the NSE SME platform, and the excitement surrounding this listing is evident. A testament to the company’s unwavering dedication to providing cutting-edge cybersecurity solutions is its journey from its founding in 2016 to its impending public debut. Having established a solid reputation in the increasingly digital world, TAC Infosec has a clientele that includes well-known banks, financial institutions, and government agencies.
Beeline Capital Advisors Pvt Ltd, the book-running lead manager, was instrumental in the background, skillfully directing the IPO process. Skyline Financial Services Private Ltd took on the registrar role for the matter, guaranteeing smooth cooperation and adherence to regulations all along. To further improve the accessibility and appeal of TAC Infosec’s shares, Spread X Securities, the designated market maker, will assist with price discovery and liquidity following listing.
As TAC Infosec sets out on its first adventure as a publicly listed company, the future seems promising. The business is well-positioned to benefit from the growing market for cybersecurity solutions, as evidenced by its strong revenue growth of 93.7 percent and astounding 735.05 percent increase in profit after tax (PAT) in the fiscal year 2022–2023. TAC Infosec is prepared to protect their interests and advance innovation in the field of cybersecurity as both individuals and businesses navigate an ever-more complex digital landscape.
To sum up, TAC Infosec’s initial public offering (IPO) signifies more than just a financial achievement; it also reflects the expanding understanding of the critical role cybersecurity plays in the connected world of today. All eyes are firmly focused on April 5, 2024, as TAC Infosec takes its place on the NSE SME platform, poised to chart a path of success and prosperity in the years to come. Investor optimism is soaring and anticipation is building.
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