Vijay Kedia-Backed Cybersecurity Firm's IPO To Open Next Week: Check Details

TAC Infosec Limited, a risk and vulnerability management firm, has declared its plans for an initial public offering (IPO). The IPO is slated to open for bidding on March 27. The issue will wrap up on Tuesday, April 2.

What Happened: The cybersecurity firm aims to garner approximately ₹29.9 crore from the offering and has plans to list with NSE Emerge.

The issue’s price band has been fixed at ₹100 – ₹106 per share, with a lot size of 1,200 equity shares. The IPO will consist of a fresh issue of 28,29,600 Equity Shares with a face value of Rs. 10/-.

Beeline Capital Advisors Private Limited has been appointed as the Book Running Lead Manager for the issue, while Skyline Financial Services Private Limited will function as the Registrar.

See Also: Ather Energy Gears Up For A ₹3,280 Cr IPO In June: Report

Backed by stock market guru Vijay Kedia, TAC Security provides risk-based vulnerability management, cybersecurity quantification, and penetration testing to organizations of varying sizes via the “SaaS model”. After the listing, Kedia would own around 11.47 lakh shares of the company which is equivalent to a 10.95% stake.

Per the RHP document, the net proceeds from the IPO will be allocated towards investment in human resources, product development, and bolstering organic growth in India. The company also intends to invest in TAC Security INC. (Delaware, USA) to stimulate organic growth outside India.

Read Next: Top 10 Richest Business Women In India


Engineered by Benzinga Neuro, Edited by Utkarsh Roshan


The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.


Market News and Data brought to you by Benzinga APIs

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: NewsIPOsTAC InfosecVijay Kedia